Econometrica

Journal Of The Econometric Society

An International Society for the Advancement of Economic
Theory in its Relation to Statistics and Mathematics

Edited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262

Econometrica: Nov, 1971, Volume 39, Issue 6

Optimal Savings Policy When Labor Grows Endogenously

https://doi.org/0012-9682(197111)39:6<877:OSPWLG>2.0.CO;2-7
p. 877-897

Eric G. Davis, Ryuzo Sato

This paper is an attempt to study optimal savings policy in a world where the growth rate of labor responds to economic factors. This modification makes the form of society's social welfare function important--its elasticity affects "real" economic variables. In addition, a rule for direct population control is investigated.


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