Intertemporal Equilibrium and the Transfer Paradox
证明在只有两个国家的动态稳定跨期竞争均衡中，转移支付可能使受援国变穷、捐助国变富，并在偏离黄金律时实现帕累托改进。
The transfer paradox may occur in a world with only two countries at a dynamically stable intertemporal competitive equilibrium. In a framework of overlapping generations with production and investment, a transfer of income may immiserize the recipient while enriching the donor. Away from the golden rule, a transfer may result in a Pareto improvement.