include an additional dimension of public policy, namely education funding. Indeed, the productivity growth of future workers …

that growth can be enhanced by the introduction of pay-as-you-go pensions even if the growth rate of aggregate wages falls … redistributive. This means that if a flat benefit PAYG pension system is in place then the economy will achieve the highest growth …

dynamic general equilibrium model with endogenous economic growth and heterogeneous overlapping generations. We calibrate the … model for the US economy. First, we establish that the net effect of a decline in population growth on the growth rate of … growth performance and for individual welfare. Third, we showthat the assessment of pension reform proposals may be different …

In most monetary models of economic growth, higher long-run inflation is associated with a decline in the growth rate …. We consider three types of endogenous growth models: 1) the AK-model, 2) the Lucas (1990) supply-side model, and 3) the … inflation results in lower growth and employment in all three models, while, in the cash-credit good economy of Dotsey and …