Brito, Paulo (2014): Interest rates and endogenous population growth: joint agedependent dynamics.

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Abstract
This paper presents a uncertainlifetime overlappinggenerations continuous time model for an ArrowDebreu economy with endogenous fertility, in which agedependent variables are explicitly introduced. The general equilibrium paths for the discount factor and newborns are derived from a system of two coupled forwardbackward integral equations. The forward mechanism is related to aggregation between cohorts and the backward mechanism to lifecycle decisions. We study changes in the agedependent profiles of agedependent distributions for productivity and time use. We show that high maximum ages of productivity and childrearing fitness increase the long run interest and growth rates, and low maximum ages can lead to asset pricing bubbles and negative population growth rates.
Item Type:  MPRA Paper 

Original Title:  Interest rates and endogenous population growth: joint agedependent dynamics 
Language:  English 
Keywords:  OLG, endogenous fertility, ArrowDebreu, integral equations 
Subjects:  C  Mathematical and Quantitative Methods > C6  Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling E  Macroeconomics and Monetary Economics > E2  Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy J  Labor and Demographic Economics > J1  Demographic Economics 
Item ID:  58656 
Depositing User:  Paulo Brito 
Date Deposited:  17 Sep 2014 05:18 
Last Modified:  26 Sep 2019 19:51 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/58656 