Dynamic Inefficiency in an Overlapping Generation Economy with Pollution and Health Costs. Maria-Jose Gutierrez University of the Basque Country Journal of Public Economic Theory, 10 (4), 2008, pp. 563-594. Presented by Juan. Introduction.
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University of the Basque Country
Journal of Public Economic Theory, 10 (4), 2008, pp. 563-594
Presented by Juan
Standard Diamond’s model results hold
then there are always efficient capital ratios that exceed the golden rule capital ratio. Otherwise, the maximum efficient capital ratio is given by the golden rule allocation
Thanks with Pollution and Health Costs