Growth Effects of Annuities and Government Transfers in Perpetual Youth Models

Published in Journal of Mathematical Economics, 2017

In 2015, I was working on a now dormant project with my student Yoshiyuki Miyoshi. When conducting numerical experiments, Yoshiyuki found that the economic growth rate paradoxically increases with government intervention. It turns out that it is because government transfers crowd out the annuity market. I found the result interesting, so we wrote a paper.

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