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Tsuyoshi Shinozaki
''The Transfer Paradox In a Two-Sector Overlapping Generatoins Model: The Duality Approach''
( 2007, Vol. 6 No.10 )
In this paper, we apply the duality approach, which is generally used in a static framework, to a two-sector overlapping generations model. Applying the duality approach enables one to determine clearly the welfare effects of a transfer and to explain how the transfer paradox might occur. Especially, we showed that whether the transfer paradox occurs depends on two effects: the dynamic terms-of-trade effect and the capital accumulation effect.
F4 - Macroeconomic Aspects of International Trade and Finance: General
Manuscript Received : Oct 25 2006 Manuscript Accepted : Mar 26 2007

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