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Department of Economics, Copenhagen Business School Working Paper Series, Department of Economics, Copenhagen Business School

No 01-2000:
TRANSFERS AND GIFTS IN OG MODELS: MONETARY STEADY STATES

Christian Ghiglino, Bodil Olai Hansen and Mich Tved

Abstract: In the present paper the study of the welfare effects of endowment transfers is extended to the set of steady states of a general stationary overlapping generation model. A complete characterization of manipulations by coalitions and transfers which leads to welfare paradoxes is provided.

Keywords: Overlapping-generations models; manipulations; transfer paradox; Leontief effect; steady states; theory of duality; (follow links to similar papers)

JEL-Codes: D51; D91; E32; (follow links to similar papers)

12 pages, January 5, 2000

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