Fanti, Luciano; Gori, Luca - In: Research in Economics 66 (2012) 1, pp. 65-71
An overlapping generation’s small open economy with endogenous fertility and time cost of children is analysed to show that the command optimum can be decentralised in a market setting using a PAYG transfer from the young to the old and a tax-cum-subsidy policy (i.e., a linear wage tax on...