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24 p, 280.3 KB |
Can consumption spillovers be a source of equilibrium indeterminacy?
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Alonso Carrera, Jaime (Universidad de Vigo) ;
Caballé, Jordi (Universitat Autònoma de Barcelona) ;
Raurich, Xavier (Universitat de Barcelona)
In this paper, we show that consumption externalities are a source of equilibrium indeterminacy in a growth model with endogenous labor supply. In particular, when the marginal rate of substitution between own consumption and the others' consumption is constant along the equilibrium path, the equilibrium does not exhibit indeterminacy. [...]
Barcelona: CREA-Barcelona Economics; 2007
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32 p, 321.7 KB |
Fiscal policy, composition of intergenerational transfers, and income distribution
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Alonso Carrera, Jaime (Universidad de Vigo) ;
Caballé, Jordi (Universitat Autònoma de Barcelona) ;
Raurich, Xavier (Universitat de Barcelona)
In this paper, we characterize the relationship between the initial distribution of human capital and physical inheritances among individuals and the long-run distribution of these two variables. In a model with indivisible investment in education, we analyze how the initial distribution of income determines the posterior intergenerational mobility in human capital and the evolution of intragenerational income inequality. [...]
Barcelona: Barcelona GSE Graduate school of economics, 2009 (GSE working paper 387)
Barcelona GSE graduate school of economics Working Papers, 2009
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36 p, 403.4 KB |
Intergenerational mobility under education-effort complementarity
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Alonso Carrera, Jaime (Universidad de Vigo) ;
Caballé, Jordi (Universitat Autònoma de Barcelona) ;
Raurich, Xavier (Universitat de Barcelona)
In this paper, we build a model that, according to the empirical evidence, gives raise to oscillations in wealth within a dynasty while keeping intergenerational persistence in education attainment. The mechanism that we propose is based on the interaction between effort and wealth suggested by the Carnegie effect, according to which wealthier individuals make less effort than the poorer. [...]
Barcelona : Barcelona GSE, 2016 (GSE working paper; 905)
Barcelona GSE Graduate School of Economics Working Paper, 2016
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