000			01910nam a2200229Ia 4500
999			_c1316 _d1316
003			DE-boiza
005			20200122153832.0
008			191008
020			_a0-521-00115-3
040			_cIZA
100			_aCroix, David de la _93753
100			_a Michel, Philippe _93752
245		2	_aA Theory of Economic Growth: Dynamics and Policy in Overlapping Generations
260			_c2002 _bCambridge University Press, _aCambridge,
300			_a378 pages
340			_hE3 22
520			_aProvides an in-depth treatment of the overlapping generations model in economics incorporating production. Chapter 1 investigates competitive equilibria and corresponding dynamics: existence and uniqueness of equilibrium, global dynamics of capital (including poverty traps), and various extensions of the model. Chapter 2 analyzes the optimality of allocations in this framework, using both the value function and marginal approaches. Optimality with unbounded growth is also analyzed. Policy issues including the Second Welfare Theorem, pensions, government spending, and optimal taxation, are discussed in chapter 3. The notion of public debt is introduced in chapter 4 and the sustainability of policies with budget deficits/surpluses is examined. The last chapter presents extensions of the model including altruism, education/human capital, and habit formation. Methodological emphasis is put on using general preferences and technologies, on the global study of dynamic aspects of the model, and on furnishing adequate tools to analyze policies involving inter-generational transfers.
650			_aoverlapping generations model _96654
650			_aeconomic growth _96655
856			_uhttp://services.cambridge.org/in/academic/subjects/economics/macroeconomics-and-monetary-economics/theory-economic-growth-dynamics-and-policy-overlapping-generations?format=HB&isbn=9780521806428 _yPublisher's website
942			_cBO _2ddc