Bequests and the Intergenerational Degree of Altruism

Emmanuel Thibault

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

Abstract: This paper shows that Barro's (1974) debt neutrliaty theorem does not hold in OLG economies whenever the marginal rate of substitution between both periods' consumptions evaluated at the modified golden rule capital stock is lower that the degree of intergenerational altruism. It could be deduced from this result that an increase in the degree of altruism induces an increase in bequests.

Keywords: MATHEMATICAL ANALYSIS; INHERITANCE; GENERATIONS (search for similar items in EconPapers)
JEL-codes: C62 D91 O41 (search for similar items in EconPapers)
Pages: 9 pages
Date: 1999
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Citations: View citations in EconPapers (3)

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Working Paper: Bequests and the Intergenerational Degree of Altruism (2001)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:aixmeq:99a43

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