Investment efficiency and intergenerational income distribution: a paradoxical result

Ryo Horii, Koichi Futagami and Akiomi Kitagawa ()

Economics Bulletin, 2004, vol. 15, issue 2, 1-6

Abstract: Using a simple overlapping generations model, this note shows that an improvement in the efficiency of human capital investment decreases the net income of the young household while increasing that of the old. Without compensating redistribution, it deteriorates lifetime utilities of all generations except for the initial old households.

Keywords: human; capital (search for similar items in EconPapers)
JEL-codes: O4 (search for similar items in EconPapers)
Date: 2004-11-11
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