Theory of Economic Growth : Dynamics and Policy in Overlapping Generations

by de la Croix, David

• ISBN13: 9780511028915
• ISBN10: 0511028911
• Format: Nonspecific Binding
• Copyright: 2002-10-24
• Publisher: Cambridge University Press

Summary

This book provides an in-depth treatment of the overlapping generations model in economics incorporating production.

Table of Contents

Introduction

Acknowledgements

Competitive Equilibria

The model

Main assumptions

The behavior of the agents at period t

The temporary equilibrium

The inter-temporal equilibrium with perfect foresight

Capital dynamics at a rational inter-temporal equilibrium

Comparison of myopic and perfect foresight

Applications and extensions

Conclusion

Optimality

Optimality of stationary paths

Optimality of the dynamics

The planning problem

Marginal analysis of optimal solutions

Unbounded optimal growth

Applications and extensions

Conclusion

Policy

Lump-sum transfers and the second welfare theorem

Pensions

Public spending

Study of the second-best problem

Applications and extensions

Conclusion

Debt

Diamond's model with debt

The inter-temporal budget constraint of the government

Constant deficit policies

Constant debt policies

Applications and extensions

Conclusion

Further Issues

Dynastic altruism

Human capital and education

Inter-generational externalities

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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