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Altruism and the Poverty Risk in Old-Age

Author

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  • Medeiros, João

    (European Commission, Directorate General of Economic and Financial Affairs)

Abstract

Blanchard’s (1985) model is modified to build an OLG model with an increasing probability of death, endogenous growth and a bequest motive. The motivation is to obtain a more rich, realistic and flexible framework to reproduce -using numerical methods- some stylised facts of the age-profiles of education, consumption, and wealth variables. Moreover, this model can be used like Auerbach and Kotlikoff’s (1987) to simulate the impact of economic shocks in the transition between steady states.

Suggested Citation

  • Medeiros, João, 2000. "Altruism and the Poverty Risk in Old-Age," LIDAM Discussion Papers IRES 2000005, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    • Handle: RePEc:ctl:louvir:2000005
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    File URL: http://sites.uclouvain.be/econ/DP/IRES/2000-5.pdf
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    More about this item

    Keywords

    Human capital; endogenous growth; altruism; lifetime uncertainty; poverty; simulation;
    All these keywords.

    JEL classification:

    • D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy; Intergenerational Transfers
    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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