Please use this identifier to cite or link to this item: 192.168.6.56/handle/123456789/27752
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dc.contributor.authorDAVID DE LA CROIX, PHILIPPE MICHEL-
dc.date.accessioned2018-12-05T07:37:33Z-
dc.date.available2018-12-05T07:37:33Z-
dc.date.issued2004-
dc.identifier.isbn0-511-02891-1-
dc.identifier.urihttp://10.6.20.12:80/handle/123456789/27752-
dc.descriptionThis book provides an in-depth treatment of the overlapping generations model in economics incorporating production. In chapter 1, the authors investigate competitive equilibria and corresponding dynamics: existence and uniqueness of equilibrium, global dynamics of capital(including poverty traps), and various extensions of the model. Chapter 2 analyzes the optimality of allocations in this framework, using both the value function and marginal approaches. Optimality with unbounded growth is also analyzed. Policy issues, including the Second Welfare Theorem, pensions, government spending, and optimal taxation, are discussed in chapter 3. The notion of public debt is introduced in chapter 4, and the sustainability of policies with budget deficits/surpluses is examined. The last chapter presents extensions of the model including altruism, education/human capital, and habit formation. Methodological emphasis is put on using general preferences and technologies, on the global study of dynamic aspects of the model, and on furnishing adequate tools to analyze policies involving inter-generational transfers-
dc.languageenen_US
dc.language.isoenen_US
dc.publisherCambridge university Pressen_US
dc.subjectDevelopmenten_US
dc.titleA Theory of Economic Growth: Dynamics and Policy in Overlapping Generationsen_US
dc.typeBooken_US
Appears in Collections:Regional and Local Development Studies

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