تقرير
Dynamic efficiency and inefficiency in a class of overlapping-generations economies with multiple assets
| العنوان: | Dynamic efficiency and inefficiency in a class of overlapping-generations economies with multiple assets |
|---|---|
| المؤلفون: | Hellwig, M. |
| بيانات النشر: | Max Planck Institute for Research on Collective Goods, Discussion Paper 2024/8 |
| سنة النشر: | 2024 |
| المجموعة: | Max Planck Society: MPG.PuRe |
| مصطلحات موضوعية: | D15 - Intertemporal Household Choice, Life Cycle Models and Saving, D61 - Allocative Efficiency, Cost–Benefit Analysis, E21 - Consumption, Saving, Wealth, E22 - Investment, Capital, Intangible Capital, Capacity, E62 - Fiscal Policy, H30 - General |
| الوصف: | For overlapping-generations models with multiple assets and without labour, welfare assessments of equilibrium allocations depend on whether the certainty equivalents of the one-period-ahead marginal rates of return on assets that are held are larger or smaller than the population growth rate. Conditional on the period and the history up to that period, the equilibrium values of these certainty equivalents are the same for all assets held and equal to the riskless rate if a riskless asset is held. If population growth is uncertain, the standard of comparison is the certainty equivalent of the population growth rate when interpreted as the marginal rate of return on an additional asset. |
| نوع الوثيقة: | report |
| وصف الملف: | application/pdf |
| اللغة: | unknown |
| العلاقة: | http://hdl.handle.net/21.11116/0000-000E-721C-3Test; http://hdl.handle.net/21.11116/0000-000E-721E-1Test |
| الإتاحة: | http://hdl.handle.net/21.11116/0000-000E-721C-3Test http://hdl.handle.net/21.11116/0000-000E-721E-1Test |
| حقوق: | info:eu-repo/semantics/openAccess |
| رقم الانضمام: | edsbas.2C35877A |
| قاعدة البيانات: | BASE |
| الوصف غير متاح. |