Departmental Bulletin Paper <論考> Intergenerational Redistribution and the Dynamics of Wealth Distribution (Speical Issue of the Faculty of Information Technology and Social Sciences ; Studies Presented to Prof. Yoshiharu Fujimoto Prof. Yutaka Nishiyama on Their Retirement)


66 ( 5 )  , pp.119 - 134 , 2016-01-15
Using an overlapping-generations model with an age-declining income profile, this paper examines how the intergenerational distribution of consumption, welfare and financial wealth evolves over time. Income redistribution from future generaions to the present generation either narrows or widens intergenerational gaps in consumption and welfare depending on the amount of outstanding public bonds. It is also shown that the position of individual financial wealth relative to the social average follows either a humped or monotonically increasing path.JEL Classification: D31, E62, H31.

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