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cross-dynastic intergenerational altruism, saving for one’s descendants benefits present members of other dynasties. These …
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-dynastic intergenerational altruism, savings for one's own descendants benefit present members of other dynasties, giving rise to preference …-dynastic intergenerational altruism. I also show that the external effect of present saving decreases over time. This means that intertemporal … preferences inferred from saving behavior are time-inconsistent, unless cross-dynastic intergenerational altruism is accounted for. …
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In this paper we show that we can replace the assumption of constant discount rate in the onesector optimal growth model with the assumption of decreasing marginal impatience without losing major properties of the model. In particular, we show that the steady state exists, is unique, and has a...
Persistent link: https://www.econbiz.de/10002523969
In this paper we show that we can replace the assumption of constant discount rate in the one-sector optimal growth model with the assumption of decreasing marginal impatience without losing major properties of the model. In particular, we show that the steady state exists, is unique, and has a...
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