Time Preference and Factor Mobility in an OLG Model with Land

B. Crettez, Philippe Michel and J.P. Vidal

G.R.E.Q.A.M. from Universite Aix-Marseille III

Abstract: This paper examines the pattern of capital mobility in a two-country overlapping generations world in which production uses three inputs capital, labor and land. The steady-state welfare consequences of opening countries to financial capital or labor mobility are then compared. In particular, it is shown that capital mobility does not equalize standards of living across countries. To achieve this goal, one has to rely on labor mobility.

Keywords: CAPITAL; LAND; FINANCIAL MARKET; INTERNATIONAL FINANCE (search for similar items in EconPapers)
JEL-codes: D24 F10 F20 F21 (search for similar items in EconPapers)
Pages: 15 pages
Date: 1996
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:fth:aixmeq:96a02

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