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Record Nr. |
UNINA9910822978503321 |
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Autore |
La Croix David de |
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Titolo |
A theory of economic growth : dynamics and policy in overlapping generations / / David de la Croix, Philippe Michel [[electronic resource]] |
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Pubbl/distr/stampa |
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Cambridge : , : Cambridge University Press, , 2002 |
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ISBN |
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1-107-13125-1 |
1-280-15492-6 |
0-511-11973-9 |
0-511-04178-0 |
0-511-14837-2 |
0-511-30264-9 |
0-511-60643-5 |
0-511-04419-4 |
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Descrizione fisica |
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1 online resource (xvii, 378 pages) : digital, PDF file(s) |
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Disciplina |
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Soggetti |
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Macroeconomics |
Economic development |
Economic policy |
Generational accounting |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Title from publisher's bibliographic system (viewed on 05 Oct 2015). |
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Nota di bibliografia |
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Includes bibliographical references (p. 355-367) and indexes. |
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Nota di contenuto |
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Cover; Half-title; Series-title; Title; Copyright; Dedication; Contents; Introduction; Acknowledgments; ONE Competitive Equilibria; TWO Optimality; THREE Policy; FOUR Debt; Five Further Issues; Technical Appendices; List of Definitions; List of Propositions; List of Assumptions; Bibliography; Author Index; Subject Index |
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Sommario/riassunto |
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Provides an in-depth treatment of the overlapping generations model in economics incorporating production. Chapter 1 investigates competitive equilibria and corresponding dynamics: existence and uniqueness of equilibrium, global dynamics of capital (including poverty traps), and various extensions of the model. Chapter 2 analyzes the optimality of allocations in this framework, using both the value function and marginal approaches. Optimality with unbounded |
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growth is also analyzed. Policy issues including the Second Welfare Theorem, pensions, government spending, and optimal taxation, are discussed in chapter 3. The notion of public debt is introduced in chapter 4 and the sustainability of policies with budget deficits/surpluses is examined. The last chapter presents extensions of the model including altruism, education/human capital, and habit formation. Methodological emphasis is put on using general preferences and technologies, on the global study of dynamic aspects of the model, and on furnishing adequate tools to analyze policies involving inter-generational transfers. |
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