Detail Altruism, lifetime uncertainty and intergenerational transfers Bibliografi Author: Nishiyama, Shinichi ; Rios-Rull, Jose-Victor (Advisor) Topik: ECONOMICS; THEORY|ECONOMICS; GENERAL|SOCIOLOGY; INDIVIDUAL AND FAMILY STUDIES Bahasa: (EN )    ISBN: 0-599-82176-0     Penerbit: University of Pennsylvania Press     Tahun Terbit: 2000     Jenis: Theses - Dissertation Fulltext: 9976461.pdf (0.0B; 6 download) Abstract Most macroeconomic analyses rely on either an infinite horizon model (in which people care about their descendants as much as they care about themselves) or an overlapping generations model (in which people don't care about their descendants at all). But if we are interested in fiscal policies that involve income redistribution between generations, to what extent households are altruistic is crucial to evaluate their policy implications. In this thesis, I construct a dynamic general equilibrium model that distinguishes intended transfers (mainly motivated by altruism) and accidental bequests (caused by lifetime uncertainty), and measure the degree of intergenerational altruism of households within a dynasty. I also show the policy implications of altruism and lifetime uncertainty. In Chapter 2, I develop a heterogeneous agent overlapping generations model in which a parent household and its child households in the same dynasty are imperfectly altruistic to each other. In this model, a parent and her adult children play a Cournot-Nash game to determine their optimal savings, working hours, consumption and financial gifts to each other. Also lifetime uncertainty and social security are considered in order to distinguish accidental bequests from altruistic bequests. In Chapter 3, I measure the degrees of intergenerational altruism in a four period setting. The degree of parental altruism toward her children and that of the opposite direction, as well as the parameter of time preference are determined simultaneously through the calibration of the model. The target variables chosen for the steady state economy are the capital-output ratio and the sizes of bequests and inter-vivos transfers as a percent of total private wealth. In Chapter 4, first, I analyze a debt financed lump-sum transfer policy to evaluate to what extent the Ricardian equivalence proposition holds. The results of the model is contrasted with those of other conventional models. Second, I extend the model by introducing a perfect annuity market, and evaluate the individual contributions of intended transfers and accidental bequests to wealth accumulation and inequality. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Lihat Sejarah Pengadaan  Konversi Metadata   Kembali

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