The Dynamics of Bequeathed Tastes
If children inherit life standard aspirations from their parents, their savings are affected and cycles may appear in OLG models with production. At some point of an expansion, aspirations grow faster than wages, savings decrease, and a contraction begins.
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|Date of creation:||01 Feb 1996|
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- Grandmont, Jean-Michel, 1985.
"On Endogenous Competitive Business Cycles,"
Econometric Society, vol. 53(5), pages 995-1045, September.
- Farmer, Roger E. A., 1986. "Deficits and cycles," Journal of Economic Theory, Elsevier, vol. 40(1), pages 77-88, October.
- Reichlin, Pietro, 1986. "Equilibrium cycles in an overlapping generations economy with production," Journal of Economic Theory, Elsevier, vol. 40(1), pages 89-102, October.
- Cremer, H. & Pestieau, P., "undated".
"Education for attention: a Nash bargaining solution to the bequest-as-exchange model,"
CORE Discussion Papers RP
1094, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Cremer, Helmuth & Pestieau, Pierre, 1993. "Education for Attention: A Nash Bargaining Solution to the Bequest-as-Exchange Model," Public Finance = Finances publiques, , vol. 48(Supplemen), pages 85-97.
- Michele Boldrin & Michael Woodford, 1988.
"Equilibruim Models Displaying Endogenous Fluctuations and Chaos: A Survey,"
UCLA Economics Working Papers
530, UCLA Department of Economics.
- Boldrin, Michele & Woodford, Michael, 1990. "Equilibrium models displaying endogenous fluctuations and chaos : A survey," Journal of Monetary Economics, Elsevier, vol. 25(2), pages 189-222, March.
- Costas Azariadis & Allan Drazen, 1990. "Threshold Externalities in Economic Development," The Quarterly Journal of Economics, Oxford University Press, vol. 105(2), pages 501-526.
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