Please use this identifier to cite or link to this item: https://doi.org/10.1016/j.jedc.2007.06.017
Title: The transfer paradox in a one-sector overlapping generations model
Authors: Cremers, E.T. 
Sen, P.
Keywords: Overlapping generations
Transfer paradox
Issue Date: 2008
Source: Cremers, E.T., Sen, P. (2008). The transfer paradox in a one-sector overlapping generations model. Journal of Economic Dynamics and Control 32 (6) : 1995-2012. ScholarBank@NUS Repository. https://doi.org/10.1016/j.jedc.2007.06.017
Abstract: This paper examines the effects of international income transfers on capital accumulation and welfare in a one-sector overlapping generations model. It is shown that a strong form of the transfer paradox - in which the donor country experiences a welfare gain while the recipient country experiences a welfare loss - may occur both in and out of steady state. In addition, it is shown that a weak form of the transfer paradox - where either the donor or recipient (but not both) experiences a paradoxical welfare effect - may characterize all segments of the transition path not already characterized by the strong transfer paradox. © 2007 Elsevier B.V. All rights reserved.
Source Title: Journal of Economic Dynamics and Control
URI: http://scholarbank.nus.edu.sg/handle/10635/22386
ISSN: 01651889
DOI: 10.1016/j.jedc.2007.06.017
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