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| Tekijä: | Tamura, R. |
| Otsikko: | Fertility, human capital and the wealth of families |
| Lehti: | Economic Theory
1994 : VOL. 4:4, p. 593-603 |
| Asiasana: | HUMAN CAPITAL WEALTH FAMILIES |
| Kieli: | eng |
| Tiivistelmä: | An overlapping generations model with parental altruism is examined. The existence of the optimal value function in a model with an endogenous discount rate is proven. Two development regimes are produced: a high fertility, low income and no growth steady state, and a perpetual growth equilibrium with low fertility and rising income. An overlapping generations model with altruism provides a model of development. Individuals live two periods. Children receive investments in their human capital from their parents. |
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