A Theory of Economic Growth. Dynamics and Policy in Overlapping Generations.

ISBN: 978-0-521-00115-1
Materia: Análisis económico
Autor: Croix, D. de la
Editorial: Cambridge University Press
Edición: 2002
Páginas: 378
PVP: 39,95 €

Reseña:
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.

Índice:
1. Competitive equilibria: 1.1 The model; 1.2 Main assumptions; 1.3 The behavior of the agents; 1.4 The temporary equilibrium; 1.5 The inter-temporal equilibrium; 1.6 Capital dynamics; 1.7 Comparison of myopic and perfect foresight; 1.8 Applications and extensions; 1.9 Conclusion; 2. Optimality: 2.1 Optimality of stationary paths; 2.2 Optimality of the dynamics; 2.3 The planning problem; 2.4 Marginal analysis of optimal solutions; 2.5 Unbounded optimal growth; 2.6 Applications and extensions; 2.7 Conclusion; 3. Policy: 3.1 The second welfare theorem; 3.2 Pensions; 3.3 Public spending; 3.4 Study of the second-best problem; 3.5 Applications and extensions; 3.6 Conclusion; 4. Debt: 4.1 Diamond’s model with debt; 4.2 The inter-temporal constraint of the government; 4.3 Constant deficit policies; 4.4 Constant debt policies; 4.5 Applications and extensions; 4.6 Conclusion; 5. Further issues: 5.1 Dynastic altruism; 5.2 Human capital and education; 5.3 Inter-generational externalities; 5.4 Macro-economics and general equilibrium