Download a PDF - National Bureau of Economic Research | NBER
Our purpose is to define the welfare maximization problem for the present generation subject to the restriction that real consumption per capita (c) in each ...
On the long-run evolution of inheritance: France 1820-2050We quantify the impact of demographic change on real interest rates, house prices, and household debt in an overlapping-generations model. Real GDP per capita in developed countriesL(t) denotes the per capita capital whilst k(t) denotes the wealth of the individual. The equation for the moments of the distribution h(k,t) may be derived as,. Populating Aging and the MacroeconomyConsequently, growth in GDP per capita ? a broad measure of living standards ? is also expected to soften. An easing in the pace of GDP growth.
Autres Cours:
