Capital Mobility in a Dynastic Framework

Jean-Pierre Vidal

Oxford Economic Papers, 2000, vol. 52, issue 3, 606-25

Abstract: This paper studies the pattern of capital mobility within a two-country dynastic model in which each country is exogenously characterized by its degree of altruism toward children. The steady-state welfare implications of restricted as well as unrestricted capital mobility are established. It is shown that world integration increases the steady-state welfare of the more altruistic capital exporting country and can either increase or reduce the steady-state welfare of the less altruistic capital importing country. Copyright 2000 by Oxford University Press.

Date: 2000
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