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- Working Paper
This paper extends the heterogeneous agent overlapping generations model with bequests in Nishiyama (2000) by adding two-way intergenerational altruism and inter vivos transfers.
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The Long-Term Budget Outlook
- Working Paper
This paper extends a heterogeneous agent overlapping generations model by implementing bequests and measures the degrees of time preference and parental altruism through the calibration of the model to the U.S. economy.
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The Budget and Economic Outlook: An Update