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Simple Analysis of Dynamic Efficiency in Endogenous Fertility
School of Political Science and Economics, Tokai University, Kanagawa, Japan
- 1 School of Political Science and Economics, Tokai University, Kanagawa, Japan
Theoretical Economics Letters·Volume 05 (2015)·Pages 541–544·Published 20 July 2015·DOI10.4236/tel.2015.54063
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Abstract
This paper compares with two conditions of dynamic (in)efficiency, which is “traditional” and “modified” in overlapped generations (OLG) model with endogenous fertility. We show that both two conditions of dynamic efficiency have a bliss point which maximizes the utility at steady state in endogenous fertility.
KeywordsDynamic (In)EfficiencyOverlapped Generations (OLG) ModelEndogenous Fertility
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