This paper explores the steady state welfare implications of permanent transfers in a two-country, two-sector … overlapping generations model. At the golden rule and with Walrasian stability, we demonstrate that the change in the (static …

This paper explores the steady state welfare implications of permanent transfers in a two-country, two-sector … overlapping generations model. At the golden rule and with Walrasian stability, we demonstrate that the change in the (static … implications of permanent transfers in a two- country, two-sector overlapping generations model. At the golden rule and with …

world interest rate rather than commodity markets and prices. In a dynamic two-sector overlapping generations model - which …