Titlebook: On Overlapping Generations Models with Productive Capital; Günther Lang Book 1996 Springer-Verlag Berlin Heidelberg 1996 efficiency.equili

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Anticipation and the Time-Consistency of Fiscal Policy,nerational allocations. Typical welfare functions which can be found in the literature stem from the pioneering work by Bentham and Sidgewick., being formalized by Ramsey (1928) for the framework of a growth model in his famous article ‘..’

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Book 1996Wilhelms-Universitiit Bonn and was approved as my doctoral thesis by the Rechts-und Staatswissenschaftliche Fakultiit in December 1994. It was my former colleague Wolfgang Peters who had drawn my atten­ tion to overlapping-generations models and to problems of intergenerational efficiency and distri

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Dynamic Efficiency in a Generalized Diamond-Type Overlapping Generations Model,ern equilibrium theory: for the traditional general equilibrium model, developed by Arrow and Debreu (1954) and some others, it was shown by Koopmans (1957) that a Walrasian equilibrium possesses the property of Pareto-optimality — and just this property was now questioned by Allais’ and Samuelson’s findings.

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Asset Bubbles, Pay-as-you-go Systems and Dynamic Efficiency,things are intrinsically worthless and have no positive market fundamentals, they have a positive price. And others which pay some dividend, for example if people are willing to spend money to view a beautiful painting, have a market price which exceeds the discounted value of their dividends.

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Just Resource Sharing Among Generations: Equity, Efficiency and Optimal Population,ises as to how a government should use these tools to arrive at a just distribution of resources between individuals within and across generations. It is just this latter problem of intergenerational just resource sharing which will be the concern of this chapter.

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