Omar Licandro

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We study how economic growth is affected by demographics in an OLG model with a realistic survival law. Individuals optimally chose the dates at which they leave school to work and at which they retire. Endogenous growth arises thanks to the accumulation of generation-specific human capital. Favorable shifts in the survival probabilities induce longer(More)
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In this paper an AK growth model is fully analyzed under the time to build assumption. The existence and uniqueness of the balance growth path and the oscillatory convergence of detrended capital while detrended consumption is constant over time is proved. Moreover the role of transversality conditions and the assumption of capital utilization, make these(More)
This paper analyzes the equilibrium dynamics of an AK-type endogenous growth model with vintage capital. The inclusion of vintage capital leads to oscillatory dynamics governed by replacement echoes, which additionally influence the intercept of the balanced growth path. These features, which are in sharp contrast to those from the standard AK model, can(More)
This paper uses a general equilibrium trade framework to estimate the contribution of transport infrastructure to regional development. I apply the analysis to India, a country with a notoriously weak and congested transportation infrastructure. I first analyze the development effects of a recent Indian highway project that improved connections between the(More)
The productivity slowdown faced by the US economy since the first oil shock has been associated with a rise in the decline rate of the relative price of equipment and a reduction in the rate of disembodied technical change. We build up a growth model in which learning-bydoing is the engine of both embodied and disembodied technological progress. A change in(More)
We consider an overlapping generations model with uncertain lifetime and endogenous growth. Individuals have to choose the length of time devoted to schooling before starting to work. We show that it depends positively on life expectancy but that the positive e ect of a longer life on growth could be o set by a decrease in the participation rate. Dynamics(More)
We propose a new theory of the demographic transition based on the evidence that body development during childhood is an important predictor of adult life expectancy. This theory is embodied in an OLG framework where fertility, longevity and education all result from individual decisions. The model displays different regimes, allowing the economy to move(More)
This paper investigates the evolution of wealth distribution in a one sector growth model along its transition path. A key feature of the model is that a household ́s consumption cannot fall below a positive level each period. This requirement introduces a positive association between the intertemporal elasticity of substitution and household wealth.(More)