期刊名称：CORE Discussion Papers / Center for Operations Research and Econometrics (UCL), Louvain
出版年度：2007
卷号：1
出版社：Center for Operations Research and Econometrics (UCL), Louvain
摘要：This paper proposes a simple OLG model which is consistent with the essential facts
about consumer behavior, capital accumulation and wealth distribution, and yields
some new and surprising conclusions about fiscal policy. By considering a society in
which individuals are distinguished according to two characteristics, altruism and
wealth preference, we show that those who in the long run hold the bulk of private
capital are not so much motivated by dynastic altruism as by preference for wealth.
Two types of social segmentation can result with different wealth distribution. To a
large extent our results seem to fit reality better than those obtained with standard
optimal growth models in which dynastic altruism (or rate of impatience) is the only
source of heterogeneity: overaccumulation can appear, public debt and unfunded
pensions are not neutral, estate taxation can improve the welfare of the top wealthy.
关键词：altruism, preference for wealth, capital accumulation, wealth
distribution, Ricardian equivalence.
