Population Dynamics: A Renaissance in the Economic Approach

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This book fills the gap between the classical supply-side theory of Malthus and the modern demand-side theory of economic demography. Specifically, it investigates the dynamic macroeconomic implications of various static microeconomic-family economic decisions. It is within this framework that Professor Chu studies the income distribution, the attitude composition, the job structure, and the savings (including pensions) of the population. Chu applies a mathematical apparatus, the theory of branching processes, to his problem, and supplies the reader with much detail and several discursive discussions on the topic. Graduate-level students, professors, and professional economists will be interested in Chu's efforts.