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| Author: | Davidson, C. Martin, L. Matusz, S. |
| Title: | Jobs and chocolate: Samuelsonian surpluses in dynamic models of unemployment |
| Journal: | Review of Economic Studies
1994 : JAN, VOL. 61(1):206, p. 173-192 |
| Index terms: | UNEMPLOYMENT DYNAMIC MODELS CONSUMPTION |
| Language: | eng |
| Abstract: | In dynamic models of unemployment in which the employed consume more than the unemployed, workers are finitely lived, and job are lasting, employment transfers consumption from future generations to those currently alive, resulting in a social surplus. That is, these transfers allow the current generation to consume more than its share of the output produced during its lifetime, without the increased consumption coming at the expense of future generations. |
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