Endogenous fertility and the old-age security hypothesis: A note

• 成果类型: Article
• 署名作者: Lagerlof, NP
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/S0047-2727(96)01617-9
• 发表日期: 1997
• 页码: 279-286
• 关键词: endogenous fertility; old-age security hypothesis

摘要

Many of the results in Nishimura and Zhang (1992) and in Zhang and Nishimura (1993) are incorrect, since the authors assume interior solutions to many of the utility maximization problems, when corner solutions yield higher utility. This note proves, inter alia, that fertility and saving cannot both be positive in the optimal steady state.