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This paper shows that Barro's (1974) debt neutrliaty theorem does not hold in OLG economies whenever the marginal rate of substitution between both periods' consumptions evaluated at the modified golden rule capital stock is lower that the degree of intergenerational altruism. It could be...
Persistent link: https://www.econbiz.de/10005634356
This paper on the class of models studiyng the interaction between an altruistic benefactor and a selfish recipient. Bequest is the only transfer from an altruistic parent to his selfish son and we assume that it is not a valid collateral for bank loans. This is equivalent to addding a...
Persistent link: https://www.econbiz.de/10005669490
We examine the evolution of the distributions of wealth and income in a Ramsey model in which agents differ in their … consumption and leisure implies that the macroeconomic equilibrium is independent of the distribution of wealth and allows us to … fully characterize income and wealth dynamics. We find non-degenerate longrun distributions of wealth and income. The model …
Persistent link: https://www.econbiz.de/10005292379
Persistent link: https://www.econbiz.de/10005292391
Persistent link: https://www.econbiz.de/10005479022
tax, saving income tax and inheritance tax on labour supply and welfare distributions and on macroeconomic variables. …
Persistent link: https://www.econbiz.de/10005779632
In the static and sequntial economies, where the available assets are "Arrow securities" the inflation is without effect of the equilibrium allocations, when the initial endowments of securities are zero. The indeterminacy is only nominal. The same equilibrium allocations can be obtained with...
Persistent link: https://www.econbiz.de/10005634402
Nous etudions dans un modele a generations avec altruisme imparfait la distribution de la richesse de long terme ainsi que les inegalites sociales qu'elle engendre. Puis nous introduisons successivement dans le modele deux types de politique fiscale redistributive: une taxation des heritages et...
Persistent link: https://www.econbiz.de/10005479074