Dynastic Altruism, Population, and R&D based Growth (original) (raw)

Economics Bulletin, 2016

Abstract

We show that non-linear dynastic altruism toward future generations yields a non-monotonic relation between population growth and economic prosperity, which is polynomial in general. The exact shape of this non-monotonic relation depends on the concavity of parental altruistic utility. Hence, this work contributes to a recent line of modified R&D-based growth models aimed at aligning theory with empirical evidence on the non-linear relation between population growth and economic prosperity.

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