What is the Natural Weight of the Current Old ?

We consider a simple overlapping generations model with an externality `a la Arrow-Romer. A government with the power to tax wishes to maximize the utility of the agents alive in period 0, and possibly that of their children. Is there a natural relative weight for the utility of the current old ? We content that there is and show it is not 1.

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Authors:	GAUMONT, DAMIEN ; LEONARD, DANIEL
Institutions:	TEPP Fédération de Recherche Travail Emploi et Politiques Publiques
Subject:	Overlapping Generations Model \| Learning-by-doing \| Social Welfare

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Extent:	application/pdf
Series:	TEPP Working Paper.
Type of publication:	Book / Working Paper
Notes:	Number 2011-09
Classification:	E62 - Fiscal Policy; Public Expenditures, Investment, and Finance; Taxation ; H23 - Externalities; Redistributive Effects ; Environmental Taxes and Subsidies ; O40 - Economic Growth and Aggregate Productivity. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010571567