Efficiency in an Overlapping Generations model with Endogenous Population.∗

In this paper we have undertaken an optimality study in an overlapping generation model with endogenous fertility and exogenous endowments. The contribution of this paper were twofold. First, we present two definitions of Pareto dominance and, consequently, of Pareto efficiency. It is shown that conceptual problems (which could also be said “ethical”) arises when fertility decisions are analyzed. Second, the necessary (static) and sufficient (dynamic) efficient conditions have been shown