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Intertemporal Equilibrium with Myopic Altruism

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Author Info

  • Lambrecht, S.
  • Michel, P.
  • Thibault, E.

Abstract

We modify the altruistic model by assuming that income, instead of the heir's utility, enters the altruist's utility function. We name this formulation "myopic" because, unlike in Barro's (1974) model, the altruist does not need to foresee into the indenite future to make his decisions. We analyze the equilibrium dynamics of an OLG model with individuals motivated by myopic altruism. We derive conditions for existence and uniqueness of the equilibrium. Unlike in Barro's model, there may exist multiple steady state equilibria with operative altruism.

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Bibliographic Info

Paper provided by Universite Aix-Marseille III in its series G.R.E.Q.A.M. with number 00a24.

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Length: 17 pages
Date of creation: 2000
Date of revision:
Handle: RePEc:fth:aixmeq:00a24

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Postal: G.R.E.Q.A.M., (GROUPE DE RECHERCHE EN ECONOMIE QUANTITATIVE D'AIX MARSEILLE), CENTRE DE VIEILLE CHARITE, 2 RUE DE LA CHARITE, 13002 MARSEILLE.
Phone: 04.91.14.07.70
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Web page: http://www.greqam.fr/
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Related research

Keywords: ECONOMIC MODELS ; INCOME ; UTILITY FUNCTIONS ; ALTRUISM;

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Cited by:
  1. LAMBRECHT, Stéphane & MICHEL, Philippe & THIBAULT, Emmanuel, . "Capital accumulation and fiscal policy in an OLG model with family altruism," CORE Discussion Papers RP -1913, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. MICHEL, Philippe, 2003. "Public debt and limited altruism: is Ricardian equivalence possible if altruism is limited ?," CORE Discussion Papers 2003008, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).

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