Property rights and efficiency in OLG models with endogenous fertility
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چکیده
منابع مشابه
Property rights and efficiency in OLG models with endogenous fertility
Is there an economic rationale for pronatalist policies? We propose and analyze a particular market failure that leads to inefficiently low fertility in equilibrium. The friction is caused by the lack of ownership of children: if parents have no claim on their children’s income, the private benefit from producing a child can be smaller than the social benefit. We analyze an overlapping-generati...
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in this paper, we develop a ramsey-type endogenous growth model in which government spending on property rights protection is a major determinant of economic growth. this model includes equations for welfare, private and public sectors production. we introduce the legal efficiency into private production function, and x-inefficiency parameter into public production function. also, we consider t...
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This paper uses hypothetical contractarianism to consider the value of children’s rights laws as a means of protecting children. Laws protecting children from their parents have the unintended but predictable consequence of making child-rearing less desirable for some parents and thereby reducing the number of children born. Such laws therefore produce a trade-off between the expected wellbeing...
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ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 2014
ISSN: 0022-0531
DOI: 10.1016/j.jet.2013.09.016