In the framework of an overlapping generations model, forward-looking monetary policy roles and backward-looking monetary policy rules were investigated. It is shown that the monetary steady state is more likely to be...In the framework of an overlapping generations model, forward-looking monetary policy roles and backward-looking monetary policy rules were investigated. It is shown that the monetary steady state is more likely to be indeterminate under an active forwardlooking rule than under the corresponding backward-looking rule. It is also shown that backward-looking roles can render the monetary steady state unstable.展开更多
The paper shows that there do exist two kinds of steady states equilibria in the overlapping generations models with consumption and production loans, similar to the pure exchange economies examined by Gale （1973）. ...The paper shows that there do exist two kinds of steady states equilibria in the overlapping generations models with consumption and production loans, similar to the pure exchange economies examined by Gale （1973）. Furthermore, the local stability properties of these two （kinds of） steady states are also investigated： In the classical case, the golden-rule steady state is stable and the balanced steady state is saddle-point stable; however, in the Samuelson case, the golden-rule steady state is saddle-point stable and the balanced steady state is stable.展开更多
This study examines long run economic cost of HIV/AIDS on agriculture. Twenty-two African Countries were identified through purposive sampling. The sampling procedure helped to identify 1420 affected households. Howev...This study examines long run economic cost of HIV/AIDS on agriculture. Twenty-two African Countries were identified through purposive sampling. The sampling procedure helped to identify 1420 affected households. However, 1300 observations were found suitable for the subsequent analysis. Data were subjected to descriptive statistics and Overlapping Generation (OLG) model. The causes of high prevalence rates are the issue of poverty, fertility, myth and migration among others. Factors responsible for the classification of high HIV/AIDS prevalence rates were the patterns of spread of infectious disease that are closely associated with patterns of human mobility. For lower HIV/AIDS prevalence rate factors were low values of procreation and high values placed on morals. A positive correlation between HIV prevalence and GDP per capita was found. The study found out that there is a curvilinear relationship between the course of the HIV/AIDS epidemic and agricultural/economic growth in terms of human capita development.展开更多
This article describes some dynamic aspects on dynastic utility incorporating two-sided altruism with an OLG setting. The special case is analyzed where the weights of two-sided altruism are dynamically inconsistent. ...This article describes some dynamic aspects on dynastic utility incorporating two-sided altruism with an OLG setting. The special case is analyzed where the weights of two-sided altruism are dynamically inconsistent. The Bellman equation for two-sided altruism proves to be reduced to one-sided dynamic problem, but the effective discount factor is different only in the current generation. It is shown that a contraction mapping result of value function cannot be achieved in general, and that there can locally exist an infinite number of self-consistent policy functions of the class C＂ with distinct steady states （indeterminacy of self-consistent, differentiable policy functions）.展开更多
Gansu Province in the northwest of China, so the research on the impact of delay retirement in Gansu province have a certain representation. This paper analyzes the current situation of human resources in Gansu provin...Gansu Province in the northwest of China, so the research on the impact of delay retirement in Gansu province have a certain representation. This paper analyzes the current situation of human resources in Gansu province the proportion of the labor force is relatively low, the age structure of aging, education, human resources quality is still not high, the use of theoretical analysis method of overlapping generations model and AHP method to verify the proposed implementation. The delay retirement policy to increase the effective adjustment of Gansu province to improve the structure of human resources, better solve the problem of human resources structure in Gansu Province, so as to enhance Gansu＇s core competitive advantage.展开更多
We build a simple overlapping generation model to investigate the effect of life expectancy on the real exchange rate where fertility is chosen endogenously.The model reveals that,although the overall effect of life e...We build a simple overlapping generation model to investigate the effect of life expectancy on the real exchange rate where fertility is chosen endogenously.The model reveals that,although the overall effect of life expectancy on the real exchange rate is not certain,longer life expectancy tends to cause the real exchange rate to depreciate by reducing fertility.Fertility thus serves as a mediator in the effect of life expectancy on the real exchange rate.Evidence from 148 economies(1980-2018)shows a statistically significant and robust negative relationship between life expectancy and the real exchange rate.It is estimated that a I year increase in life expectancy is associated with a 1.5 percent depreciation in the real exchange rate.The evidence also confirms the mediated effect of fertility.The mediated effect that fertility exerts accounts for 30 percent to 50 percent of the total effect,depending on the real exchange rate index used.展开更多
基金Project supported by National Natural Science Foundation of China （Grant No. 70071012）
文摘In the framework of an overlapping generations model, forward-looking monetary policy roles and backward-looking monetary policy rules were investigated. It is shown that the monetary steady state is more likely to be indeterminate under an active forwardlooking rule than under the corresponding backward-looking rule. It is also shown that backward-looking roles can render the monetary steady state unstable.
