Investment efficiency and intergenerational income distribution: a paradoxical result

Using a simple overlapping generations model, this note shows that an improvement in the efficiency of human capital investment decreases the net income of the young household while increasing that of the old. Without compensating redistribution, it deteriorates lifetime utilities of all generations except for the initial old households.

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Year of publication:	2004-11-11
Authors:	Horii, Ryo ; Futagami, Koichi ; Kitagawa, Akiomi
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 15.2004, 2, p. 1-6
Publisher:	AccessEcon
Subject:	human capital

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Extent:	application/pdf
Type of publication:	Article
Classification:	O4 - Economic Growth and Aggregate Productivity
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010835789