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Article Dans Une Revue Economic Theory Année : 2007

On Efficient Child Making

Résumé

This paper is devoted to the study of the Pareto-efficiency of the competitive equilibrium for an overlapping generations economy with endogenous fertility. Pareto-efficiency needs a reformulation when fertility is endogenous. Then it is proved that a competitive equilibrium that converges in over-accumulation is non-Pareto-efficient. However, we provide an example in which a competitive equilibrium that converges in under-accumulation is non-Pareto-efficient. Finally, we give a general condition that ensures the Pareto-efficiency of the competitive equilibrium.
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Dates et versions

halshs-00185259 , version 1 (05-11-2007)

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Citer

Philippe Michel, Bertrand Wigniolle. On Efficient Child Making. Economic Theory, 2007, 31 (2), pp.307-326. ⟨10.1007/s00199-006-0099-1⟩. ⟨halshs-00185259⟩
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