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Intergenerational transfers, lifetime welfare and resource preservation
Intergenerational transfers, lifetime welfare and resource preservation
- Source :
- Economics Working Paper Series, 06 (55)
- Publication Year :
- 2006
- Publisher :
- ETH Zurich, 2006.
-
Abstract
- This paper analyzes overlapping-generations models where natural capital is owned by sel sh agents. Transfers in favor of young agents reduce the rate of depletion and increase output growth. It is shown that intergenerational transfers may be preferred to laissez-faire by an inde nite sequence of generations: if the resource share in production is su¢ ciently high, the welfare gain induced by preservation compensates for the loss due to taxation. This conclusion is reinforced when other assets are available, e.g. man-made capital, claims on monopoly rents, and R&D investment. Transfers raise the welfare of all generations, except that of the first resource owner: if resource endowments are taxed at time zero, all successive generations support resource-saving policies for purely sel sh reasons.<br />Economics Working Paper Series, 06 (55)
- Subjects :
- Q20
Intergenerationale Übertragung
Overlapping Generations
GENERATIONS + AGE GROUPS (SOCIOLOGY)
Economics
Nachhaltige Entwicklung
Generationengerechtigkeit
Q01
Technological Change
FISCAL POLICY
Erneuerbare Ressourcen
Sustainability
Intergenerational Transfers
ddc:330
Renewable Resources
GENERATIONEN + ALTERSKLASSEN (SOZIOLOGIE)
FISKALPOLITIK
Distortionary Taxation
H30
Technischer Fortschritt
Natürliche Ressourcen
Theorie
Subjects
Details
- Language :
- English
- Database :
- OpenAIRE
- Journal :
- Economics Working Paper Series, 06 (55)
- Accession number :
- edsair.doi.dedup.....0ed564e515a425db4c2347d257048cd2
- Full Text :
- https://doi.org/10.3929/ethz-a-005286662