Read e-book online A Theory of Economic Growth: Dynamics and Policy in PDF

By David de la Croix,Philippe Michel

ISBN-10: 0521001153

ISBN-13: 9780521001151

ISBN-10: 0521806429

ISBN-13: 9780521806428

offers an in-depth remedy of the overlapping generations version in economics incorporating creation. bankruptcy 1 investigates aggressive equilibria and corresponding dynamics: life and area of expertise of equilibrium, worldwide dynamics of capital (including poverty traps), and diverse extensions of the version. bankruptcy 2 analyzes the optimality of allocations during this framework, utilizing either the price functionality and marginal ways. Optimality with unbounded development is usually analyzed. coverage concerns together with the second one Welfare Theorem, pensions, executive spending, and optimum taxation, are mentioned in bankruptcy three. The idea of public debt is brought in bankruptcy four and the sustainability of rules with price range deficits/surpluses is tested. The final bankruptcy provides extensions of the version together with altruism, education/human capital, and behavior formation. Methodological emphasis is wear utilizing common personal tastes and applied sciences, at the international learn of dynamic features of the version, and on furnishing enough instruments to research rules concerning inter-generational transfers.

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A Theory of Economic Growth: Dynamics and Policy in Overlapping Generations by David de la Croix,Philippe Michel

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