Immiserizing Growth in Diamond's Overlapping Generations Model: A Geometrical Exposition
用简单图示方法分析戴蒙德世代交叠模型的帕累托福利，发现经济动态无效率时节约资本的技术进步可能使所有世代变差，而动态有效时技术进步总让部分世代变好。
The welfare analysis of P. A. Diamond's overlapping generations model is often restricted to a steady-state comparison. This paper demonstrates that a simple diagrammatic technique is useful for a Pareto welfare analysis. In particular, it shows that capital saving technological progress could make all generations (including those which level during the transition period) worse off whenever the economy is dynamic inefficient. On the other hand, technological progress always makes some generations better off when the economy is dynamic efficient. Copyright 1991 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.