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Author : Bengt-Arne Wickström
Publisher :
ISBN 13 :
Total Pages : 16 pages
Book Rating : 4.:/5 (753 download)
Download or read book Optimal Investment in Human Capital in a Simple Overlapping-generations Model written by Bengt-Arne Wickström and published by . This book was released on 1990 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Anu Rammohan
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (318 download)
Download or read book Optimal Demand for Human Capital written by Anu Rammohan and published by . This book was released on 1998 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Binh Tran-Nam
Publisher :
ISBN 13 : 9781863411943
Total Pages : 25 pages
Book Rating : 4.4/5 (119 download)
Download or read book Human Capital and Economic Growth in an Overlapping Generations Model written by Binh Tran-Nam and published by . This book was released on 1995 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Hiroyuki Hashimoto
Publisher :
ISBN 13 :
Total Pages : 26 pages
Book Rating : 4.:/5 (248 download)
Download or read book On a Simple Model of Overlapping Generations with Human Capital written by Hiroyuki Hashimoto and published by . This book was released on 2001* with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a simple model with overlapping-generations where finite-lived individuals accumulate human capital not taking the by-productive effect on future generations into account. In such model, the phenomenon of indeterminacy of equilibrium appears. Such indeterminancy does not occur in similar model presented in Hashimoto (1998). The substantial difference between the two models is whether or not individuals' behavior is altruistic. Non-altruism of individuals in overlapping-generations economy implies the lack of boundary condition in appropriate set of optimal conditions. Since it is well known that appropriately defined boundary-value problems have unique solutions, a shortage of boundary conditions implies indetermancy of equilibrium. From this viewpoint we may say that the source of indeterminacy is finite lifetimes of non-altruistic individuals.
Author : Karl Farmer
Publisher : Springer Nature
ISBN 13 : 3662629437
Total Pages : 596 pages
Book Rating : 4.6/5 (626 download)
Download or read book Growth and International Trade written by Karl Farmer and published by Springer Nature. This book was released on 2021-04-01 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt: Revised and updated for the 2nd edition, this textbook guides the reader towards various aspects of growth and international trade in a Diamond-type overlapping generations framework. Using the same model type throughout the book, timely topics such as growth with bubbles, robots and involuntary unemployment, financial integration and house price dynamics, policies to mitigate climate change and the persistence of religion in a globalized market economy are explored. The first part starts from the “old” growth theory and bridges to the “new” growth theory (including R&D and human capital approaches). The second part presents an intertemporal equilibrium theory of inter- and intra-sectoral trade, investigates innovation, growth and trade and limits to public debt as well as nationally and internationally optimal climate policies. The debt dynamics of the Euro Zone and the origins of intra-EMU and Asian-US trade imbalances are also explored. The book is primarily addressed to upper undergraduate and graduate students wishing to proceed to the analytically more demanding journal literature.
Author : Binh Tran-Nam
Publisher :
ISBN 13 : 9781863411059
Total Pages : 15 pages
Book Rating : 4.4/5 (11 download)
Download or read book Human Capital, Optimal Educational Tax and Economic Growth in an Overlapping Generation Model written by Binh Tran-Nam and published by . This book was released on 1993 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Evert van Imhoff
Publisher : Springer Science & Business Media
ISBN 13 : 3642838952
Total Pages : 229 pages
Book Rating : 4.6/5 (428 download)
Download or read book Optimal Economic Growth and Non-Stable Population written by Evert van Imhoff and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book studies optimal economic growth in a closed economy which experiences non-stable population growth. The economy is described by means of a neoclassical growth model which distinguishes overlapping generations within the population. The basic neoclassical growth model is extended to include various types of technical change, as well as investment in human capital or education. The research described in this book connects the analytical tools of traditional growth theory with the actual demographic experience of most industrialized countries. The role of demographic processes in the growth theoretical literature is discussed in the next section. The discussion will show that growth theory needs to extend its scope through the construction of growth models which explicitly recognize demographic forces as a potential source of non-stationarities. This book constitutes a first attempt at such a demographic extension. 1.1 Growth theory and demographic change The theory of economic growth (e.g. Solow, 1970; Burmeister & Dobell, 1970; Wan, 1971) attempts to describe and to explain the long-run development of an economic system (or, in short, economy). An economic system is essentially dynamic in nature. Among the most important sources of dynamics in economics are the following: accumulation of capital (investment); technical change; population growth. Some of these dynamic forces are, at least in part, endogenous to the economic system (i.e. determined by economic variables).
