The Transfer Paradox In a Two-Sector Overlapping Generatoins Model: The Duality Approach

Tsuyoshi Shinozaki ()
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Tsuyoshi Shinozaki: Nagoya University

Economics Bulletin, 2007, vol. 6, issue 10, 1-9

Abstract: In this paper, we apply the duality approach, which is generally used in a static framework, to a two-sector overlapping generations model. Applying the duality approach enables one to determine clearly the welfare effects of a transfer and to explain how the transfer paradox might occur. Especially, we showed that whether the transfer paradox occurs depends on two effects: the dynamic terms-of-trade effect and the capital accumulation effect.

JEL-codes: F0 F4 (search for similar items in EconPapers)
Date: 2007-03-26
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