Life-cycle savings, bequest, and a diminishing impact of scale on growth

Carl-Johan Lars Dalgaard; Martin Kaae Jensen

doi:10.1016/j.jedc.2009.03.002

Life-cycle savings, bequest, and a diminishing impact of scale on growth

Carl-Johan Lars Dalgaard, Martin Kaae Jensen

2 Citations (Scopus)

Abstract

The present paper shows that the savings motive critically affects the size and sign of scale effects in standard endogenous growth models. If the bequest motive dominates, the scale effect is positive. If the life-cycle motive dominates, the scale effect is ambiguous and may even be negative.

Original language	English
Journal	Journal of Economic Dynamics and Control
Volume	33
Issue number	9
Pages (from-to)	1639-1647
Number of pages	9
ISSN	0165-1889
DOIs	https://doi.org/10.1016/j.jedc.2009.03.002
Publication status	Published - 2009

Keywords

Faculty of Social Sciences
overlapping generations
scale effects
endogenous growth

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10.1016/j.jedc.2009.03.002

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title = "Life-cycle savings, bequest, and a diminishing impact of scale on growth",

abstract = "The present paper shows that the savings motive critically affects the size and sign of scale effects in standard endogenous growth models. If the bequest motive dominates, the scale effect is positive. If the life-cycle motive dominates, the scale effect is ambiguous and may even be negative.",

keywords = "Faculty of Social Sciences, overlapping generations, scale effects, endogenous growth",

author = "Dalgaard, {Carl-Johan Lars} and Jensen, {Martin Kaae}",

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year = "2009",

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language = "English",

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AU - Dalgaard, Carl-Johan Lars

AU - Jensen, Martin Kaae

N1 - JEL classification: O41, O57

PY - 2009

Y1 - 2009

N2 - The present paper shows that the savings motive critically affects the size and sign of scale effects in standard endogenous growth models. If the bequest motive dominates, the scale effect is positive. If the life-cycle motive dominates, the scale effect is ambiguous and may even be negative.

AB - The present paper shows that the savings motive critically affects the size and sign of scale effects in standard endogenous growth models. If the bequest motive dominates, the scale effect is positive. If the life-cycle motive dominates, the scale effect is ambiguous and may even be negative.

KW - Faculty of Social Sciences

KW - overlapping generations

KW - scale effects

KW - endogenous growth

U2 - 10.1016/j.jedc.2009.03.002

DO - 10.1016/j.jedc.2009.03.002

M3 - Journal article

SN - 0165-1889

VL - 33

SP - 1639

EP - 1647

JO - Journal of Economic Dynamics and Control

JF - Journal of Economic Dynamics and Control

IS - 9

ER -

Life-cycle savings, bequest, and a diminishing impact of scale on growth

Abstract

Keywords

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