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How America went bankrupt and how we can save ourselves--as a country and as individuals--from economic disaster.

Budget deficits -- United States. --- Fiscal policy -- United States. --- Generational accounting -- United States. --- United States -- Economic conditions -- 21st century. --- Budget deficits --- Generational accounting --- Fiscal policy --- Business & Economics --- Economic History --- United States --- Economic conditions --- Generational accounts --- Finance, Public --- Accounting --- E-books --- 330.973

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Provides an in-depth treatment of the overlapping generations model in economics incorporating production. Chapter 1 investigates competitive equilibria and corresponding dynamics: existence and uniqueness of equilibrium, global dynamics of capital (including poverty traps), and various extensions of the model. Chapter 2 analyzes the optimality of allocations in this framework, using both the value function and marginal approaches. Optimality with unbounded growth is also analyzed. Policy issues including the Second Welfare Theorem, pensions, government spending, and optimal taxation, are discussed in chapter 3. The notion of public debt is introduced in chapter 4 and the sustainability of policies with budget deficits/surpluses is examined. The last chapter presents extensions of the model including altruism, education/human capital, and habit formation. Methodological emphasis is put on using general preferences and technologies, on the global study of dynamic aspects of the model, and on furnishing adequate tools to analyze policies involving inter-generational transfers.

Macroeconomics --- Economic development --- Economic policy --- Generational accounting --- AA / International- internationaal --- 304.4 --- 338.8 --- 331.04 --- 304.2 --- Cyclische veranderingen. --- Economische groei. --- Langdurige bewegingen. --- Trendanalyse. Tendenties van lange duur. --- Economic policy. --- Macroeconomics. --- Economic Theory --- Business & Economics --- 330.35 --- 338.22 --- Generational accounts --- Finance, Public --- Economic nationalism --- Economic planning --- National planning --- State planning --- Economics --- Planning --- National security --- Social policy --- Development, Economic --- Economic growth --- Growth, Economic --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Economische groei. Kwantitatieve toename. Technische vooruitgang --zie ook {338.09} --- Economische organisatieleer. Economisch beleid. Economische politiek --- Accounting --- Economic development. --- Generational accounting. --- Business, Economy and Management --- 339 --- 338.22 Economische organisatieleer. Economisch beleid. Economische politiek --- 330.35 Economische groei. Kwantitatieve toename. Technische vooruitgang --zie ook {338.09} --- Trendanalyse. Tendenties van lange duur --- Cyclische veranderingen --- Langdurige bewegingen --- Economische groei --- Développement économique --- Histoire économique --- Macroéconomie --- Politique économique --- Développement économique --- Histoire économique --- Macroéconomie --- Politique économique