Author : Alexandros T. Mourmouras
Publisher :
ISBN 13 :
Total Pages : 190 pages
Book Rating : 4.:/5 (319 download)
Download or read book Two Essays on Human Capital Accumulation and Economic Growth written by Alexandros T. Mourmouras and published by . This book was released on 1988 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : James Lowell Dietz
Publisher :
ISBN 13 :
Total Pages : 432 pages
Book Rating : 4.3/5 (121 download)
Download or read book Optimal Control of Individual Human Capital Investment written by James Lowell Dietz and published by . This book was released on 1974 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Pierre Ninh Van Tu
Publisher : Calgary : Department of Economics, University of Calgary
ISBN 13 :
Total Pages : 26 pages
Book Rating : 4.:/5 (359 download)
Download or read book Human Capital in in an Overlapping Generations Economic Growth Model written by Pierre Ninh Van Tu and published by Calgary : Department of Economics, University of Calgary. This book was released on 1994 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gideon Yaniv
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (19 download)
Download or read book Human Capital Within a Growth Model of Overlapping Generations written by Gideon Yaniv and published by . This book was released on 1974 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Akira Sadahiro
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Computable Overlapping Generations Model with an Endogenous Growth Mechanism written by Akira Sadahiro and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We developed the Overlapping Generations model based on the endogenous growth theory, incorporating Human Capital Stock and conducted some simulations under the alternative population growth patterns and some sensitivity analysis with respect to some key parameters. The main results are as follows: 1) the endogenously determined growth rate of human capital offsets the negative population growth rates. 2) the individual has an incentive to allocate his/her time into schooling investment for accumulating his/her human capital in the phase of declining population growth. 3) there is a negative correlation between the growth rate of labor supply and human capital.
Author : Yoshitaka Koda
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (11 download)
Download or read book Decomposing Human Capital : Education and Health Investments in the Time of Population Aging written by Yoshitaka Koda and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Why is the retirement age rigid while longevity improves? What are the plausible explanations for the recent upsurge in health expenditure while education expenditure has been stalemated? Complementarity between education and health capital, which encouraged education and health investments, enabled rapid economic growth and greater life expectancy in the developed economies. However, it was lost at some point in the last century, and the subsequent rise of trade-off between education and health capital has brought about low economic growth and high old-age dependency, namely the problems of population aging. By endogenizing both education and health capital accumulations, this dissertation develops the three-period overlapping generations models in order to investigate the issues such as rigidity of retirement age, financially unsustainable social security systems, and collapse of traditional family. The main findings of this dissertation are as follows: First, when highly innovative environments accelerate depreciation of productivity at old-age, people chose early retirement even if they are expected to live longer. Second, Pay-As-You-Go (PAYG) social security distorts both education and health investment decisions. The double moral hazards induce lower education and higher health investments than their optimal levels. Third, economic growth and longevity depend on the degrees of parental and filial altruism, respectively. If people are parentally and filially altruistic at varied degrees, policy changes affect their welfare differently. On the whole, the models in this dissertation succeed in replicating the trade-off between education and health capital and reveal that, in the advanced societies, investments in health tend to increase at the cost of those in education.
Author : John W. Graham
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (31 download)
Download or read book The Optimal Accumulation of Human Capital Over the Life Cycle written by John W. Graham and published by . This book was released on 1979 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper summarizes the important contributions of the new life cycle human capital literature and demonstrates that many of these results can be derived more simply than in their original presentations. Within three period discrete-time framework it is demonstrated how the optimal pattern of human capital investment over the life cycle depends upon the choice of the objective function, the life cycle of leisure, and the extent of nonmarket benefits of human capital. The paper offers sufficient conditions for the optimality of a profile of monotonically declining investment activity over the life cycle.
Author : Shankha Chakraborty
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Mortality, Human Capital and Persistent Inequality written by Shankha Chakraborty and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Available evidence suggests high intergenerational correlation of economic status, and persistent disparities in health status between the rich and the poor. This paper proposes a novel mechanism linking the two. We introduce health human capital into a two-period overlapping generations model. Private health investment improves the probability of surviving from the first period of life to the next and, along with education, enhances an individual's labor productivity. Poorer parents are of poor health, unable to invest much in reducing mortality risk and improving their human capital. Consequently, they leave less for their progeny. Despite convex preferences, technology and complete markets, initial differences in economic and health status may perpetuate across generations.
Author : Yoram Weiss
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (119 download)
Download or read book A Multiplicative Model of Investment in Human Capital written by Yoram Weiss and published by . This book was released on 1976 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this paper is to analyze the effects of changes in exogenous parameters such as the interest rate, the length of the working period and initial endowments on the shape of the observed earnings profile. Though this problem can be treated in general, we shall restrict ourselves to the following "inverse optimal" problem: find a form of the trade-off function between current and future earnings which leads to a logarithmic earnings function. In the paper we demonstrate that logarithmic earning functions can be derived from optimal behavior. Specifically, the simple case which we analyze leads to piece wise linear log earnings functions. Such a derivation has the advantage that the effects on earnings of exogenous factors can be consistently analyzed. The model is sufficiently simple to allow a clear exposition of the basic elements which govern earnings in a static world. The same elements appear in the more complicated derivations currently available in the literature but it is more difficult to trace their impact. The multiplicative model provides additional information on the robustness of the results previously derived from the Ben-Porath specification. This is particularly important since the "production function" for human capital is not directly observable and alternative specification can only be compared in terms of their implications with respect to observed earnings.
Author : Mark A. Roberts
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Conflating Effects of Education and Financial Competition in an Overlapping Generations-Growth Model with Nelson-Phelps Human Capital written by Mark A. Roberts and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Nelson-Phelps concept of human capital, determining the speed at which a new technology may be implemented, is considered within an AK, overlapping-generations model, where finance firms act as local monopolies in the loan market but as monopsonistic price-takers in the deposit market. Households also vote for taxes earmarked for public investment in education and, thence, the subsequent level of human capital. A concentrated financial market structure, despite directly lowering economic growth, may indirectly raise it through provoking a political economy response of voting for higher taxes for greater levels of Nelson-Phelps human capital.
