This note exhibits sufficient conditions concerning the skills of old workers ruling out overaccumulation stationnary equilibria in an OLG model with productive capital.

This paper provides necessary and sufficient conditions for input (or output) aggregation of efficiency indices. As such it parallels earlier arguments in the capital aggregation literature. The resulting quantity-dependent indices provide a rationalisation of the Debreu/Farrell efficiency...

This paper qualifies Weil [1989]'s according to which dynamic efficiency may fail when agents are infinitely-lived, but "disconnected" from previous ones. It is shown that finite horizons matter in the following sense: if dynamic inefficiency results when the agents have infinite horizons, then...

In economic two players games with negative (positive) spillovers it is well-known that symmetric agents both overact (underact) at the Nash Equilibria. We show that for heterogeneous agents this rule has to be amended if the game features strategic substituability.

We propose the concept of a universal social ordering, defined on the set of pairs of an allocation and a preference profile of any finite population. It is meant to unify evaluations and comparisons of social states with populations of possibly different sizes with various characteristics. The...

An early death is, undoubtedly, a serious disadvantage. However, the compensation of short-lived individuals has remained so far largely unexplored, probably because it appears infeasible. Indeed, short-lived agents can hardly be identified ex ante, and cannot be compensated ex post. We argue...

This paper provides a normative appraisal of the Canadian equalization transfers system. For that sake, the two-dimensional dominance criteria introduced by Atkinson and Bourguignon(RES, 1982) are used to compare the distributions of private and public good before and after equalization...

Considering an economy with two goods {a private good and a household good with a variable degree of publicness {and identical individuals, the paper investigates the implications for economies of size of two extreme households' decision rules: (i) the cooperative model, where households...

In a model where agents have unequal skills and heterogeneous preferences about consumption goods and leisure, this paper studies how to combine linear commodity taxes and non-linear income tax. It proposes a particular social welfare function on the basis of fairness principles. It then derives...

We draw some lessons from the Tunisian experience of social reforms and associated unrest. Our main interest is the riots that occurred after subsidy cuts and the attempts at substitution of price subsidies by direct cash transfers. We propose new welfare indicators to assess reforms in such...