The genuine savings criterion and the value of population in an economy with endogenous fertility rate

Kenneth J. Arrow; Alain Bensoussan; Qi Feng; Suresh P. Sethi

The genuine savings criterion and the value of population in an economy with endogenous fertility rate

Kenneth J. Arrow
, Alain Bensoussan
, Qi Feng
, Suresh P. Sethi

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 12 - Chapter in an edited book (Author) › peer-review

2 Citations (Scopus)

Abstract

We study an economy in which the rate of population change depends on population policy decisions. This requires population as well as capital as state variables. By showing the algebraic relationship between the shadow price of the population and the shadow price of the per capita capital stock, we are still able to depict the optimal path and its convergence to the long-run equilibrium on a twodimensional phase diagram. Moreover, we derive explicitly the expression of genuine savings in our model to evaluate the sustainability of the system.

Original language	English
Title of host publication	Optimal Control of Age-Structured Populations in Economy, Demography, and the Environment
Editors	Raouf Boucekkine, Natali Hritonenko, Yuri Yatsenko
Publisher	Routledge
Chapter	1
Pages	20-44
Edition	1st
ISBN (Electronic)	978–0–203–84455–7
ISBN (Print)	978–0–415–77651–6
Publication status	Published - 2011
Externally published	Yes

Access Output

https://www.taylorfrancis.com/books/e/9781136920936

Other Access Options

Check CityUHK Library

Permanent Link

Right click to copy link

Cite this

Arrow, K. J., Bensoussan, A., Feng, Q., & Sethi, S. P. (2011). The genuine savings criterion and the value of population in an economy with endogenous fertility rate. In R. Boucekkine, N. Hritonenko, & Y. Yatsenko (Eds.), Optimal Control of Age-Structured Populations in Economy, Demography, and the Environment (1st ed., pp. 20-44). Routledge. https://www.taylorfrancis.com/books/e/9781136920936

@inbook{f46ba68138984b50af4f73360806227c,

title = "The genuine savings criterion and the value of population in an economy with endogenous fertility rate",

abstract = "We study an economy in which the rate of population change depends on population policy decisions. This requires population as well as capital as state variables. By showing the algebraic relationship between the shadow price of the population and the shadow price of the per capita capital stock, we are still able to depict the optimal path and its convergence to the long-run equilibrium on a twodimensional phase diagram. Moreover, we derive explicitly the expression of genuine savings in our model to evaluate the sustainability of the system.",

author = "Arrow, \{Kenneth J.\} and Alain Bensoussan and Qi Feng and Sethi, \{Suresh P.\}",

year = "2011",

language = "English",

isbn = "978–0–415–77651–6",

pages = "20--44",

editor = "Boucekkine, \{Raouf \} and Hritonenko, \{Natali \} and Yatsenko, \{Yuri \}",

booktitle = "Optimal Control of Age-Structured Populations in Economy, Demography, and the Environment",

publisher = "Routledge",

edition = "1st",

}

Arrow, KJ, Bensoussan, A, Feng, Q & Sethi, SP 2011, The genuine savings criterion and the value of population in an economy with endogenous fertility rate. in R Boucekkine, N Hritonenko & Y Yatsenko (eds), Optimal Control of Age-Structured Populations in Economy, Demography, and the Environment. 1st edn, Routledge, pp. 20-44. <https://www.taylorfrancis.com/books/e/9781136920936>

The genuine savings criterion and the value of population in an economy with endogenous fertility rate. / Arrow, Kenneth J.; Bensoussan, Alain; Feng, Qi et al.
Optimal Control of Age-Structured Populations in Economy, Demography, and the Environment. ed. / Raouf Boucekkine; Natali Hritonenko; Yuri Yatsenko. 1st. ed. Routledge, 2011. p. 20-44.

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 12 - Chapter in an edited book (Author) › peer-review

TY - CHAP

T1 - The genuine savings criterion and the value of population in an economy with endogenous fertility rate

AU - Arrow, Kenneth J.

AU - Bensoussan, Alain

AU - Feng, Qi

AU - Sethi, Suresh P.

PY - 2011

Y1 - 2011

N2 - We study an economy in which the rate of population change depends on population policy decisions. This requires population as well as capital as state variables. By showing the algebraic relationship between the shadow price of the population and the shadow price of the per capita capital stock, we are still able to depict the optimal path and its convergence to the long-run equilibrium on a twodimensional phase diagram. Moreover, we derive explicitly the expression of genuine savings in our model to evaluate the sustainability of the system.

AB - We study an economy in which the rate of population change depends on population policy decisions. This requires population as well as capital as state variables. By showing the algebraic relationship between the shadow price of the population and the shadow price of the per capita capital stock, we are still able to depict the optimal path and its convergence to the long-run equilibrium on a twodimensional phase diagram. Moreover, we derive explicitly the expression of genuine savings in our model to evaluate the sustainability of the system.

UR - https://www.scopus.com/pages/publications/84921290476

UR - https://www.scopus.com/record/pubmetrics.uri?eid=2-s2.0-84921290476&origin=recordpage

M3 - RGC 12 - Chapter in an edited book (Author)

SN - 978–0–415–77651–6

SP - 20

EP - 44

BT - Optimal Control of Age-Structured Populations in Economy, Demography, and the Environment

A2 - Boucekkine, Raouf

A2 - Hritonenko, Natali

A2 - Yatsenko, Yuri

PB - Routledge

ER -

The genuine savings criterion and the value of population in an economy with endogenous fertility rate

Abstract

Access Output

Other Access Options

Permanent Link

Other Files and Links

Fingerprint

Cite this