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A Stochastic Overlapping Generations Economy with Inheritance

Karatzas, I.; Shubik, M.; Sudderth, W. - Santa Fe Institute - 2000

-span. As the model is designed to be a fully playable game, conditions concerning birth, death, inheritance and bequests are …

Persistent link: https://www.econbiz.de/10005260368

Monetary policy and redistribution: What can or cannot be neutralized with Mirrleesian taxes

Gahvari, Firouz; Micheletto, Luca - Nationalekonomiska Institutionen, Uppsala Universitet - 2012

This paper develops an overlapping-generations model with heterogeneous agents in terms of earning ability and cash-in-advance constraint. It shows that tax pol- icy cannot fully replicate or neutralize the redistributive implications of monetary policy. While who gets the extra money becomes...

Persistent link: https://www.econbiz.de/10009651892

Social Security and Redistribution Within Generations in an Overlapping-Generations Model

Lorz, Oliver - Institut für Weltwirtschaft (IfW) - 1999

democracy with asymmetric information. The model considers not only redistribution between generations but also redistribution …, consumption levels are perfectly equalized within both generations. Second, a redistribution bias exists in favor of the old …

Persistent link: https://www.econbiz.de/10005818784

The Political Economy of Intra- and Intergenerational Redistribution with Asymmetric Information

Lorz, Oliver - Institut für Weltwirtschaft (IfW) - 1999

In this paper redistribution policy is analyzed in a 2-period overlapping generations model with heterogeneous …

Persistent link: https://www.econbiz.de/10005818844

Intergenerational Redistribution with Asymmetric Information: the Case of Non-Observable Savings

Lorz, Oliver - Institut für Weltwirtschaft (IfW) - 1999

This paper analyzes intergenerational redistribution in a 2-period overlapping-generations model of a representative … democracy. The model incorporates redistribution between generations and redistribution within generations, allowing for … political economy equilibrium is not Pareto-efficient. Redistribution results in equal consumption levels of individuals with …

Persistent link: https://www.econbiz.de/10005700602

Inequality, mobility and redistributive politics

Arawatari, Ryo; Ono, Tetsuo - In: Journal of Economic Theory 148 (2013) 1, pp. 353-375

This paper develops a model where income inequality and intergenerational mobility are jointly determined via redistributive politics. The model includes two key factors: accessibility of tertiary education for poor-born agents and multiple self-fulfilling expectations of agents. Given these...

Persistent link: https://www.econbiz.de/10010616899

Inequality, Mobility and Redistributive Politics

Arawatari, Ryo; Ono, Tetsuo - Graduate School of Economics, Osaka University - 2009

This paper develops a model where income inequality and intergenerational mobility are jointly determined via redistributive politics. The model includes two key factors: accessibility of tertiary education for poor-born agents and multiple, selffulfilling expectations of agents. Given these...

Persistent link: https://www.econbiz.de/10008623450