Capital Mobility in a Dynastic Framework

J.-P. Vidal

Cambridge Working Papers in Economics from Faculty of Economics, University of Cambridge

Abstract: This paper studies the pattern of capital mobility with a two-country dynastic model in which each country is exogenously characterised by its degree of altruism towards 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.

Date: 1997-08
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Persistent link: https://EconPapers.repec.org/RePEc:cam:camdae:9718

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