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Capital Mobility in a Dynastic Framework

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  • Vidal, Jean-Pierre

Abstract

This paper studies the pattern of capital mobility within a two-country dynastic model in which each country is exogenously characterized by its degree of altruism toward children. The steady-state welfare implications of restricted as well as unrestricted capital mobility are established. It is shown that world integration increases the steady-state welfare of the more altruistic capital exporting country and can either increase or reduce the steady-state welfare of the less altruistic capital importing country. Copyright 2000 by Oxford University Press.

Suggested Citation

  • Vidal, Jean-Pierre, 2000. "Capital Mobility in a Dynastic Framework," Oxford Economic Papers, Oxford University Press, vol. 52(3), pages 606-625, July.
    • Handle: RePEc:oup:oxecpp:v:52:y:2000:i:3:p:606-25
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    1. 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.
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    Cited by:

    1. Michel, Philippe & Thibault, Emmanuel & Vidal, Jean-Pierre, 2006. "Intergenerational altruism and neoclassical growth models," Handbook on the Economics of Giving, Reciprocity and Altruism, Elsevier.
    2. Philippe Michel & Jean-Pierre Vidal, 2000. "Economic integration and growth under intergenerational financing of human-capital formation," Journal of Economics, Springer, vol. 72(3), pages 275-294, October.
    3. Amacher, Gregory S. & Koskela, Erkki & Ollikainen, Markku, 2002. "Optimal Forest Policies in an Overlapping Generations Economy with Timber and Money Bequests," Journal of Environmental Economics and Management, Elsevier, vol. 44(2), pages 346-369, September.
    4. Michel, Philippe & Vidal, Jean-Pierre, 2003. "Self-control and savings," Working Paper Series 211, European Central Bank.

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