On Overlapping Generations Models With Productive Capital PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download On Overlapping Generations Models With Productive Capital PDF full book. Access full book title On Overlapping Generations Models With Productive Capital.
Author | : Günther Lang |
Publisher | : Springer Science & Business Media |
Total Pages | : 109 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 3642481523 |
Download On Overlapping Generations Models with Productive Capital Book in PDF, ePub and Kindle
This book was born out of a five-years research at Sonderforschungsbe reich 303 by the Deutsche Forschungsgemeinschaft (DFG) at Rheinische Friedrich-Wilhelms-Universitiit Bonn and was approved as my doctoral thesis by the Rechts-und Staatswissenschaftliche Fakultiit in December 1994. It was my former colleague Wolfgang Peters who had drawn my atten tion to overlapping-generations models and to problems of intergenerational efficiency and distribution. The subtle connection between the latter two has been fascinating me from the very beginning: redistribution of the results of free trade can become necessary from the point of view of efficiency, although no externalities hamper the development of an economy. In spite of being a matured part of economics, neoclassical growth theory had left many questions unsolved, some of them even unrecognized by a large part of our profession. I took up the challenge to contribute to the investigation of some of these thorny problems. One of these issues is the often quoted idea of the inter generational con tract. Although intergenerational transfers can improve intertemporal effi ciency, the design of pension schemes to achieve an improvement of well-being of some generations without hurting that of any other, is not an easy task in an economy with flexible prices. Quite frequently, only interest rate and growth rate are taken into account when deciding on whether a generation wins or looses.
Author | : Amitava Bose |
Publisher | : |
Total Pages | : 52 |
Release | : 1992 |
Genre | : Equilibrium (Economics) |
ISBN | : |
Download Monetary Equilibrium in an Overlapping Generations Model with Productive Capital Book in PDF, ePub and Kindle
Author | : Amitava Bose |
Publisher | : |
Total Pages | : |
Release | : 1990 |
Genre | : |
ISBN | : |
Download Monetary Equilibrium in an Overlapping Generations Model with Productive Capital Book in PDF, ePub and Kindle
Author | : David de la Croix |
Publisher | : Cambridge University Press |
Total Pages | : 400 |
Release | : 2002-10-24 |
Genre | : Business & Economics |
ISBN | : 9780521001151 |
Download A Theory of Economic Growth Book in PDF, ePub and Kindle
This book provides an in-depth treatment of the overlapping generations model in economics incorporating production.
Author | : Guido Cazzavillan |
Publisher | : |
Total Pages | : 0 |
Release | : 2012 |
Genre | : |
ISBN | : |
Download Dynamic Inefficiency in an Overlapping Generations Economy with Production Book in PDF, ePub and Kindle
Reichlin (JET, 1986) has shown in an OLG model with productive capital that whenever the steady state is locally indeterminate and undergoes a Hopf bifurcation, it is Pareto-optimal. While these results were established under the assumption of Leontief technology, the author has partially extended them to show that the Hopf bifurcation is robust with respect to the introduction of capitallabor substitution. In this note, we prove that the Pareto-optimality of the steady state does not extend to technologies with capital-labor substitution. When the steady state is a sink or undergoes a Hopf bifurcation, it is characterized by over-accumulation with respect to the Golden Rule - the interest rate is negative - hence not Pareto-optimal. Most importantly, it follows that stabilization policies targeting the steady state leave room for welfare losses associated with productive inefficiency, apart from the very special case of Leontief technology.
Author | : Hiroyuki Hashimoto |
Publisher | : |
Total Pages | : 26 |
Release | : 2001* |
Genre | : Equilibrium (Economics) |
ISBN | : |
Download On a Simple Model of Overlapping Generations with Human Capital Book in PDF, ePub and Kindle
This paper presents a simple model with overlapping-generations where finite-lived individuals accumulate human capital not taking the by-productive effect on future generations into account. In such model, the phenomenon of indeterminacy of equilibrium appears. Such indeterminancy does not occur in similar model presented in Hashimoto (1998). The substantial difference between the two models is whether or not individuals' behavior is altruistic. Non-altruism of individuals in overlapping-generations economy implies the lack of boundary condition in appropriate set of optimal conditions. Since it is well known that appropriately defined boundary-value problems have unique solutions, a shortage of boundary conditions implies indetermancy of equilibrium. From this viewpoint we may say that the source of indeterminacy is finite lifetimes of non-altruistic individuals.
Author | : Binh Tran-Nam |
Publisher | : |
Total Pages | : 25 |
Release | : 1995 |
Genre | : Education |
ISBN | : 9781863411943 |
Download Human Capital and Economic Growth in an Overlapping Generations Model Book in PDF, ePub and Kindle
Author | : Karl Farmer |
Publisher | : Springer Nature |
Total Pages | : 596 |
Release | : 2021-04-01 |
Genre | : Business & Economics |
ISBN | : 3662629437 |
Download Growth and International Trade Book in PDF, ePub and Kindle
Revised and updated for the 2nd edition, this textbook guides the reader towards various aspects of growth and international trade in a Diamond-type overlapping generations framework. Using the same model type throughout the book, timely topics such as growth with bubbles, robots and involuntary unemployment, financial integration and house price dynamics, policies to mitigate climate change and the persistence of religion in a globalized market economy are explored. The first part starts from the “old” growth theory and bridges to the “new” growth theory (including R&D and human capital approaches). The second part presents an intertemporal equilibrium theory of inter- and intra-sectoral trade, investigates innovation, growth and trade and limits to public debt as well as nationally and internationally optimal climate policies. The debt dynamics of the Euro Zone and the origins of intra-EMU and Asian-US trade imbalances are also explored. The book is primarily addressed to upper undergraduate and graduate students wishing to proceed to the analytically more demanding journal literature.
Author | : Jens-Ulrich Peter |
Publisher | : |
Total Pages | : 0 |
Release | : 2004 |
Genre | : |
ISBN | : |
Download Business Cycle Phenomena in Overlapping Generations Economies with Stochastic Production Book in PDF, ePub and Kindle
This paper analyzes economic fluctuations in an overlapping generations economy with productive capital in which random shocks in aggregate productivity are present. Under specific assumptions we obtain an explicit solution of the model. Applying random dynamical systems theory, we can prove that the long-run behavior of the economy is uniquely described by an asymptotically stable random fixed point. The statistical properties of the aggregates output, consumption, capital stock, and real wage are investigated numerically. We find that our artificial economy displays several real world business cycle phenomena.
Author | : Rudiger Dornbusch |
Publisher | : |
Total Pages | : 20 |
Release | : 1981 |
Genre | : Equilibrium (Economics). |
ISBN | : |
Download Intergenerational and International Trade Book in PDF, ePub and Kindle