In this paper,incorporating the fertility in the utility function and the production function,an improved Ramsey-Cass-Koopmans(RCK)model with endogenous fertility is obtained.In this model,the fertility can be express...In this paper,incorporating the fertility in the utility function and the production function,an improved Ramsey-Cass-Koopmans(RCK)model with endogenous fertility is obtained.In this model,the fertility can be expressed as a function of per capita capital and per capital consumption.It has been proved that at least one equilibrium point exists and the equilibrium point is unique under a condition.The author discusses the possibility of existing multiple equilibria,their geometrical relationship and explains the economic sense of the main results.展开更多
文摘In this paper,incorporating the fertility in the utility function and the production function,an improved Ramsey-Cass-Koopmans(RCK)model with endogenous fertility is obtained.In this model,the fertility can be expressed as a function of per capita capital and per capital consumption.It has been proved that at least one equilibrium point exists and the equilibrium point is unique under a condition.The author discusses the possibility of existing multiple equilibria,their geometrical relationship and explains the economic sense of the main results.
