Scandinavian Working Papers in Economics

Working Papers,
Copenhagen Business School, Department of Economics

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

Christian Ghiglino , Bodil Olai Hansen and Mich Tved
Additional contact information
Christian Ghiglino: Department of Economics, Copenhagen Business School, Postal: Department of Economics, Copenhagen Business School, Solbjerg Plads 3 C, 5. sal, DK-2000 Frederiksberg, Denmark
Bodil Olai Hansen: Department of Economics, Copenhagen Business School, Postal: Department of Economics, Copenhagen Business School, Solbjerg Plads 3 C, 5. sal, DK-2000 Frederiksberg, Denmark
Mich Tved: University of Copenhagen, Postal: University of Copenhagen

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

JEL-codes: D51; D91; E32

12 pages, January 5, 2000

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