Population growth and human capital: a welfarist approach

Thomas Renstrom () and Luca Spataro
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Thomas Renstrom: University of Durham (UK)

No 3, Public Finance Research Papers from Istituto di Economia e Finanza, DSGE, Sapienza University of Rome

Abstract: In this paper we investigate the relationship between economic and population growth in an endogenous growth model driven by human capital accumulation à la Lucas (1988). Since we allow for endogenous population growth, we adopt the population criterion Relative Critical Level Utilitarianism (an extension of Critical Level Utilitarianism, Blackorby et al. 1995) which allows axiomatically founded welfare orderings under variable population. Under this extension the Critical Level Utility is dependent on parents’ wellbeing. In this scenario we investigate the equilibrium relation between economic growth and population growth as functions of the underlying parameters and we provide the conditions for the economic take-off to occur.

Keywords: population growth; endogenous growth; human capital; critical level utilitarianism (search for similar items in EconPapers)
JEL-codes: D6 J11 O41 (search for similar items in EconPapers)
Pages: 41 pages
Date: 2014-05
New Economics Papers: this item is included in nep-evo, nep-gro and nep-hap
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Population Growth and Human Capital: A Welfarist Approach (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:gfe:pfrp00:0003

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