Intertemporal equilibrium and the transfor paradox
AbstractThe transfer paradox may occur in a world with only two countri es ata dynamically stable intertemporal competitive equilibrium. In a framework of overlapping generations with production and investment, a transfer of income may immiserize the recipient while enriching thedonor. Away from the golden ru le, a transfer may result in a Paretoimprovement. Copyright 1987 by The Review of Economic Studies Limited.
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Bibliographic InfoPaper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 1984014.
Date of creation: 01 Jan 1984
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Other versions of this item:
- Galor, O & Polemarchakis, H M, 1987. "Intertemporal Equilibrium and the Transfer Paradox," Review of Economic Studies, Wiley Blackwell, vol. 54(1), pages 147-56, January.
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