Jobs and Chocolate: Samuelsonian Surpluses in Dynamic Models of Unemployment
在失业动态模型中证明,当就业者消费高于失业者且工人有限寿命时,就业将消费从后代转移给当代人,产生社会剩余,且最大化稳态产出的配置被更高就业水平的可行配置帕累托占优。
In dynamic models of unemployment in which the employed consume more than the unemployed, workers are finitely lived, and jobs are lasting, employment transfers consumption from future generations to those currently alive, resulting in a social surplus. That is, these transfers allow the current generation to consume more than its share of the output produced during its lifetime, without the increased consumption coming at the expense of future generations. Moreover, due to these intergenerational transfers, the allocation that maximizes steady-state output is Pareto dominated by another feasible allocation with a higher level of steady-state employment.