Longer lives, fertility and accumulation
Longer lives, fertility and accumulation
This paper investigates the implications of an exogenous decline in mortality rates for capital accumulation and fertility in a neoclassical economy with dynastic preferences. The analysis shows that drops in mortality can explain the transition from a regime with high levels of fertility and low output per capita to a situation with low fertility and larger output per capita. The differential impact of mortality declines on different age-groups is shown to be very important in driving this result. A positive effect on per-capita output arises only if the reductions in mortality have a larger relative impact at young ages. The dynamic adjustment is consistent with the non-monotonic path of fertility over time observed over the demographic transition.
University of Southampton
Mateos, X.
aea3afaf-9bf6-431f-af37-068ef9f1ddf4
January 1998
Mateos, X.
aea3afaf-9bf6-431f-af37-068ef9f1ddf4
Mateos, X.
(1998)
Longer lives, fertility and accumulation
(Discussion Papers in Economics and Econometrics, 9822)
Southampton, UK.
University of Southampton
Record type:
Monograph
(Discussion Paper)
Abstract
This paper investigates the implications of an exogenous decline in mortality rates for capital accumulation and fertility in a neoclassical economy with dynastic preferences. The analysis shows that drops in mortality can explain the transition from a regime with high levels of fertility and low output per capita to a situation with low fertility and larger output per capita. The differential impact of mortality declines on different age-groups is shown to be very important in driving this result. A positive effect on per-capita output arises only if the reductions in mortality have a larger relative impact at young ages. The dynamic adjustment is consistent with the non-monotonic path of fertility over time observed over the demographic transition.
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Published date: January 1998
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Local EPrints ID: 33174
URI: http://eprints.soton.ac.uk/id/eprint/33174
PURE UUID: 4c11fdad-8ace-421f-b688-31c044dae218
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Date deposited: 25 Jan 2008
Last modified: 11 Dec 2021 15:19
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Author:
X. Mateos
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