| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 965462 | Journal of Macroeconomics | 2012 | 15 Pages |
Abstract
⺠Characterizes efficiency in the neoclassical OLG model with heterogeneous agents. ⺠Shows that competitive steady states with r = n and r < n cannot be Pareto-ranked. ⺠Identifies the market mechanism responsible for this result. ⺠As a by-product it shows that the classic result of Stein (1969) is incorrect. ⺠Implications for social security policy and golden-rule-related problems are drawn.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Wolfgang Kuhle,