Capital Mobility in a Dynastic Framework.
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.
Year of publication: |
2000
|
---|---|
Authors: | Vidal, Jean-Pierre |
Published in: |
Oxford Economic Papers. - Oxford University Press. - Vol. 52.2000, 3, p. 606-25
|
Publisher: |
Oxford University Press |
Saved in:
Saved in favorites
Similar items by person
-
Economic integration and growth under intergenerational financing of human-capital formation
Michel, Philippe, (2000)
-
Private versus public financing of education and endogenous growth
Vidal, Jean-Pierre, (2000)
-
Intergenerational altruism and neoclassical growth models
Michel, Philippe,
- More ...