Human capital, externalities and growth in an overlapping generations model

被引：5

作者：

Gaumont, D. ^{[1
]}

Leonard, D. ^{[2
]}

机构：

[1] Univ Paris 2, ERMES EAC CNRS 7181, TEPP FR CNRS 3126, Paris, France

[2] Flinders Univ S Australia, Adelaide, SA, Australia

来源：

RESEARCH IN ECONOMICS | 2010年 / 64卷 / 03期

关键词：

Overlapping generations model; Endogenous labor supply; Learning-by-doing; Human capital;

D O I：

10.1016/j.rie.2010.04.001

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We consider an overlapping generations model with endogenous labor supplies by young and old and a human capital accumulation process that relies on the interaction of these two types of labor. This interaction is not understood by the market hence we analyze fiscal policies designed to remedy this. We argue that taxes must be acceptable to people alive at the time of planning. This makes many proposed taxes unfeasible. Two distinct paths to growth emerge; one through increased savings and another through increased workforce participation. The long run rate of growth depends entirely on human capital but we find this to be of little relevance. Some simulation results are presented for two stylized economic blocks calibrated on the USA and the EURO-zone. (C) 2010 University of Venice. Published by Elsevier Ltd. All rights reserved.

引用

页码：186 / 200

页数：15

共 23 条

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Allais M., 1947, EC ET INTERET

[2] THE ECONOMIC-IMPLICATIONS OF LEARNING BY DOING [J].