Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/46002 
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dc.contributor.authorLehmijoki, Ullaen
dc.date.accessioned2011-06-10-
dc.date.accessioned2011-06-28T13:52:54Z-
dc.date.available2011-06-28T13:52:54Z-
dc.date.issued2011-
dc.identifier.piurn:nbn:de:101:1-201104113424en
dc.identifier.urihttp://hdl.handle.net/10419/46002-
dc.description.abstractThe demographic transition is introduced into the otherwise standard Ramsey model to generate multiple equilibria, poverty traps, and demography-driven cycles. The model is calibrated for global data to explore the demographic conditions under which multiplicity is realized. Three cases arise, referring either to unique or multiple equilibria, and to transitional cycles. The calibrated model shows that multiple equilibria can explain a considerable fraction of the global income gap. The model provides a test to distinguish the trapped countries from those which just suffer from a long-lasting demographic recession, showing that the latter are more common than the former. Therefore, the economic effects of the demographic transition, even though considerable, are temporary rather than permanent.en
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x5469en
dc.subject.jelO41en
dc.subject.jelO11en
dc.subject.jelJ11en
dc.subject.ddc330en
dc.subject.keyworddemographic transitionen
dc.subject.keywordoptimal growthen
dc.subject.keywordmultiple equilibriaen
dc.subject.keywordpoverty trapsen
dc.subject.keywordcalibrationsen
dc.subject.stwDemographischer Übergangen
dc.subject.stwEntwicklungen
dc.subject.stwBevölkerungsökonomieen
dc.subject.stwGleichgewichten
dc.subject.stwOptimales Wachstumen
dc.subject.stwArmuten
dc.subject.stwTheorieen
dc.subject.stwWelten
dc.titlePopulation growth and multiple equilibria: Inferences from a modified Ramsey model-
dc.typeWorking Paperen
dc.identifier.ppn661918351en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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