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Endogenous growth, population dynamics, and returns to scale

online resource

posted on 2023-08-05, 11:31 authored by James Heintz, Nancy Folbre

This paper begins with a description of those long-run macroeconomic growth models we like the best—those that allow for endogenous growth or fertility—but that we nonetheless consider unpersuasive. It then turns to an exposition of an alternative model that combines features of endogenous growth models with endogenous population dynamics in a way that allows for more realistic microeconomic foundations. The final discussion of policy implications returns to the emphasis on the role of social institutions acknowledged in early overlapping generations models.

History

Publisher

American University (Washington, D.C.)

Notes

The Care Work and the Economy (CWE-GAM) Project is striving to reduce gender gaps ineconomic outcomes and enhance gender equality by illuminating and properly valuing the broader economic and social contributions of caregivers and integrating care in macroeconomic policymaking toolkits. We work to provide policymakers, scholars, researchers and advocacy groups with gender-aware data, empirical evidence, and analytical tools needed to promote creative, gender-sensitive macroeconomic and social policy solutions. In this era of demographic shifts and economic change, innovative policy solutions to chronic public underinvestment in care provisioning and infrastructures and the constraints that care work places on women’s life and employment choices are needed more than ever. Sustainable development requires gender sensitive policy tools that integrate emerging understandings of care work and its connection with labor supply, and economic and welfare outcomes.