Endogenous lifetime, accidental bequests and economic growth

Fabio Tramontana, Luciano Fanti, Luca Gori

Risultato della ricerca: Contributo in rivistaArticolo in rivistapeer review

2 Citazioni (Scopus)

Abstract

This paper introduces the concept of unintentional bequests in a closed economy à la Chakraborty (J Econ Theory 116:119–137, 2004) with overlapping generations. We show that scarce public investments in health can lead to poverty traps depending on the relative size of the output elasticity of capital. More importantly, the existence of unintentional bequests, rather than a market for annuities, means that health tax rates play a prominent role in determining the stability of the long-term equilibrium in rich economies. In fact, Neimark–Sacker bifurcations and endogenous fluctuations occur depending on the size of the public health system.
Lingua originaleEnglish
pagine (da-a)81-98
Numero di pagine18
RivistaDecisions in Economics and Finance
Volume37
DOI
Stato di pubblicazionePubblicato - 2014

Keywords

  • Economic Growth
  • Global Analysis

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