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A theory of economic growth : = dynamics and policy in overlapping generations /

Record Type:	Language materials, printed : Monograph/item
Title/Author:	A theory of economic growth :/ David de la Croix, Philippe Michel.
Reminder of title:	dynamics and policy in overlapping generations /
Author:	La Croix, David de,
other author:	Michel, Philippe,
Description:	1 online resource (xvii, 378 pages) :digital, PDF file(s). :
Notes:	Title from publisher's bibliographic system (viewed on 05 Oct 2015).
Subject:	Macroeconomics. -
Online resource:	https://doi.org/10.1017/CBO9780511606434
ISBN:	9780511606434 (ebook)

A theory of economic growth : = dynamics and policy in overlapping generations /
La Croix, David de,

A theory of economic growth :dynamics and policy in overlapping generations /David de la Croix, Philippe Michel. - 1 online resource (xvii, 378 pages) :digital, PDF file(s).

Title from publisher's bibliographic system (viewed on 05 Oct 2015).

Provides an in-depth treatment of the overlapping generations model in economics incorporating production. Chapter 1 investigates competitive equilibria and corresponding dynamics: existence and uniqueness of equilibrium, global dynamics of capital (including poverty traps), and various extensions of the model. Chapter 2 analyzes the optimality of allocations in this framework, using both the value function and marginal approaches. Optimality with unbounded growth is also analyzed. Policy issues including the Second Welfare Theorem, pensions, government spending, and optimal taxation, are discussed in chapter 3. The notion of public debt is introduced in chapter 4 and the sustainability of policies with budget deficits/surpluses is examined. The last chapter presents extensions of the model including altruism, education/human capital, and habit formation. Methodological emphasis is put on using general preferences and technologies, on the global study of dynamic aspects of the model, and on furnishing adequate tools to analyze policies involving inter-generational transfers.

ISBN: 9780511606434 (ebook)Subjects--Topical Terms:

554837
Macroeconomics.

LC Class. No.: HB172.5 / .L32 2002

Dewey Class. No.: 339

A theory of economic growth : = dynamics and policy in overlapping generations /
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500 $a Title from publisher's bibliographic system (viewed on 05 Oct 2015).
520 $a Provides an in-depth treatment of the overlapping generations model in economics incorporating production. Chapter 1 investigates competitive equilibria and corresponding dynamics: existence and uniqueness of equilibrium, global dynamics of capital (including poverty traps), and various extensions of the model. Chapter 2 analyzes the optimality of allocations in this framework, using both the value function and marginal approaches. Optimality with unbounded growth is also analyzed. Policy issues including the Second Welfare Theorem, pensions, government spending, and optimal taxation, are discussed in chapter 3. The notion of public debt is introduced in chapter 4 and the sustainability of policies with budget deficits/surpluses is examined. The last chapter presents extensions of the model including altruism, education/human capital, and habit formation. Methodological emphasis is put on using general preferences and technologies, on the global study of dynamic aspects of the model, and on furnishing adequate tools to analyze policies involving inter-generational transfers.
650 0 $a Macroeconomics. $3 554837
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