On Efficient Child Making

Philippe Michel and Bertrand Wigniolle ()
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Bertrand Wigniolle: CES - Centre d'économie de la Sorbonne - CNRS : UMR8174 - Université Panthéon-Sorbonne - Paris I

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: This paper is devoted to the study of the Pareto-efficiency of the competitive equilibrium for an overlapping generations economy with endogenous fertility. Pareto-efficiency needs a reformulation when fertility is endogenous. Then it is proved that a competitive equilibrium that converges in over-accumulation is non-Pareto-efficient. However, we provide an example in which a competitive equilibrium that converges in under-accumulation is non-Pareto-efficient. Finally, we give a general condition that ensures the Pareto-efficiency of the competitive equilibrium.

Keywords: endogenous fertility; Pareto-efficiency (search for similar items in EconPapers)
Date: 2007-05
Note: View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00185259/en/
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Published, Economic Theory, 2007, 31, 2, 307-326

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Journal Article: On Efficient Child Making (2007)
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Persistent link: http://EconPapers.repec.org/RePEc:hal:cesptp:halshs-00185259_v1

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