The Optimum Growth Rate for Population Reconsidered

Klaus Jaeger and Wolfgang Kuhle ()
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Wolfgang Kuhle: Munich Center for the Economics of Aging (MEA), Postal: Amalienstr. 33, D-80799 Munich

No 7147, MEA discussion paper series from Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy

Abstract: This article gives exact general conditions for the existence of an interior optimum growth rate for population in the neoclassical two-generations-overlapping model. In an economy where high (low) growth rates of population lead to a growth path which is efficient (inefficient) there always exists an interior optimum growth rate for population. In all other cases there exists no interior optimum. The Serendipity Theorem, however, does in general not hold in an economy with government debt. Moreover, the growth rate for population which leads an economy with debt to a golden rule allocation can never be optimal.

Date: 2007-08-14
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