<研究>世代内公正,世代間公正と黄金律成長

概要

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Income equalization policies increase a social welfare, the sum of individual utilities, in a static framework without work disincentives. On the other hand, in the Samuelson (1964)'s pure consumption-loan model, which is one of the most typical dynamic frameworks, a social welfare on the steady state is maximized at the "golden-rule" growth (under which the interest rate is equal to the rate of population growth). This paper examines how the income equalization policies affect an attainability of the steady state golden-rule growth path in the pure consumption-loan model. This pure consumption-loan model includes the income difference between the same generations. If the time preference rate of the high-income household is larger than that of the low-income one, income equalization between the same generations decreases the possibility that the economy converges to the golden-rule growth path. Income equalization between the young generation and the old generation always lowers that possibility. The desirable policies in a statics may have negative effects in a dynamics.
関西学院大学の論文