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|Title:||The transfer paradox in a one-sector overlapping generations model||Authors:||Cremers, E.T.
|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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