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Nations, Overlapping Generations, and Historic Injustice

Daniel Butt

in Rectifying International Injustice: Principles of Compensation and Restitution Between Nations

Published in print:
2008
Published Online:
January 2009
ISBN:
9780199218240
eISBN:
9780191711589
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199218240.003.0006
Subject:
Political Science, Political Theory, International Relations and Politics

This chapter considers the question of the responsibility that present day generations bear as a result of the actions of their ancestors. Is it morally significant that we share a national identity ... More


Chapter Chapter Who Bears What Risk? An Intergenerational Perspective

Henning Bohn

in Restructuring Retirement Risks

Published in print:
2006
Published Online:
September 2006
ISBN:
9780199204656
eISBN:
9780191603822
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199204659.003.0002
Subject:
Economics and Finance, Financial Economics

Retirement systems in the past have attempted to protect retirees from risk. However, by making fixed benefit promises, these systems necessarily imposed a more-than-proportional risk on younger ... More


The Social Breeding System of the Jamaican Bromeliad Crab Metopaulias depressus

Rudolf Diesel and Christoph D. Schubart

in Evolutionary Ecology of Social and Sexual Systems: Crustaceans as Model Organisms

Published in print:
2007
Published Online:
September 2007
ISBN:
9780195179927
eISBN:
9780199790111
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195179927.003.0017
Subject:
Biology, Aquatic Biology

The Jamaican bromeliad crab Metopaulias depressus lives exclusively in the water-storing leaf axils of bromeliad plants, which provide a supporting microclimate, safety, food, and are expandable and ... More


Behavioral Ecology of Semiterrestrial Crayfish

Alastair M.M. Richardson

in Evolutionary Ecology of Social and Sexual Systems: Crustaceans as Model Organisms

Published in print:
2007
Published Online:
September 2007
ISBN:
9780195179927
eISBN:
9780199790111
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195179927.003.0015
Subject:
Biology, Aquatic Biology

Like a number of the other crustaceans, burrowing crayfish live in a situation that tends to lead to prolonged associations between mother and offspring, and even overlapping generations in some ... More


Computation of Equilibria in Heterogeneous‐Agent Models

José‐Víctor Ríos‐Rull

in Computational Methods for the Study of Dynamic Economies

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199248278
eISBN:
9780191596605
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199248273.003.0011
Subject:
Economics and Finance, Macro- and Monetary Economics

There are many questions in economics for which heterogeneous‐agent dynamic models (i.e. models populated by agents that are different from each other) have to be used to provide answers. The first ... More


Computing Models of Social Security

Ayşe İmrohoroğlu, Selahattin İmrohoroğlu, and Douglas H. Joines

in Computational Methods for the Study of Dynamic Economies

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199248278
eISBN:
9780191596605
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199248273.003.0010
Subject:
Economics and Finance, Macro- and Monetary Economics

A core topic of current economic research (and policy debate) is the evaluation of social security systems and their possible reforms. Shows how models of social security can be computed in economies ... More


Basic Channels

Pierre-Richard Agénor

in Public Capital, Growth and Welfare: Analytical Foundations for Public Policy

Published in print:
2012
Published Online:
October 2017
ISBN:
9780691155807
eISBN:
9781400845392
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691155807.003.0002
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter begins by focusing on “conventional” channels through which public capital is deemed to affect growth, namely, productivity, complementarity, and crowding-out effects. It presents a ... More


Noise Trader Risk in Financial Markets

Andrei Shleifer

in Inefficient Markets: An Introduction to Behavioral Finance

Published in print:
2000
Published Online:
November 2003
ISBN:
9780198292272
eISBN:
9780191596933
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198292279.003.0002
Subject:
Economics and Finance, Financial Economics

Examines how noise traders can limit arbitrage even in an environment that is very close to a textbook model. The author constructs an overlapping generation (OLG) model where noise traders generate ... More


Uncertainty, Insurance, and Social Norms

Partha Dasgupta

in An Inquiry into Well-Being and Destitution

Published in print:
1995
Published Online:
November 2003
ISBN:
9780198288350
eISBN:
9780191596094
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198288352.003.0010
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter introduces the factor of environmental uncertainty into the consideration of resource allocation mechanisms. It has seven sections: (1) environmental uncertainty; (2) choice under ... More


Public Capital and Innovation

Pierre-Richard Agénor

in Public Capital, Growth and Welfare: Analytical Foundations for Public Policy

Published in print:
2012
Published Online:
October 2017
ISBN:
9780691155807
eISBN:
9781400845392
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691155807.003.0005
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter extends the Allais–Samuelson Overlapping Generations models presented in chapters 1 and 2 to study interactions between infrastructure and human capital with R&D activities and growth. ... More


