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dc.contributor.authorAndersen, Jørgen Juel
dc.date.accessioned2012-05-10T09:03:19Z
dc.date.available2013-04-15T23:00:19Z
dc.date.issued2013
dc.identifier.issn1466-4283 (e-utg)
dc.identifier.urihttp://hdl.handle.net/11250/93472
dc.descriptionThis is the author’s final, accepted and refereed manuscript to the articleno_NO
dc.description.abstractGovernments in resource abundant economies face a tradeo¤ between transferring wealth to present generations and saving for future generations. Employing an overlapping genera- tions framework with endogenous growth, this paper analyzes the intergenerational welfare e¤ects of: (1) a wealth transfer policy where the entire wealth is transferred to the gen- erations alive at present; (2) an income transfer policy where the wealth is saved and the permanent income of the wealth is transferred to all present and future generations, forever. Not surprisingly, present generations are unambiguously better o¤ with the wealth transfer policy. Less trivially, however, the wealth transfer policy can be associated with higher wel- fare also for future generations. The intuition for this result is that while a wealth transfer depresses growth only in the periods subsequent to the transfer, income transfers constitute a permanent drag on growth. Perhaps counter to the naïve intuition, the policy of saving the wealth and distributing the permanent income to all present and future generations is less bene cial for the future generations if the real return to saving is highno_NO
dc.language.isoengno_NO
dc.publisherTaylor and Francisno_NO
dc.subjectDutch diseaseno_NO
dc.subjectGrowthno_NO
dc.subjectResource wealthno_NO
dc.subjectTransfer policyno_NO
dc.subjectIntergenerational welfare allocationno_NO
dc.titleThe Dutch disease and intergenerational welfareno_NO
dc.typeJournal articleno_NO
dc.typePeer reviewedno_NO
dc.source.pagenumber465-476no_NO
dc.source.volume45no_NO
dc.source.journalApplied Economicsno_NO
dc.source.issue4no_NO
dc.identifier.doihttp://dx.doi.org/10.1080/00036846.2011.605762


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