Finite Horizons, Political Economy, and Growth
AbstractThis paper analyzes the political economy of growth as an issue of inter-generational distribution. The first part of the paper develops a model of endogenous growth via accumulation of knowledge in a finite-horizon overlapping generations setting. equilibrium growth is enefficient due to the presence of an intergenerational externality. We than analyze the outcome when the planner's objective mirrors those of the individuals to the economy.
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Bibliographic InfoPaper provided by University of Rochester - Center for Economic Research (RCER) in its series RCER Working Papers with number 433.
Length: 31 pages
Date of creation: 1996
Date of revision:
Contact details of provider:
Postal: University of Rochester, Center for Economic Research, Department of Economics, Harkness 231 Rochester, New York 14627 U.S.A.
Other versions of this item:
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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