Pareto-improving intergenerational transfers

Berthold Wigger ()

CSEF Working Papers from Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy

Abstract: In the presence of endogenous growth intergenerational transfer from the young to the old reduce per capita income growth and harm future generations. On the other hand, competitive equilibria are inefficient if externalities sustain long-run growth. This paper shows that if individuals retire in the last period of their life, the inefficiency of the market economy can be removed by an investment subsidy without making the current or future generations worse off only if coupled with intergenerational transfers from the young to the old.

Keywords: Intergenerational transfers; Externalities; Endogenous growth (search for similar items in EconPapers)
JEL-codes: D61 H23 O41 (search for similar items in EconPapers)
Date: 2000-03-01
New Economics Papers: this item is included in nep-pbe and nep-pub
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Published in Oxford Economic Papers, 2001, vol. 53, pages 260-80

Downloads: (external link)
http://www.csef.it/WP/wp37.pdf (application/pdf)

Related works:
Journal Article: Pareto-Improving Intergenerational Transfers (2001)
Working Paper: Pareto-Improving Intergenerational Transfers (2000)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sef:csefwp:37

Access Statistics for this paper

More papers in CSEF Working Papers from Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy Contact information at EDIRC.
Bibliographic data for series maintained by Dr. Maria Carannante ().