Time Preference and Factor Mobility in an OLG Model with Land

B Crettez, P Michell and Vidal, J-P

ASSET - Instituto De Economia Publica from ASSET (Association of Southern European Economic Theorists)

Abstract: This paper examines the pattern of capital mobility in a two-country overlapping generations world in which production uses three inputs capital, labor and land. The steady-state welfare consequences of opening countries to financial capital or labor mobility are then compared. In particular, it is shown that capital mobility does not equalize standards of living across countries. To achieve this goal, one has to rely on labor mobility.

Keywords: LABOUR MARKET; LABOUR MOBILITY; LAND; CAPITAL MOVEMENTS (search for similar items in EconPapers)
JEL-codes: J61 (search for similar items in EconPapers)
Date: 1997

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