{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2025,9,20]],"date-time":"2025-09-20T19:22:39Z","timestamp":1758396159248},"reference-count":20,"publisher":"Cambridge University Press (CUP)","issue":"8","license":[{"start":{"date-parts":[[2015,5,22]],"date-time":"2015-05-22T00:00:00Z","timestamp":1432252800000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/www.cambridge.org\/core\/terms"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Macroecon. Dynam."],"published-print":{"date-parts":[[2015,12]]},"abstract":"<jats:p>The main result is that the golden rule equilibrium (GRE) is Pareto optimal (in the classical sense) in an overlapping generations (OG) model with constant-returns-to-scale production, transfers, arbitrary life-time productivity and homogeneous instantaneous felicity. In addition, we extend Cass and Yaari's equivalence between efficiency (aggregate consumption dominance) and present value dominance (with evaluation made using a candidate equilibrium price path).<\/jats:p>","DOI":"10.1017\/s1365100514000108","type":"journal-article","created":{"date-parts":[[2015,5,22]],"date-time":"2015-05-22T01:37:58Z","timestamp":1432258678000},"page":"1780-1799","source":"Crossref","is-referenced-by-count":4,"title":["PARETO OPTIMALITY OF THE GOLDEN RULE EQUILIBRIUM IN AN OVERLAPPING GENERATIONS MODEL WITH PRODUCTION AND TRANSFERS"],"prefix":"10.1017","volume":"19","author":[{"given":"Jean-Fran\u00e7ois","family":"Mertens","sequence":"first","affiliation":[]},{"given":"Anna","family":"Rubinchik","sequence":"additional","affiliation":[]}],"member":"56","published-online":{"date-parts":[[2015,5,22]]},"reference":[{"key":"S1365100514000108_ref8","unstructured":"Cass D. 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