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Discounted utilitarianism treats generations unequally and leads to seemingly unappealing consequences in some models … of economic growth. Instead, this paper presents and applies sustainable discounted utilitarianism (SDU). SDU respects … the interests of future generations and resolves intergenerational conflicts by imposing on discounted utilitarianism that …
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Persistent low fertility rates lead to lower population growth rates and eventually also to decreasing population sizes in most industrialized countries. There are fears that this demographic development is associated with declines in per capita GDP and possibly also increasing inequality of the...
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We analyze the effects of children's health on human capital accumulation and on long-run economic growth. For this purpose we design an R&D-based growth model in which the stock of human capital of the next generation is determined by parental education and health investments. We show that i)...
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This paper answers the following two questions: 1) In the data, can we find a dilution effect of population growth also on per-capita human capital investment? If yes, 2) how can we use this fact to explain theoretically the existence of a differential impact of population change on economic...
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