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• W2110119331 abstract "This paper develops an overlapping-generations (OLG) model to analyze the consequences of demographic structure changes induced by an exogenous shift in the birth rate. We first show that a finite growth rate of the population that maximizes long-run capital per capita exists. Then, we examine the theoretical properties of this growth rate by showing that: (i) it corresponds to the demographic structure such that the average ages of capital holders and workers are equal; (ii) it is associated to an efficient steady state; (iii) it increases with compulsory transfers from younger to older generations. Finally, we explain why standard OLG models do not exhibit such a growth rate." @default.
• W2110119331 created "2016-06-24" @default.
• W2110119331 creator A5004994347 @default.
• W2110119331 date "2007-01-01" @default.
• W2110119331 modified "2023-10-18" @default.
• W2110119331 title "Demographic structure and capital accumulation" @default.
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• W2110119331 doi "https://doi.org/10.1016/j.jet.2005.10.001" @default.
• W2110119331 hasPublicationYear "2007" @default.
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