Social Security Systems, Human Capital, and Growth in a Small Open Economy
نویسندگان
چکیده
منابع مشابه
Social Security Systems, Human Capital, and Growth in a Small Open Economy
We consider a small open economy in which the level of public education funding is determined by popular vote. We show that growth can be enhanced by the introduction of pay-as-you-go pensions even if the growth rate of aggregate wages falls short of the interest rate. The reason is that the PAYG system allows future retirees to partially internalize positive externalities of public education d...
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Outward-oriented economies seem to grow faster than inward-looking ones. Does the literature on convergence have anything to say on this? In the dynamic Heckscher-Ohlin-Samuelson model, with factor-price equalization, there is no convergence of incomes. This is because with identical preferences and return to capital, irrespective of initial levels the growth rates of consumption are the same....
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â â â â â â â abstract â outward-oriented economies seem to grow faster than inward-looking ones. does the literature on convergence have anything to say on this? in the dynamic heckscher-ohlin-samuelson model, with factor-price equalization, there is no convergence of incomes. this is because with identical preferences and return to capital, irrespective of initial levels the growth rates o...
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15 صفحه اولCarbon Leakage in a Small Open Economy with Capital Mobility
When international prices and foreign environmental policies are unaffected by domestic actions, carbon leakage is generated through the substitution of carbon-intensive domestic products with imports. This paper studies this “small open economy” leakage effect, using a numerical general equilibrium model of the Italian economy. The comparison of alternative simulation scenarios highlights that...
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ژورنال
عنوان ژورنال: Journal of Public Economic Theory
سال: 2012
ISSN: 1097-3923
DOI: 10.1111/j.1467-9779.2012.01553.x