Econ Papers Daily / 期刊论文
异质性耐心、人口增长与财富积累
Heterogeneous patience, population growth, and wealth accumulation
摘要
We study a neoclassical growth model with population growth and heterogeneous agents. The model can be interpreted as either a Ramsey model with heterogeneous discounting and entry of new agents with zero endowments or an OLG model with infinitely-lived agents with different discount factors. We prove that, in the unique stationary equilibrium, agents other than the most patient may hold capital. Introducing public debt, a labor income tax, or a capital subsidy allows more agent types to save, reducing inequality among agents with different discount factors while increasing inequality among agents with the same discount factor entered in different periods.
中文摘要
我们研究一个包含人口增长和异质性主体的新古典增长模型。该模型既可以解释为具有异质性贴现以及零禀赋新主体进入的拉姆齐模型，也可以解释为具有不同贴现因子的无限期存活主体的世代交叠模型。我们证明，在唯一平稳均衡中，除最有耐心者之外的主体也可能持有资本。引入公共债务、劳动所得税或资本补贴，会使更多类型的主体进行储蓄，从而缩小不同贴现因子主体之间的不平等，同时加剧具有相同贴现因子但在不同时期进入的主体之间的不平等。