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Population growth and optimality

When does serendipity hold?


This note gives the conditions under which there is an interior optimum rate of population growth in a two-generations-overlapping model. These conditions imply complementarity both in production and in consumption. They also validate Samuelson's serendipity theorem.

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Michele, P., Pestieau, P. Population growth and optimality. J Popul Econ 6, 353–362 (1993).

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  • Population Growth
  • Optimum Rate
  • Serendipity Theorem