scholarly journals The Effects of Annuities, Bequests, and Aging in an Overlapping Generations Model of Endogenous Growth

1995 ◽  
Author(s):  
Rowena A. Pecchenino ◽  
Patricia S. Pollard
Keyword(s):  
Endogenous Growth ◽  
Overlapping Generations ◽  
Overlapping Generations Model

scholarly journals Production Lags And Growth Dynamics In An Overlapping Generations Endogenous Growth Model

2011 ◽  
Vol 27 (2) ◽  
Author(s):  
Rangan Gupta
Keyword(s):  
Growth Rate ◽  
Steady State ◽  
Endogenous Growth ◽  
Overlapping Generations ◽  
Growth Process ◽  
Growth Dynamics ◽  
Marginal Product ◽  
Initial Value ◽  
Overlapping Generations Model ◽  
Endogenous Growth Model

<span>This paper analyzes growth dynamics in an endogenous growth overlapping generations model characterized by production lags in the firm-specific and average economy-wide capital inputs, with the growth process being endogenized by allowing for a production externality. We show that endogenous convergent fluctuations emerge, with the convergence being faster for higher values of the marginal product of labor, given the initial value of the gross growth rate - a result, otherwise impossible, if the production is a function of contemporaneous capital stock. Finally, when production is a function of lagged labor, as well as lagged capital inputs, steady-state is infeasible.</span>

scholarly journals INCOME INEQUALITY, MOBILITY, AND THE WELFARE STATE: A POLITICAL ECONOMY MODEL

2012 ◽  
Vol 17 (6) ◽  
pp. 1198-1226 ◽  
Author(s):  
Luca Bossi ◽  
Gulcin Gumus
Keyword(s):  
Income Inequality ◽  
Welfare State ◽  
Social Insurance ◽  
Overlapping Generations ◽  
Tax Rates ◽  
Overlapping Generations Model ◽  
Public Programs ◽  
Transfer Payments ◽  
Set Up ◽  
The Welfare State

In this paper, we set up a three-period stochastic overlapping-generations model to analyze the implications of income inequality and mobility for demand for redistribution and social insurance. We model the size of two different public programs under the welfare state. We investigate bidimensional voting on the tax rates that determine the allocation of government revenues among transfer payments and old-age pensions. We show that the coalitions formed, the resulting political equilibria, and the demand for redistribution crucially depend on the level of income inequality and mobility.

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