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Please use this identifier to cite or link to this item:
http://hdl.handle.net/2108/84
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| Title: | Intergenerational transfers, lifetime welfare and resource preservation |
| Authors: | Valente, Simone |
| Keywords: | distortionary taxation
intergenerational transfers
overlapping generation
renewable resources
sustainability |
| Issue Date: | 5-Feb-2005 |
| Publisher: | CEIS |
| Series/Report no.: | Quaderni CEIS
214 |
| Abstract: | This paper studies the welfare properties of distortionary transfers in a life-cycle growth model where natural capital is private property. The main result is that, under credible pre-commitment, each newborn generation prefers positive taxes-subsidies to laissez-faire conditions when the resource share in production is suffciently high. By increasing the degree of natural preservation, resource-saving policies raise welfare of all generations except that of the first resource owner, who su®ers a deadweight loss due to taxation of the initial stock. If the first owner renounces part of his claims over initial endowments, all successive generations support resource-saving policies for purely selfish reasons |
| URI: | http://hdl.handle.net/2108/84 |
| Appears in Collections: | Quaderni
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| 214 VALENTE SIMONE.pdf | | 264Kb | Adobe PDF | View/Open |
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