Format du dépôt |
Fichier |
Type de dépôt |
Pré-publication, Document de travail |
Titre |
en
Optimal Fertility along the Lifecycle
|
Résumé |
en
We explore the optimal fertility age-pattern in a four-period OLG economy with physical capital accumulation. For that purpose, we .rstly compare the dynamics of two closed economies, Early and Late Islands, which di¤er only in the timing of births. On Early Island, children are born from parents in young adulthood, whereas, on Late Island, children are born from parents in older adulthood. We show that, unlike on Early Island, there exists no stable stationary equilibrium on Late Island, which exhibits cyclical dynamics. We also characterize the social optimum in each economy, and show that Samuelson.s Serendipity Theorem still holds. Finally, we study the dynamics and social optimum of an economy with interior fertility rates during the reproduction period. It is shown that various fertility age-patterns are compatible with the social optimum, as long as these yield the optimal cohort growth rate. The Serendipity Theorem remains valid in that broader demographic environment.
|
Auteur(s)
|
Pierre Pestieau
1, 2, 3, 4, 5
, Grégory Ponthière
1, 2, 6
1
PSE -
Paris-Jourdan Sciences Economiques
( 139754 )
- 48 boulevard Jourdan 75014 Paris
- France
-
École normale supérieure - Paris ( 59704 )
;
-
Université Paris Sciences et Lettres ( 564132 )
;
-
Institut National de la Recherche Agronomique USC1336 ( 92114 )
;
-
École des hautes études en sciences sociales ( 99539 )
;
-
École des Ponts ParisTech ( 301545 )
;
-
Centre National de la Recherche Scientifique UMR8545 ( 441569 )
2
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
-
Université Paris 1 Panthéon-Sorbonne ( 7550 )
;
-
École normale supérieure - Paris ( 59704 )
;
-
Université Paris Sciences et Lettres ( 564132 )
;
-
École des hautes études en sciences sociales ( 99539 )
;
-
École des Ponts ParisTech ( 301545 )
;
-
Centre National de la Recherche Scientifique ( 441569 )
;
-
Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement ( 577435 )
3
CREPP -
Center of Research in Public Economics and Population Economics
( 143557 )
- Belgique
-
Université de Liège ( 93075 )
4
CORE -
Center of Operation Research and Econometrics [Louvain]
( 48233 )
- 34, Voie du Roman Pays B-1348 Louvain-la-Neuve
- Belgique
-
Université Catholique de Louvain = Catholic University of Louvain ( 92863 )
5
CEPR -
Center for Economic Policy Research
( 143559 )
- Royaume-Uni
6
ENS-PSL -
École normale supérieure - Paris
( 59704 )
- 45, Rue d'Ulm - 75230 Paris cedex 05
- France
-
Université Paris Sciences et Lettres ( 564132 )
|
Langue du document |
Anglais
|
Date de production/écriture |
2011-07
|
Audience |
Non spécifiée
|
Mots-clés (JEL) |
-
E - Macroeconomics and Monetary Economics/E.E1 - General Aggregative Models/E.E1.E13 - Neoclassical
-
E - Macroeconomics and Monetary Economics/E.E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy/E.E2.E21 - Consumption • Saving • Wealth
-
J - Labor and Demographic Economics/J.J1 - Demographic Economics/J.J1.J13 - Fertility • Family Planning • Child Care • Children • Youth
|
Domaine(s) |
-
Sciences de l'Homme et Société/Economies et finances
|
Référence interne |
-
PSE Working Papers n°2011-27
|
Mots-clés |
en
childbearing ages, early and late motherhoods, fertility, overlapping generations, social optimum
|