عنوان

On overlapping generations models with productive capital

3642481523

9783642481529

b568822

On overlapping generations models with productive capital

[Book]

Günther Lang.

Berlin ; New York

Springer

©1996.

(x, 98 pages) : illustrations

Lecture notes in economics and mathematical systems, 443.

Dynamic Efficiency in a Generalized Diamond-Type Overlapping Generations Model --; Asset Bubbles, Pay-as-you-go Systems and Dynamic Efficiency --; Just Resource Sharing Among Generations: Equity, Efficiency and Optimal Population --; Anticipation and the Time-Consistency of Fiscal Policy.

This book examines several unsolved problems in OLG models with productive capital. It extends the well-known Diamond analysis to a model with variable population growth and characterizes dynamically efficient allocations. Then the design of pay-as-you-go pension schemes and government debt to achieve a Pareto-improvement of inefficient growth paths are investigated. Departing from pure efficiency aspects, the book turns to questions of intergenerational fairness and optimal population growth. Finally, introducing a polito-economic model of transfers between generations, conflicting preferences between an infinite sequence of governments are solved for a Markov-perfect equilibrium, providing some important insights into mechanisms of growth and the nature of capital income taxation.

Capital -- Mathematical models.

Equilibrium (Economics) -- Mathematical models.

Macroeconomics -- Mathematical models.

Günther Lang.

Günther Lang

[Book]

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