This paper surveys intergenerational altruism in neoclassical growth models. It first examines Barro's approach to intergenerational altruism, whereby successive generations are linked by recursive altruistic preferences. Individuals have an altruistic concern only for their children, who in...

We reconsider the well-established paradigm of a rational individual's choice of a consumption schedule, building on the idea that human beings devote resources to withstand their desire for immediate consumption, i.e. to become more patient, thereby making less remote the pleasure derived from...

Das Institut für Weltwirtschaft an der Universität Kiel (IfW) ist eines der großen Zentren weltwirtschaftlicher Forschung, wirtschaftspolitischer Beratung, ökonomischer Ausbildung und wirtschaftswissenschaftlicher Dokumentation. Das Institut sieht seine Hauptaufgabe in der Erforschung...

The CEPII is France's leading institute for research on the international economy. The Centre's independence is guaranteed by its Board, which sets out the strategic guidelines for the CEPII's research. The Board comprises government officials, business personalities, trade unionists and...

In this paper we investigate the comparative properties of empirically-estimated monetary models of the U.S. economy. We make use of a new database of models designed for such investigations. We focus on three representative models: the Christiano, Eichenbaum, Evans (2005) model, the Smets and...