Abstract
Abstract The present paper introduces a (biological) reproduction process of households into Barro's simple overlapping generations model with bequests. This leads to a model in which capital will typically be underaccumulated relative to the socially optimal level because of the coordination problem regarding bequests.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
