Article ID Journal Published Year Pages File Type
5057952 Economics Letters 2016 4 Pages PDF
Abstract

•This article attempts to characterise the global dynamics of an economy with bequeathed tastes (aspirations) and endogenous fertility.•Endogenous fertility is responsible for preventing endogenous fluctuations.•Aspirations represent an additional explanation for the declining fertility observed in developed countries.

In contrast with the existing literature with overlapping generations, aspirations and exogenous fertility, this article shows that endogenous fertility prevents endogenous fluctuations in a general equilibrium economy.

Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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