文摘The paper shows that there do exist two kinds of steady states equilibria in the overlapping generations models with consumption and production loans, similar to the pure exchange economies examined by Gale （1973）. Furthermore, the local stability properties of these two （kinds of） steady states are also investigated： In the classical case, the golden-rule steady state is stable and the balanced steady state is saddle-point stable; however, in the Samuelson case, the golden-rule steady state is saddle-point stable and the balanced steady state is stable.
文摘This study examines long run economic cost of HIV/AIDS on agriculture. Twenty-two African Countries were identified through purposive sampling. The sampling procedure helped to identify 1420 affected households. However, 1300 observations were found suitable for the subsequent analysis. Data were subjected to descriptive statistics and Overlapping Generation (OLG) model. The causes of high prevalence rates are the issue of poverty, fertility, myth and migration among others. Factors responsible for the classification of high HIV/AIDS prevalence rates were the patterns of spread of infectious disease that are closely associated with patterns of human mobility. For lower HIV/AIDS prevalence rate factors were low values of procreation and high values placed on morals. A positive correlation between HIV prevalence and GDP per capita was found. The study found out that there is a curvilinear relationship between the course of the HIV/AIDS epidemic and agricultural/economic growth in terms of human capita development.
文摘This article describes some dynamic aspects on dynastic utility incorporating two-sided altruism with an OLG setting. The special case is analyzed where the weights of two-sided altruism are dynamically inconsistent. The Bellman equation for two-sided altruism proves to be reduced to one-sided dynamic problem, but the effective discount factor is different only in the current generation. It is shown that a contraction mapping result of value function cannot be achieved in general, and that there can locally exist an infinite number of self-consistent policy functions of the class C＂ with distinct steady states （indeterminacy of self-consistent, differentiable policy functions）.
文摘Gansu Province in the northwest of China, so the research on the impact of delay retirement in Gansu province have a certain representation. This paper analyzes the current situation of human resources in Gansu province the proportion of the labor force is relatively low, the age structure of aging, education, human resources quality is still not high, the use of theoretical analysis method of overlapping generations model and AHP method to verify the proposed implementation. The delay retirement policy to increase the effective adjustment of Gansu province to improve the structure of human resources, better solve the problem of human resources structure in Gansu Province, so as to enhance Gansu＇s core competitive advantage.
基金supported financially by the National Social Science Foundation of China(Nos.19BJL131,19BJL029)the National Natural Science Foundation of China(No.71973109)。
文摘We build a simple overlapping generation model to investigate the effect of life expectancy on the real exchange rate where fertility is chosen endogenously.The model reveals that,although the overall effect of life expectancy on the real exchange rate is not certain,longer life expectancy tends to cause the real exchange rate to depreciate by reducing fertility.Fertility thus serves as a mediator in the effect of life expectancy on the real exchange rate.Evidence from 148 economies(1980-2018)shows a statistically significant and robust negative relationship between life expectancy and the real exchange rate.It is estimated that a I year increase in life expectancy is associated with a 1.5 percent depreciation in the real exchange rate.The evidence also confirms the mediated effect of fertility.The mediated effect that fertility exerts accounts for 30 percent to 50 percent of the total effect,depending on the real exchange rate index used.
