Investment efficiency and intergenerational income distribution: A paradoxical result

Akiomi Kitagawa, Ryo Horii, Koichi Futagami

Research output: Contribution to journalArticlepeer-review

Abstract

Using a simple overlapping generations model, this note shows that an improvement in the efficiency of human capital investment decreases the net income of the young household while increasing that of the old. Without compensating redistribution, it deteriorates lifetime utilities of all generations except for the initial old households.

Original languageEnglish
JournalEconomics Bulletin
Volume15
Issue number1
Publication statusPublished - 2004

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)

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