TITLE:
Simple Analysis of Dynamic Efficiency in Endogenous Fertility
AUTHORS:
Kazuki Hiraga
KEYWORDS:
Dynamic (In)Efficiency, Overlapped Generations (OLG) Model, Endogenous Fertility
JOURNAL NAME:
Theoretical Economics Letters,
Vol.5 No.4,
August
17,
2015
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.