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Book Overlapping Generations

Download or read book Overlapping Generations written by Stephen E. Spear and published by Emerald Group Publishing. This book was released on 2023-09-04 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 800 pound gorilla in the room of macroeconomics is the question of why the overlapping generations model didn’t become the central workhorse model for macroeconomics, as opposed to the neoclassical growth model. The authors here explore the co-evolution of the two models.

Book Global Analysis of an Overlapping Generations Economy with Land

Download or read book Global Analysis of an Overlapping Generations Economy with Land written by Andrew Mountford and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the global dynamics of a convex overlapping generations model with land. It derives a competitive equilibrium such that for every given initial level of capital per capita, the economy has a unique perfect-foresight equilibrium. It shows that the existence and uniqueness of this perfect-foresight equilibrium is robust to the presence of multiple steady-state levels of capital per capita. Furthermore, it shows that this model can provide an interesting insight into the economics of land taxation. Specifically, it shows that changes in the rate of land taxation may cause a bifurcation in the model s dynamical system and so may allow an economy with a low initial capital stock to break out of a poverty trap steady-state equilibrium.

Book On the Existence of Optimal Competitive Equilibria in the Overlapping generations Model

Download or read book On the Existence of Optimal Competitive Equilibria in the Overlapping generations Model written by Teodoro Millan and published by . This book was released on 1981 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Existence of Equilibrium in the Overlapping Generations Model the Nontransitive Case

Download or read book Existence of Equilibrium in the Overlapping Generations Model the Nontransitive Case written by Imed Cherif and published by . This book was released on 1992 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Mathematical Topics in Economic Theory and Computation

Download or read book Mathematical Topics in Economic Theory and Computation written by Richard Hollis Day and published by Siam. This book was released on 1972 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book On Overlapping Generations Models with Productive Capital

Download or read book On Overlapping Generations Models with Productive Capital written by Günther Lang and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book was born out of a five-years research at Sonderforschungsbe reich 303 by the Deutsche Forschungsgemeinschaft (DFG) at Rheinische Friedrich-Wilhelms-Universitiit Bonn and was approved as my doctoral thesis by the Rechts-und Staatswissenschaftliche Fakultiit in December 1994. It was my former colleague Wolfgang Peters who had drawn my atten tion to overlapping-generations models and to problems of intergenerational efficiency and distribution. The subtle connection between the latter two has been fascinating me from the very beginning: redistribution of the results of free trade can become necessary from the point of view of efficiency, although no externalities hamper the development of an economy. In spite of being a matured part of economics, neoclassical growth theory had left many questions unsolved, some of them even unrecognized by a large part of our profession. I took up the challenge to contribute to the investigation of some of these thorny problems. One of these issues is the often quoted idea of the inter generational con tract. Although intergenerational transfers can improve intertemporal effi ciency, the design of pension schemes to achieve an improvement of well-being of some generations without hurting that of any other, is not an easy task in an economy with flexible prices. Quite frequently, only interest rate and growth rate are taken into account when deciding on whether a generation wins or looses.

Book Nonlinear Dynamics in Equilibrium Models

Download or read book Nonlinear Dynamics in Equilibrium Models written by John Stachurski and published by Springer Science & Business Media. This book was released on 2012-01-25 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: Optimal growth theory studies the problem of efficient resource allocation over time, a fundamental concern of economic research. Since the 1970s, the techniques of nonlinear dynamical systems have become a vital tool in optimal growth theory, illuminating dynamics and demonstrating the possibility of endogenous economic fluctuations. Kazuo Nishimura's seminal contributions on business cycles, chaotic equilibria and indeterminacy have been central to this development, transforming our understanding of economic growth, cycles, and the relationship between them. The subjects of Kazuo's analysis remain of fundamental importance to modern economic theory. This book collects his major contributions in a single volume. Kazuo Nishimura has been recognized for his contributions to economic theory on many occasions, being elected fellow of the Econometric Society and serving as an editor of several major journals. Chapter “Introduction” is available open access under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License via link.springer.com.

Book A Theory of Economic Growth

Download or read book A Theory of Economic Growth written by David de la Croix and published by Cambridge University Press. This book was released on 2002-10-24 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an in-depth treatment of the overlapping generations model in economics incorporating production.

Book Steady state growth in a continuously overlapping generations model

Download or read book Steady state growth in a continuously overlapping generations model written by Wolfgang Peters and published by . This book was released on 1985 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Dynamic Inefficiency in an Overlapping Generations Economy with Production

Download or read book Dynamic Inefficiency in an Overlapping Generations Economy with Production written by Guido Cazzavillan and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reichlin (JET, 1986) has shown in an OLG model with productive capital that whenever the steady state is locally indeterminate and undergoes a Hopf bifurcation, it is Pareto-optimal. While these results were established under the assumption of Leontief technology, the author has partially extended them to show that the Hopf bifurcation is robust with respect to the introduction of capitallabor substitution. In this note, we prove that the Pareto-optimality of the steady state does not extend to technologies with capital-labor substitution. When the steady state is a sink or undergoes a Hopf bifurcation, it is characterized by over-accumulation with respect to the Golden Rule - the interest rate is negative - hence not Pareto-optimal. Most importantly, it follows that stabilization policies targeting the steady state leave room for welfare losses associated with productive inefficiency, apart from the very special case of Leontief technology.

Book The Structure of Applied General Equilibrium Models

Download or read book The Structure of Applied General Equilibrium Models written by Victor Ginsburgh and published by MIT Press. This book was released on 2002 with total page 580 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bridges the gap between applied and theoretical general equilibrium models.

Book Handbook of Computable General Equilibrium Modeling

Download or read book Handbook of Computable General Equilibrium Modeling written by Peter B. Dixon and published by Newnes. This book was released on 2013-11-14 with total page 1143 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this collection of 17 articles, top scholars synthesize and analyze scholarship on this widely used tool of policy analysis, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top US graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view. Presents coherent summaries of CGE theories that inform major model types Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results Shows how CGE modeling has made a contribution to economic policy

Book The Gender Gap Fertility and Growth

Download or read book The Gender Gap Fertility and Growth written by Oded Galor and published by . This book was released on 1993 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines a novel mechanism linking fertility and growth. Household fertility is determined by relative wages of women and men. Increasing women's wages reduces fertility by raising the cost of children relatively more than household income. Lower fertility raises the level of capital per worker which in turn, since capital is more complementary to women's labor input than men's, raises women's relative wages. This positive feedback leads to the possibility of multiple steady-state equilibria. Countries with low initial capital may converge to a development trap with high fertility, low capital, and low relative wages for women.