Empirical evidence suggests that parents who have themselves inherited from their own parents are more likely to leave an estate to their children even after controlling for income, wealth and education. This implies an indirect reciprocal behavior between three generations by transmitting the...

This paper investigates the relationship between life expectancy and economic growth in an overlapping generations model with family altruism where private and public investments in human capital of children are the engine of endogenous growth. Consistent with recent empirical evidence, our...

This paper investigates the relationship between economic growth and a fully funded social security system in an overlapping generations model with family altruism. It is shown that funded social security may harm growth if there are operative bequests within the family.