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On Overlapping Generations Models with Productive Capital

  • Book
  • © 1996

Overview

Authors:
  1. Günther Lang

    1. Faculty of Economics, University Nova of Lisbon, Lisbon, Portugal

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Part of the book series: Lecture Notes in Economics and Mathematical Systems (LNE, volume 443)

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Table of contents (5 chapters)

  1. Front Matter

    Pages i-x
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  2. Introduction

    • Günther Lang
    Pages 1-5

  3. Dynamic Efficiency in a Generalized Diamond-Type Overlapping Generations Model

    • Günther Lang
    Pages 7-26

  4. Asset Bubbles, Pay-as-you-go Systems and Dynamic Efficiency

    • Günther Lang
    Pages 27-41

  5. Just Resource Sharing Among Generations: Equity, Efficiency and Optimal Population

    • Günther Lang
    Pages 43-59

  6. Anticipation and the Time-Consistency of Fiscal Policy

    • Günther Lang
    Pages 61-94

  7. Back Matter

    Pages 95-102
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Keywords

About this book

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.

Authors and Affiliations

  • Faculty of Economics, University Nova of Lisbon, Lisbon, Portugal

    Günther Lang

Bibliographic Information

  • Book Title: On Overlapping Generations Models with Productive Capital

  • Authors: Günther Lang

  • Series Title: Lecture Notes in Economics and Mathematical Systems

  • DOI: https://doi.org/10.1007/978-3-642-48152-9

  • Publisher: Springer Berlin, Heidelberg

  • eBook Packages: Springer Book Archive

  • Copyright Information: Springer-Verlag Berlin Heidelberg 1996

  • Softcover ISBN: 978-3-540-61603-0Published: 02 October 1996

  • eBook ISBN: 978-3-642-48152-9Published: 06 December 2012

  • Series ISSN: 0075-8442

  • Series E-ISSN: 2196-9957

  • Edition Number: 1

  • Number of Pages: X, 98

  • Topics: Economics, general

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