In this paper debt policy in a two-period, two-sector overlapping generations model with Leontief technologies has been analysed. It has been found that debt, issued to transfer resources to the initially old, could be welfare improving in the new steady state for an economy which satisfies the...

This paper explores the steady state welfare implications of permanent transfers in a two-country, two-sector overlapping generations model. At the golden rule and with Walrasian stability, we demonstrate that the change in the (static) terms of trade always works in favor of a transfer paradox....

This paper estimates the impact of climate change on food grain yields in India, namely rice and millets. We estimate a crop-specific agricultural production function with exogenous climate variables, namely, precipitation and temperature and control for key inputs such as irrigation, fertilizer...

This paper examines the effects of international income transfers on welfare and capital accumulation in a one-sector overlapping generations model. It is shown that a strong form of the transfer paradox-- in which the donor country experiences a welfare gain while the recipient country...

This paper reviews (critically and selectively) the literature on the link between economic development, the environment and international trade (and capital flows). In particular, how stricter environmental regulation in the North affects trade and capital movements between the North and the...