We consider an overlapping generations model of small open economy with Harrod neutral technical progress. If the interest rate is less that the growth rate, intergenerational public transfers increase welfare of some generations and reduce welfare of others.

We consider a two-period overlapping generations economy in which individuals work in both periods and acquire skills when young through both learning-by-doing and formal education. We characterise the unique saddle-path stable steady state of this economy and show that individuals spend too...

This paper qualifies Weil [1989]'s according to which dynamic efficiency may fail when agents are infinitely-lived, but "disconnected" from previous ones. It is shown that finite horizons matter in the following sense: if dynamic inefficiency results when the agents have infinite horizons, then...

We construct a R&D based endogenous growth model within an overlapping generations framework. We study the properties of the long run growth rate. We define endogenous growth as an equilibrium in which the long run growth rate is always stricly larger than zero. Then, we show that endogenous...

We consider the determinacy of perfect foresight equilibrium near a steady state in an overlapping generations model with production and both altruistic and non altruistic agents having distinct utility functions. The proportions of each type of consumers is exogenously given. Such a model may...

This paper examines the patterns of economic integration and endogenous growth in a two-country overlapping generations world in which the formation of childrn's human capital is financed by parents. It explores the influence of cross-border external effects in human capital on growth....

This paper shows that Barro's (1974) debt neutrliaty theorem does not hold in OLG economies whenever the marginal rate of substitution between both periods' consumptions evaluated at the modified golden rule capital stock is lower that the degree of intergenerational altruism. It could be...