ENDOGENOUS GROWTH, HUMAN CAPITAL, AND BEQUESTS IN A LIFE-CYCLE MODEL
ENDOGENOUS GROWTH, HUMAN CAPITAL, AND BEQUESTS IN A LIFE-CYCLE MODEL
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生命周期模型中的内生增长、人力资本和遗产
DOI：
10.1093/oxfordjournals.oep.a042158
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发表时间：
1995
影响因子：
5
通讯作者：
J. Caballé
中科院分区：
文献类型：
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作者：
J. Caballé
本文研究了在世代重叠的经济中，利他的父母为子女提供人力资本（教育）并留下物质遗产的增长和效率之间的关系。本文给出了当人力资本具有外部性时，物质遗产动机在均衡均衡中不起作用的条件。他还指出，如果经济受到遗赠约束，教育的外部性不是很强，那么有效增长率就会低于竞争性增长率。在此基础上，本文对遗赠约束和无遗赠约束的经济体进行了财政政策实验。版权所有1995年由皇家经济学会。
This paper investigates the relationship between growth and efficiency in an overlapping generations economy in which altruistic parents endow their children with human capital (education) and leave physical bequests. The author gives conditions under which the physical bequest motive is not operative in a balanced equilibrium when human capital exhibits externalities. He also shows that the efficient rate of growth is lower than the competitive one if the economy is bequest-constrained and externalities from education are not very strong. Some fiscal policy experiments are performed for both bequest-constrained economies and unconstrained ones. Copyright 1995 by Royal Economic Society.