Immiserizing Growth in Diamond's Overlapping Generations Model : A Geometrical Exposition  

Oleh:

Matsuyama, Kiminori

Jenis: Article from Bulletin/Magazine
Dalam koleksi: INTERNATIONAL ECONOMIC REVIEW vol. 32 no. 1 (1991), page 251-262.
Topik: EXPOSITION; immisering growth; diamond; overlapping generations; geometrical exposition

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: II49 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

The welfare analysis of Diamond's overlapping generations model is often restricted to a steady - state comparison. This paper demonstrates that a simple diagrammatic technique is useful for a Pareto welfare analysis. In particular, it shows that capital saving technological progress could make all generations (including those which live during the transition period) worse off whenever the economy is dynamic inefficient. On the other hand, technological progress always makes some generations better off when the economy is dynamic efficient.

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