Timing of childbirth, capital accumulation, and economic welfare

Akira Momota, Ryo Horiiy

研究成果: Article査読

3 被引用数 (Scopus)

抄録

This paper examines the effect of the timing of childbirth on capital accumulation and welfare in a simple overlapping generations model, where each agent lives for four periods and works for two periods. We show that delayed childbearing not only reduces population, but also generates fluctuations in the age composition of workers in the labour force. This causes the aggregate saving rate to fluctuate, which leads to cycles in the capital-labour ratio. When all agents delay childbearing, we analytically show that both the capital-labour ratio and the welfare of all agents can fall in the long run, despite the population decline. When a fraction of agents delay childbearing, it has differential welfare effects on agents depending on their positions in the demographic cycles. The effects of lower lifetime fertility and technological progress are also examined

本文言語English
ページ(範囲)494-522
ページ数29
ジャーナルOxford Economic Papers
65
2
DOI
出版ステータスPublished - 2013 4月
外部発表はい

ASJC Scopus subject areas

  • 経済学、計量経済学

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