; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Efficiency with Endogenous Population Growth"; ; "batchuser@example.com"; "Tertilt, Michèle", "Golosov, Mikhail", "Jones, Larry E."; "Federal Reserve Bank of Minneapolis"; "Pareto optimality", "Altruism", "Fertility", "Dynasty", "First welfare theorem"; "In this paper, we generalize the notion of Pareto-efficiency to make it applicable to environments with endogenous populations. Two efficiency concepts are proposed, P-efficiency and A-efficiency. The two concepts differ in how they treat people who are not born. We show how these concepts relate to the notion of Pareto-efficiency when fertility is exogenous. We then prove versions of the first welfare theorem assuming that decision making is efficient within the dynasty. Finally, we give two sets of sufficient conditions for noncooperative equilibria of family decision problems to be efficient. These include the Barro and Becker model as a special case. "^^; "2004-01"; "2019-06-25T13:53:15.942856288+00:00"^^; "https://doi.org/10.21034/wp.630"; ; "Wed Oct 23 17:53:09 2019"; "Research Paper"; "279", "784", "374"; "Working paper (Federal Reserve Bank of Minneapolis. Research Department)"; "630"; "Fertility", "First welfare theorem", "Pareto optimality", "Altruism", "Dynasty"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; "Published in _Econometrica_ (Vol. 75, Iss. 4, July 2007, pp. 1039-1071), https://doi.org/10.1111/j.1468-0262.2007.00781.x."^^; ; "Publication" . ; .