Neoclassical growth with endogenous age distribution. Poverty vs low-fertility traps as steady states of demographic transitions

Compared to other factors, the role of the age distribution of the population as a key endogenous determinant of economic growth trajectories has traditionally been overlooked. This is unrealistic, especially when dealing with major epochs of structural change, such as demographic transitions. We set up a model combining a simple representation of the economy, based on the neoclassical growth model of Solow, with a comprehensive representation of population dynamics. The model is used to investigate the structure of balanced growth states of the population and the economy in the presence of demographic transitions. The analysis shows that proper inclusion of age structure enriches the spectrum of the long-run equilibria of the neoclassical model, allowing up to five states of balanced growth, and shows the onset of “poverty” and “low-fertility” traps as different facets of fertility transitions. The role of different timing of fertility, mortality and savings transitions, and of more realistic demography of capital, is also considered.     

The Political System as a Problem for the Trade Unions in Italy: 1975-1983

ABSTRACT: This article focuses on a particular aspect of the evolution of the Italian trade unions, that is the problems faced by them in dealing with the political institutions and structures, or, in other words, the political system. We consider this period from the mid‘70s to the early 80s, because it represents the culmination of a gradual development in both unions and institutions during the previous years, and the resulting problems that evolved in the interaction between them and the political institutions. We look at how the unions’political action was modified during this lapse of time, and draw some conclusions about the unions resulting political role.