Life-cycle savings, bequest, and a diminishing impact of scale on growth

Carl-Johan Dalgaard () and Martin Kaae Jensen ()

Journal of Economic Dynamics and Control, 2009, vol. 33, issue 9, pages 1639-1647

Abstract: The present paper shows that the savings motive critically affects the size and sign of scale effects in standard endogenous growth models. If the bequest motive dominates, the scale effect is positive. If the life-cycle motive dominates, the scale effect is ambiguous and may even be negative.

Keywords: Overlapping; generations; Endogenous; growth; Scale; effects (search for similar items in EconPapers)
Date: 2009

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Persistent link: http://EconPapers.repec.org/RePEc:eee:dyncon:v:33:y:2009:i:9:p:1639-1647

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