Economics - Research Publications

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Choosing longevity with overlapping generations

Chen, Weichun ; Engineer, Merwan ; KING, IAN ( 2007-09)

We extend Diamond’s (1965) OLG model to allow agents to choose whether toparticipate in the second period of life. The valuation of early exit (x) is a keyparameter. We characterize competitive equilibria, efficient allocations, andpredictions for income and life expectancy over time. We find that, with logarithmicutility, for any value of x, there is a range of initial values of the capital stock forwhich some agents would prefer to exit in equilibrium. The shape of the transitionfunction and the number of steady state equilibria depend crucially on the value ofcapital’s share of income.
Ex post bidding and efficient coordination unemployment

Julien, B ; Kennes, J ; King, I (WILEY, 2005-02-01)
A comment on Roland Benabou's "Tax and education policy in a heterogeneous-agent economy: What levels of redistribution maximize growth and efficiency?"

Tang, XL ; King, I (WILEY, 2005-05-01)
Economic progress and skill obsolescence with network effects

Kennedy, PW ; King, IP (Springer Science and Business Media LLC, 2005-07)
Residual wage disparity and coordination unemployment

Julien, B ; Kennes, J ; King, I (WILEY, 2006-08-01)
Bidding for money

Julien, B ; Kennes, J ; King, I (ACADEMIC PRESS INC ELSEVIER SCIENCE, 2008-09-01)