Endogenous Growth, Human Capital, and Bequests in a Life-Cycle Model
AbstractThis paper investigates the relationship between growth and efficiency in an overlapping generations economy in which altruistic parents endow their children with human capital (education) and leave physical bequests. The author gives conditions under which the physical bequest motive is not operative in a balanced equilibrium when human capital exhibits externalities. He also shows that the efficient rate of growth is lower than the competitive one if the economy is bequest-constrained and externalities from education are not very strong. Some fiscal policy experiments are performed for both bequest-constrained economies and unconstrained ones. Copyright 1995 by Royal Economic Society.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Oxford University Press in its journal Oxford Economic Papers.
Volume (Year): 47 (1995)
Issue (Month): 1 (January)
Contact details of provider:
Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK
Fax: 01865 267 985
Web page: http://oep.oupjournals.org/
Other versions of this item:
- Caballe, J., 1991. "Endogeneous Growth, Human Capital and Bequests in a Life-Cycle Model," UFAE and IAE Working Papers 158.91, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Nordblom, K., 2001.
"Within-the-Family Education and Its Impact on Equality,"
2001:06, Uppsala - Working Paper Series.
- Nordblom, Katarina, 2001. "Within-the-Family Education and its Impact on Equality," Working Paper Series 2001:6, Uppsala University, Department of Economics.
- Katarina Nordblom, 2001. "Within-the-family education and its impact on equality," Public Economics 0105004, EconWPA.
- Jaime Alonso-Carrera & Jordi Caballé & Xavier Raurich, 2004.
"Aspirations, Habit Formation, and Bequest Motive,"
UFAE and IAE Working Papers
641.04, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Michel, P. & Vidal., J.-P., 1998.
"Economic Integration and Growth under Intergenerational Financing of Human Capital Formation,"
Cambridge Working Papers in Economics
9809, Faculty of Economics, University of Cambridge.
- Philippe Michel & Jean-Pierre Vidal, 2000. "Economic integration and growth under intergenerational financing of human-capital formation," Journal of Economics, Springer, vol. 72(3), pages 275-294, October.
- Michel, P. & Vidal, J.-P., 1999. "Economic Integration and Growth under Intergenerational Financing of Human Capital Formation," G.R.E.Q.A.M. 99a55, Universite Aix-Marseille III.
- Barnett, Richard C. & Bhattacharya, Joydeep & Bunzel, Helle, 2013.
"Deviant Generations, Ricardian Equivalence, and Growth Cycles,"
Staff General Research Papers
12939, Iowa State University, Department of Economics.
- Richard Barnett & Joydeep Bhattacharya & Helle Bunzel, 2013. "Deviant generations, Ricardian equivalence, and growth cycles," Economic Theory, Springer, vol. 52(1), pages 367-396, January.
- Alfredo Cuevas, 2001. "Short-and Long-Term Poverty and Social Policy in a "Snakes and Ladders" Model of Growth," IMF Working Papers 01/172, International Monetary Fund.
- William G. Gale & Joel B. Slemrod, 2001. "Rethinking the Estate and Gift Tax: Overview," NBER Working Papers 8205, National Bureau of Economic Research, Inc.
- Lambrecht, Stephane & Michel, Philippe & Vidal, Jean-Pierre, 2005.
"Public pensions and growth,"
European Economic Review,
Elsevier, vol. 49(5), pages 1261-1281, July.
- LAMBRECHT, Stéphane & MICHEL, Philippe & VIDAL, Jean-Pierre, . "Public pensions and growth," CORE Discussion Papers RP -1820, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Lambrecht, Stéphane & Michel, Philippe & Vidal, Jean-Pierre, 2001. "Public pensions and growth," Working Paper Series 0090, European Central Bank.
- Julio López Díaz & Zenón J. Ridruejo, 2003. "Pensiones, crecimiento y envejecimiento de la población," Investigaciones Economicas, Fundación SEPI, vol. 27(2), pages 343-367, May.
- Rebelein, Robert P., 2005. "Intergenerational Strategic Behavior and Crowding Out in a General Equilibrium Model," Vassar College Department of Economics Working Paper Series 74, Vassar College Department of Economics.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.