Akiomi Kitagawa () (Graduate School of Economics, Osaka University) Ryo Horii () (Graduate School of Economics, Osaka University) Koichi Futagami () (Graduate School of Economics, Osaka University)
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Using an overlapping generations model, this note shows that an improvement in the efficiency of human capital production decreases the net income of the young household while increasing that of the old. Without compensating redistribution, it deteriorates lifetime utilities of all generations except for the initial old households.
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Paper provided by Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP) in its series Discussion Papers in Economics and Business with number
04-15.