The Transfer Paradox In a Two-Sector Overlapping Generatoins Model: The Duality Approach

In this paper, we apply the duality approach, which is generally used in a static framework, to a two-sector overlapping generations model. Applying the duality approach enables one to determine clearly the welfare effects of a transfer and to explain how the transfer paradox might occur. Especially, we showed that whether the transfer paradox occurs depends on two effects: the dynamic terms-of-trade effect and the capital accumulation effect.

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Year of publication:	2007
Authors:	Shinozaki, Tsuyoshi
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 6.2007, 10, p. 1-9
Publisher:	AccessEcon

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Classification:	F0 - International Economics. General ; F4 - Macroeconomic Aspects of International Trade and Finance
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005181840