The Transfer Paradox in the One-Sector Overlapping Generations Model
AbstractThis paper examines the effects of international income transfers on capital accumulationand welfare in a one-sector overlapping generations model. It is shown that a strong form ofthe transfer paradox â€“ in which the donor country experiences a welfare gain while therecipient country experiences a welfare loss â€“ may occur both in and out of steady state. Inaddition, it is shown that a weak form of the transfer paradox â€“ where either the donor orrecipient (but not both) experiences a paradoxical welfare effect â€“ may characterize allsegments of the transition path not already characterized by the strong transfer paradox.
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Bibliographic InfoPaper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 34855.
Date of creation: 27 Jan 2008
Date of revision:
Publication status: Published in Journal of Economic Dynamics and Control 2008, vol. 32, pp. 1995-2012
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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
Web page: http://www.econ.iastate.edu
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Transfer Paradox; Overlapping Generations;
Find related papers by JEL classification:
- F11 - International Economics - - Trade - - - Neoclassical Models of Trade
- F35 - International Economics - - International Finance - - - Foreign Aid
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
- O19 - Economic Development, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
- O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
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