Bequests and the Intergenerational Degree of Altruism
AbstractThis paper shows that Barro's (1974) debt neutrliaty theorem does not hold in OLG economies whenever the marginal rate of substitution between both periods' consumptions evaluated at the modified golden rule capital stock is lower that the degree of intergenerational altruism. It could be deduced from this result that an increase in the degree of altruism induces an increase in bequests.
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Bibliographic InfoPaper provided by Universite Aix-Marseille III in its series G.R.E.Q.A.M. with number 99a43.
Length: 9 pages
Date of creation: 1999
Date of revision:
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MATHEMATICAL ANALYSIS ; INHERITANCE ; GENERATIONS;
Other versions of this item:
- Emmanuel THIBAULT, 2001. "Bequests and the Intergenerational Degree of Altruism," Discussion Papers (REL - Recherches Economiques de Louvain) 2001022, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
- D91 - Microeconomics - - Intertemporal Choice - - - Intertemporal Household Choice; Life Cycle Models and Saving
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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Rodney L. White Center for Financial Research Working Papers
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- Andrew B. Abel, 1988. "Operative Gift and Bequest Motives," NBER Working Papers 2331, National Bureau of Economic Research, Inc.
- Emmanuel Thibault, 2000. "Existence of equilibrium in an OLG model with production and altruistic preferences," Economic Theory, Springer, vol. 15(3), pages 709-715.
- Galor, Oded & Ryder, Harl E., 1989. "Existence, uniqueness, and stability of equilibrium in an overlapping-generations model with productive capital," Journal of Economic Theory, Elsevier, vol. 49(2), pages 360-375, December.
- Bruno DECREUSE & Bertrand WIGNIOLLE, 2006.
Discussion Papers (REL - Recherches Economiques de Louvain)
2006013, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Emmanuel Thibault, 2008. "Dynamic efficiency and intergenerational altruism," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 11(3), pages 679-687, July.
- Michel, Philippe & Thibault, Emmanuel & Vidal, Jean-Pierre, 2004.
"Intergenerational altruism and neoclassical growth models,"
Working Paper Series
0386, European Central Bank.
- Michel, Philippe & Thibault, Emmanuel & Vidal, Jean-Pierre, 2006. "Intergenerational altruism and neoclassical growth models," Handbook on the Economics of Giving, Reciprocity and Altruism, Elsevier.
- repec:hal:journl:halshs-00185314 is not listed on IDEAS
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