Showing papers on "Golden Rule (fiscal policy) published in 1984"
Posted Content•
TL;DR: The transfer paradox may occur in a world with only two countries at a dynamically stable intertemporal competitive equilibrium as discussed by the authors, where a transfer of income may immiserize the recipient while enriching the donor.
Abstract: The transfer paradox may occur in a world with only two countries at a dynamically stable intertemporal competitive equilibrium. In a framework of overlapping generations with production and investment, a transfer of income may immiserize the recipient while enriching the donor. Away from the golden rule, a transfer may result in a Pareto improvement. (This abstract was borrowed from another version of this item.)
17 citations
5 citations