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| Tekijä: | Zilcha, I. |
| Otsikko: | Intergenerational transfers, production and income distribution |
| Lehti: | Journal of Public Economics
2003 : MAR, VOL. 87:3-4, p. 489-514 |
| Asiasana: | PRODUCTION INCOME DISTRIBUTION ECONOMICS TRANSFER PAYMENTS |
| Kieli: | eng |
| Tiivistelmä: | The authors consider an overlapping-generations economy where the aggregative production process uses physical capital and human capital. Intergenerational transfers from parents to their children are motivated by 'altruism'. The authors distinguish between two types of transfers: Investment of parents in the education of their offspring, and capital transfer (the 'gift-bequest motive'). The authors show that the intensity of each type of altruism, and hence the composition of the two types of transfers, affect significantly the equilibrium output and the intragenerational income distributions. Comparing competitive equilibria, from the same initial distributions of capital transfers and human capital, the authors derive a number of conclusions. |
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