We consider a two-period overlapping generations model where agents face the uncertainty of intergenerational transfers from their children. To avoid this kind of risk, agents have an incentive to share the risk within the same generation. However, there exists an information asymmetry about the...

In this paper, we use a two-period overlapping generations model to examine the behavior of an economy that incorporates intergenerational transfers of time. In the first part, we describe the dynamics and steady state of the economy in which there is no government. We show that the rate of life...

This note develops a one-sector, two-period, overlapping generations model that incorporates endogenous labor-care choice. Care choice is modeled by allowing young agents to participate in the production of household health status. Using this model, we derive the steady-state equilibrium dynamics.