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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 | Citation: | 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 |
| Appears in Collections: | Staff Publications |
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