Social Security and Demographic Uncertainty: The Risk-Sharing Properties of Alternative Policies

Henning Bohn

in Risk Aspects of Investment-Based Social Security Reform

Published in print:
2000
Published Online:
February 2013
ISBN:
9780226092553
eISBN:
9780226092560
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226092560.003.0007
Subject:
Economics and Finance, Economic Systems

Using the overlapping-generations model, this chapter examines a different type of risk: the demographic risk that a generation will be unexpectedly large or small. In a closed economy, a large ... More


The Economy: Time, Size, and Complexity

Martin Shubik and Eric Smith

in The Guidance of an Enterprise Economy

Published in print:
2016
Published Online:
May 2017
ISBN:
9780262034630
eISBN:
9780262337540
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262034630.003.0006
Subject:
Economics and Finance, Econometrics

The first five chapters have been devoted to reformulating a pre-institutional static theory of general equilibrium, into considering an economy in terms of process where markets and other ... More


Multiperiod Models of Trade

Thomas Quint and Martin Shubik

in Barley, Gold, or Fiat: Toward a Pure Theory of Money

Published in print:
2014
Published Online:
May 2014
ISBN:
9780300188158
eISBN:
9780300199222
Item type:
chapter
Publisher:
Yale University Press
DOI:
10.12987/yale/9780300188158.003.0016
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter covers multiperiod versions of our models. In the first such model, with no loan market, there are T time periods, with players deriving utility from consumption of the two goods each ... More


The Social Security Trust Fund, the Riskless Interest Rate, and Capital Accumulation

Andrew B. Abel

in Risk Aspects of Investment-Based Social Security Reform

Published in print:
2000
Published Online:
February 2013
ISBN:
9780226092553
eISBN:
9780226092560
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226092560.003.0006
Subject:
Economics and Finance, Economic Systems

This chapter considers the existence of a defined-benefit pension system in which a social security trust fund is accumulated as a buffer between payroll tax receipts and pension expenses of the ... More


Optimal capital income taxation

Matti Tuomala

in Optimal Redistributive Taxation

Published in print:
2016
Published Online:
March 2016
ISBN:
9780198753414
eISBN:
9780191815058
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198753414.003.0014
Subject:
Economics and Finance, Public and Welfare, Financial Economics

Chapter 14 asks the question of how capital income should be taxed. One of the limitations of the standard income tax model is that it does not address intertemporal problems. In an intertemporal ... More


Intertemporal Equilibria with Optimizing Agents

Jean-Pascal Bénassy

in Macroeconomic Theory

Published in print:
2011
Published Online:
April 2015
ISBN:
9780195387711
eISBN:
9780190261405
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780195387711.003.0004
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter analyzes different deterministic models with boundless horizons where all decisions are taken by maximizing agents. It first presents a benchmark model, Ramsay model, with exogenous ... More


Other Major Issues: Growth, Scale Effects and Inequality

Dipankar Dasgupta

in Modern Growth Theory

Published in print:
2010
Published Online:
October 2012
ISBN:
9780198069966
eISBN:
9780199080458
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198069966.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter examines two important developments in endogenous growth theory: the scale effect of human capital on economic growth and two models that were developed to assess the impact of growth on ... More


Overlapping Generations

Jean-Pascal Bénassy

in Macroeconomic Theory

Published in print:
2011
Published Online:
April 2015
ISBN:
9780195387711
eISBN:
9780190261405
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780195387711.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter presents a discrete time model, the overlapping generations (OLG) model. It starts by presenting the most classic OLG model, wherein each family lives over two periods and overlaps only ... More


Money

Jean-Pascal Bénassy

in Macroeconomic Theory

Published in print:
2011
Published Online:
April 2015
ISBN:
9780195387711
eISBN:
9780190261405
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780195387711.003.0011
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter explains the nature of money as a unit of account, medium of exchange, and as a store of value, and addresses the problem of introducing money using rigorous dynamic models. It begins by ... More


Financing Medicare: A General Equilibrium Analysis

Orazio Attanasio, Sagiri Kitao, and Giovanni L. Violante

in Demography and the Economy

Published in print:
2011
Published Online:
February 2013
ISBN:
9780226754727
eISBN:
9780226754758
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226754758.003.0010
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter deals with the long-term financing of Medicare in the United States. The chapter provides a model that features employer-provided health insurance, Medicare for the elderly, and Social ... More


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