In a stochastic economy with overlapping generations, fiscal policy affects the allocation of aggregate risks. The paper shows how to compute the welfare effects of marginal policy changes that shift risk across cohorts, in general and for an application to social security equity investments. I...

The concept of Corporate Social Responsibility (CSR) is not new. Over the course of time, many entrepreneurs have created and developed companies, with a strong sense of ethical and social responsibility. This paper presents an example of how CSR was conceived and put into practice when Caja de...

When Caja de Pensiones para la Vejez y de Ahorros, 'la Caixa', was created in 1905, it was not just a transient response to a serious social, political, and economic problem; it also provided a permanent solution by creating a long-lasting social welfare institution. In addition, its founder...