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Transfers within a three generations family: when the rotten kids turn into altruistic parents

Cremer, Helmuth; Roeder, Kerstin - Volkswirtschaftliche Fakultät, … - 2014

We study exchanges between three overlapping generations with non-dynastic altruism. The middleaged choose informal care provided to their parents and education expenditures for their children. The young enjoy their education, while the old may leave a bequest to their children. Within each...

Persistent link: https://www.econbiz.de/10011210872

Conspicuous Consumption and Overlapping Generations

Wendner, Ronald - Volkswirtschaftliche Fakultät, … - 2009

productivity declines with age. For a (strongly enough) declining labor productivity (or when people gradually retire), the … constant labor productivity. The market economy can be decentralized by a (reverse) unfunded social security system if the rate … of labor productivity decline is high (low). In contrast to previous results, the \emph{optimal} steady state capital …

Persistent link: https://www.econbiz.de/10005025694

Timing of childbirth, capital accumulation, and economic welfare

Momota, Akira; Horii, Ryo - Volkswirtschaftliche Fakultät, … - 2011

This paper examines the effect of the timing of childbirth on capital accumulation and welfare in a simple overlapping generations model, where each agent lives for four periods and works for two periods. We show that delayed childbearing not only reduces population, but also generates...

Persistent link: https://www.econbiz.de/10009325570

Reconstructing the Quantity Theory (I)

Kakarot-Handtke, Egmont - Volkswirtschaftliche Fakultät, … - 2011

The quantity theory is disjunct to the hard core of general equilibrium theory. It does not relate to the formal foundations of standard economics and, vice versa, from the behavioral axioms of standard economics a rationale for using money cannot be derived. The present paper leaves the...

Persistent link: https://www.econbiz.de/10009203609

A Single-Mindedness model with n generations

Emanuele, Canegrati - Volkswirtschaftliche Fakultät, … - 2007

In this paper I will analyse the redistribution of income amongst n generations using the Single-mindedness Theory. I will introduce a new expression for the balanced-budget constraint, no longer based on lump- sum transfers as in the traditional literature, but rather on more realistic labour...

Persistent link: https://www.econbiz.de/10005835397

Money, Tobin Effect, and Incerasing Returns

Basci, Erdem; Erdogan, Ayse M.; Saglam, Ismail - Volkswirtschaftliche Fakultät, … - 2006

This paper shows that unregulated decentralized equilibrium is viable under increasing returns technologies in an overlapping generations model of production with cash-in-advance constraints. We also demonstrate that the model exhibits both the Tobin effect and the reverse Tobin effect.

Persistent link: https://www.econbiz.de/10005836089

Agrarian Structure and Endogenous Financial System Development

Vollrath, Dietrich - Volkswirtschaftliche Fakultät, … - 2008

The development of the financial system is shown, both historically and in contemporary data, to be adversely affected by inequality in the distribution of land. To accommodate these empirical findings, a theory is developed that highlights the incentives of landowners to oppose competition in...

Persistent link: https://www.econbiz.de/10005836624

PAYG pensions, tax-cum-subsidy and optimality

Fanti, Luciano; Gori, Luca - Volkswirtschaftliche Fakultät, … - 2010

Using a simple OLG small open economy with endogenous fertility we show that the command optimum can be decentralised in a market setting using both a PAYG transfer from the young (old) to the old (young) and a tax-cum-subsidy (subsidy-cum-tax) policy, to redistribute within the working age...

Persistent link: https://www.econbiz.de/10008545983

Factor income taxation and growth with increasing integration of world capital markets

Ho, Wai Hong; Yang, C. C. - Volkswirtschaftliche Fakultät, … - 2010

In a closed economy, the infinite-horizon and the overlapping generations (OG) model prescribe diametrically opposite policies on factor taxation: the former argues that the growth-maximizing capital income tax rate should be set to zero, whereas the latter argues that it should be set as high...

Persistent link: https://www.econbiz.de/10008490510

Consumption Externalities and Capital Accumulation in an Overlapping Generations Economy

Mino, Kazuo - Volkswirtschaftliche Fakultät, … - 2006

This paper extends the standard overlapping generations model of capital accumulation by introducing consumption externalities. It is assumed that each generation's felicity depends on the social level of benchmark consumption as well as on its own consumption. Since the benchmark consumption is...

Persistent link: https://www.econbiz.de/10005105925

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