IDEAS home Printed from https://ideas.repec.org/a/oup/oxecpp/v48y1996i1p52-74.html
   My bibliography  Save this article

Fiscal Policy and Endogenous Growth in a Bequest-Constrained Economy

Author

Listed:
  • Rangazas, Peter C

Abstract

Evidence suggests that the vast majority of planned altruistic transfers between generations are human capital investments in children (households are generally bequest constrained). This paper demonstrates that empirically based calibrations of simple overlapping generations models with altruism generate binding bequest constraints with realistic endogenous growth rates and returns to capital. The author also shows how intergenerational and intragenerational redistributions of wealth affect long-run growth in bequest-constrained economies. Redistribution is a feature of fiscal policy abstracted away from by the standard infinitely lived representative agent models used to analyze endogenous growth. Copyright 1996 by Royal Economic Society.

Suggested Citation

  • Rangazas, Peter C, 1996. "Fiscal Policy and Endogenous Growth in a Bequest-Constrained Economy," Oxford Economic Papers, Oxford University Press, vol. 48(1), pages 52-74, January.
    • Handle: RePEc:oup:oxecpp:v:48:y:1996:i:1:p:52-74
    as

    Download full text from publisher

    File URL: http://links.jstor.org/sici?sici=0030-7653%28199601%292%3A48%3A1%3C52%3AFPAEGI%3E2.0.CO%3B2-7&origin=bc
    File Function: full text
    Download Restriction: Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Lutz Hendricks, 2001. "Growth, Death, and Taxes," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(1), pages 26-57, January.
    2. Philippe Michel & Jean-Pierre Vidal, 2000. "Economic integration and growth under intergenerational financing of human-capital formation," Journal of Economics, Springer, vol. 72(3), pages 275-294, October.
    3. Katarina Nordblom, 2001. "Within-the-family education and its impact on equality," Public Economics 0105004, University Library of Munich, Germany.
    4. Koji Kitaura, 2010. "Fiscal Policy And Economic Growth In The Imperfect Labor Market," Metroeconomica, Wiley Blackwell, vol. 61(4), pages 686-700, November.
    5. Hirte, Georg, 2001. "Pension Policies for an Aging Society," Beiträge zur Finanzwissenschaft, Mohr Siebeck, Tübingen, edition 1, volume 14, number urn:isbn:9783161475399, September.
    6. Ben Fine, 1998. "Endogenous Growth Theory: A Critical Assessment," Working Papers 80, Department of Economics, SOAS University of London, UK.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:oxecpp:v:48:y:1996:i:1:p:52-74. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://academic.oup.com/oep .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.