On the Golden Rule of capital accumulation under endogenous longevity

David de la Croix and Gregory Ponthiere

Working Papers from HAL

Abstract: This note derives the Golden Rule of capital accumulation in a Chakraborty-type economy, i.e. a two-period OLG economy where longevity is endogenous. It is shown that the capital per worker maximizing steady-state consumption per head is inferior to the Golden Rule capital level prevailing under exogenous longevity. We characterize also the Lifetime Golden Rule, that is, the capital per worker maximizing steady-state expected lifetime consumption per head, and show that this tends to exceed the standard Golden Rule capital level.

Keywords: Golden Rule; longevity; OLG models (search for similar items in EconPapers)
Date: 2008-09
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00586242v1
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://shs.hal.science/halshs-00586242v1/document (application/pdf)

Related works:
Journal Article: On the Golden Rule of capital accumulation under endogenous longevity (2010)
Working Paper: On the Golden Rule of capital accumulation under endogenous longevity (2010)
Working Paper: On the Golden Rule of capital accumulation under endogenous longevity (2010)
Working Paper: On the Golden Rule of capital accumulation under endogenous longevity (2008)
Working Paper: On the Golden Rule of capital accumulation under endogenous longevity (2008)
Working Paper: On the Golden Rule of capital accumulation under endogenous longevity (2008)
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:hal:wpaper:halshs-00586242

Access Statistics for this paper

More papers in Working Papers from HAL
Bibliographic data for series maintained by CCSD ().