A theory of economic growth : dynamics and policy in overlapping generations
Author(s)
Bibliographic Information
A theory of economic growth : dynamics and policy in overlapping generations
Cambridge University Press, 2002
- : hbk
- : pbk
Available at 87 libraries
  Aomori
  Iwate
  Miyagi
  Akita
  Yamagata
  Fukushima
  Ibaraki
  Tochigi
  Gunma
  Saitama
  Chiba
  Tokyo
  Kanagawa
  Niigata
  Toyama
  Ishikawa
  Fukui
  Yamanashi
  Nagano
  Gifu
  Shizuoka
  Aichi
  Mie
  Shiga
  Kyoto
  Osaka
  Hyogo
  Nara
  Wakayama
  Tottori
  Shimane
  Okayama
  Hiroshima
  Yamaguchi
  Tokushima
  Kagawa
  Ehime
  Kochi
  Fukuoka
  Saga
  Nagasaki
  Kumamoto
  Oita
  Miyazaki
  Kagoshima
  Okinawa
  Korea
  China
  Thailand
  United Kingdom
  Germany
  Switzerland
  France
  Belgium
  Netherlands
  Sweden
  Norway
  United States of America
Note
Includes bibliographical references (p. 355-367) and indexes
Description and Table of Contents
Description
Provides an in-depth treatment of the overlapping generations model in economics incorporating production. Chapter 1 investigates competitive equilibria and corresponding dynamics: existence and uniqueness of equilibrium, global dynamics of capital (including poverty traps), and various extensions of the model. Chapter 2 analyzes the optimality of allocations in this framework, using both the value function and marginal approaches. Optimality with unbounded growth is also analyzed. Policy issues including the Second Welfare Theorem, pensions, government spending, and optimal taxation, are discussed in chapter 3. The notion of public debt is introduced in chapter 4 and the sustainability of policies with budget deficits/surpluses is examined. The last chapter presents extensions of the model including altruism, education/human capital, and habit formation. Methodological emphasis is put on using general preferences and technologies, on the global study of dynamic aspects of the model, and on furnishing adequate tools to analyze policies involving inter-generational transfers.
Table of Contents
- Introduction
- Acknowledgements
- Part I. Competitive Equilibria: 1. The model
- 2. Main assumptions
- 3. The behavior of the agents at period t
- 4. The temporary equilibrium
- 5. The inter-temporal equilibrium with perfect foresight
- 6. Capital dynamics at a rational inter-temporal equilibrium
- 7. Comparison of myopic and perfect foresight
- 8. Applications and extensions
- 9. Conclusion
- Part II. Optimality: 10. Optimality of stationary paths
- 11. Optimality of the dynamics
- 12. The planning problem
- 13. Marginal analysis of optimal solutions
- 14. Unbounded optimal growth
- 15. Applications and extensions
- 16. Conclusion
- Part III. Policy: 17. Lump-sum transfers and the second welfare theorem
- 18. Pensions
- 19. Public spending
- 20. Study of the second-best problem
- 21. Applications and extensions
- 22. Conclusion
- Part IV. Debt: 23. Diamond's model with debt
- 24. The inter-temporal budget constraint of the government
- 25. Constant deficit policies
- 26. Constant debt policies
- 27. Applications and extensions
- 28. Conclusion
- Part V. Further Issues: 29. Dynastic altruism
- 30. Human capital and education
- 31. Inter-generational externalities
- 32. Macro-economics and general equilibrium
- Technical appendices
- List of definitions
- List of propositions
- List of assumptions
- Bibliography
- Author index
- Subject index.
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