IDEAS home Printed from https://ideas.repec.org/a/prs/rfreco/rfeco_0769-0479_2005_num_19_3_1556.html
   My bibliography  Save this article

Altruisme familial et dette publique

Author

Listed:
  • Stéphane Lambrecht

Abstract

[fre] Stéphane Lambrecht Altruisme familial et dette publique. Ce papier étudie les effets de la dette publique dans un modèle à générations imbriquées où les individus se comportent en chef de famille altruiste plutôt qu'en chef de dynastie altruiste. Les conclusions de politique économique de ce modèle le situent à mi-chemin entre le modèle de Diamond [1965] et celui de Barro [1974]. Une dette temporaire dont l'horizon serait compris dans le cycle de vie d'une génération, évince le capital par tête alors qu'elle serait neutre avec des agents égoïstes. Une dette constante par tête évince le capital à tout équilibre stationnaire stable. Mais l'ampleur de l'effet d'éviction est indépendante de la structure générationnelle des prélèvements et transferts. L'effet de la dette sur le bien- être est positif au voisinage de la règle d'or. [eng] Family Altruism and Public Debt This paper analyzes the effects of public debt in an overlapping generations model in which individuals behave as altruistic family heads instead of altruistic dynastic funding fathers. The policy properties of this model are halfway between Diamond's [1965] model and Barro's [ 1 974] . A temporary public debt with a maturity included in a generation's life cycle crowds out capital per head whereas it would be neutral with selfish agents. A constant public debt per head crowds out capital per head at any stable stationary equilibrium. But the magnitude of the crowding out is independent of the generational structure of taxes and transfers. The effect of the debt on well-being is positive in the neighbourhood of the golden rule.

Suggested Citation

  • Stéphane Lambrecht, 2005. "Altruisme familial et dette publique," Revue Française d'Économie, Programme National Persée, vol. 19(3), pages 159-188.
  • Handle: RePEc:prs:rfreco:rfeco_0769-0479_2005_num_19_3_1556
    Note: DOI:10.3406/rfeco.2005.1556
    as

    Download full text from publisher

    File URL: https://doi.org/10.3406/rfeco.2005.1556
    Download Restriction: no

    File URL: https://www.persee.fr/doc/rfeco_0769-0479_2005_num_19_3_1556
    Download Restriction: no

    References listed on IDEAS

    as
    1. Barro, Robert J, 1974. "Are Government Bonds Net Wealth?," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
    2. Stéphane Lambrecht & Philippe Michel & Emmanuel Thibault, 2006. "Capital Accumulation and Fiscal Policy in an OLG Model with Family Altruism," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 8(3), pages 465-486, August.
    3. Bernheim, B Douglas & Bagwell, Kyle, 1988. "Is Everything Neutral?," Journal of Political Economy, University of Chicago Press, vol. 96(2), pages 308-338, April.
    4. R. Glenn Hubbard & Kenneth L. Judd, 1986. "Liquidity Constraints, Fiscal Policy, and Consumption," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 17(1), pages 1-60.
    5. David Cass, 1965. "Optimum Growth in an Aggregative Model of Capital Accumulation," Review of Economic Studies, Oxford University Press, vol. 32(3), pages 233-240.
    6. Andreoni, James, 1989. "Giving with Impure Altruism: Applications to Charity and Ricardian Equivalence," Journal of Political Economy, University of Chicago Press, vol. 97(6), pages 1447-1458, December.
    7. Lambrecht, S., 1999. "Myopic Altruism and Intergenerational Transfers," G.R.E.Q.A.M. 99a51, Universite Aix-Marseille III.
    8. Bernheim, B Douglas, 1989. "A Neoclassical Perspective on Budget Deficits," Journal of Economic Perspectives, American Economic Association, vol. 3(2), pages 55-72, Spring.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prs:rfreco:rfeco_0769-0479_2005_num_19_3_1556. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Equipe PERSEE). General contact details of provider: https://www.persee.fr/collection/rfeco .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.