Strategic Saving and Non-Negative Gifts

O'Connell and Zeldes (1993) have shown that the dynamic inefficiency result of a standard gift model is reversed if parents can undersave strategically. I impose an explicit non-negativity constraint on gifts, which - for all numerical examples suggested by O'Connell and Zeldes - alters this result, by making gifts non-operative. However, for other realistic numerical examples, this is not the case.

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Year of publication:	1997-10-31
Authors:	Lagerlöf, Nils-Petter
Institutions:	Institute for International Economic Studies (IIES), Stockholms Universitet
Subject:	Dynamic efficiency \| Altruism \| Gifts \| Overlapping generations \| Saving

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Extent:	application/pdf
Series:	Seminar Papers.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series Seminar Papers Number 624 20 pages
Classification:	D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving ; H31 - Household
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005190722