-as-you-go pension systems when population ages. When the fertility rate decreases or longevity rises, it is shown that a shift from …

, ceteris paribus, reduces the aggregate capital stock as well as the average consumption level of all individuals except the … private consumption of all the young and the wealthy retirees although it does reduce the average consumption and uncertainty …

genetic background, and where longevity depends on health spending and genes. It is shown that, if agents internalize … imperfectly the impact of genes and health spending on longevity, the utilitarian social optimum can be decentralized with type … the production of longevity. …

This paper aims at investigating whether or not a utilitarian social planner should subsidize longevity … large. Moreover, the optimal health subsidy is also shown to depend significantly on the longevity production process and on …

Whereas existing OLG models with endogenous longevity neglect the impact of environmental quality on mortality, this … paper studies the design of the optimal public intervention in a two-period OLG model where longevity is influenced …

where longevity is endogenous. It is shown that the capital per worker maximizing steady-state consumption per head is … inferior to the Golden Rule capital level prevailing under exogenous longevity. We characterize also the Lifetime Golden Rule …, that is, the capital per worker maximizing steady-state expected lifetime consumption per head, and show that this tends to …

out by encouraging early consumption in the life cycle. In a model with heterogeneous preferences and longevities, we show …