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Toshihiro Ihori
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Toshihiro Ihori: University of Tokyo

Chapter 8 in Public Finance in an Overlapping Generations Economy, 1996, pp 176-197 from Palgrave Macmillan

Abstract: Abstract It has been assumed that consumption goods and investment goods are perfect substitutes as the outputs of production technology. In reality, however, a significant fraction of savings is invested in assets that has a very long life and are not easily substitutable with consumption.

Keywords: Capital Gain; Perfect Foresight; Overlap Generation Model; Money Holding; Government Budget Constraint (search for similar items in EconPapers)
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-38990-8_8

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DOI: 10.1057/9780230389908_8

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