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Intergenerational Transfers

In: Public Finance in an Overlapping Generations Economy

Author

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  • Toshihiro Ihori

    (University of Tokyo)

Abstract

It seems possible to argue that the class of infinitely-lived models is too narrow to accommodate some forms of intergenerational heterogeneity. In particular, it is impossible to understand the effect of intergenerational income redistribution on growth. This is one of the main reasons why we have used the overlapping generations model in this book. However, it is also impossible to understand the long-run effect on the growth rate, where the long-run growth rate is exogenously given, in the standard overlapping generations model as developed in the previous chapters.

Suggested Citation

  • Toshihiro Ihori, 1996. "Intergenerational Transfers," Palgrave Macmillan Books, in: Public Finance in an Overlapping Generations Economy, chapter 11, pages 242-271, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-0-230-38990-8_11
    DOI: 10.1057/9780230389908_11
    as

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