Equivalence scales in a rank-3 demand system

Article Abstract:

Rank-3 demand systems are Engel curves that span the function space in three dimensions to estimate and test equivalence scales, or the relative cost of demographic characteristics. Although rank-2 demand systems that contain nonlinear expenditure terms in its budget shares can also be used to test equivalence scales, tests in a nested framework suggest that rank-3 demand systems are better in generating empirical results. A detailed pattern of demographic costs is estimated using the informative structure of the rank-3 demand system.

Methods, Scaling (Social sciences)

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Endogenous fertility and the Henry George Theorem

Article Abstract:

An attempt is made to establish the existence of an isomorphism between the set of allocations in a local public goods model with endogenous population size and steady states in an overlapping-generations model with endogenous fertility. P.A. Samuelson's Serendipity Theorem, which corresponds to the so-called Henry George Theorem, and institutional arrangements that sustain optimum population growth are examined.

Welfare economics

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Mortality decline and long-run economic growth

Article Abstract:

Research is presented describing the study of population aging and the impact on investment and financial growth caused by a declining population.

Mortality, Economic forecasting

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