Optimal Population Growth and the Social Welfare Function

George Constantinides

Eastern Economic Journal, 1988, vol. 14, issue 3, 229-238

Abstract: In this paper, optimum population and investment policies are analyzed in an optimal growth model where the social welfare function is of the form u(c, L). Two cases are considered: those of a constant returns to scale technology and a decreasing returns to scale technology. A modified Meade Rule for optimal population growth is derived. It is also shown that an optimal growth rate of population exists and allows for capital accumulation along the modified Golden Rule path. The results indicate a synthesis, in this model, of the per capita and the total utility approaches to this problem.

Date: 1988
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://web.holycross.edu/RePEc/eej/Archive/Volume14/V14N3P229_238.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eej:eeconj:v:14:y:1988:i:3:p:229-238

Access Statistics for this article

Eastern Economic Journal is currently edited by Cynthia A. Bansak, St. Lawrence University and Allan A. Zebedee, Clarkson University

More articles in Eastern Economic Journal from Eastern Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Victor Matheson, College of the Holy Cross ().