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On sustainable pay as you go systems
Demange, Gabrielle - HAL - 2005
An unfunded Social Security system faces the major risk, sometimes referred to as "political risk", that future … generations modify or even suppress the contributions. In order to account properly for this risk, the paper considers a political … the economy. The impact of various factors -intra-generational redistribution, risk aversion, financial markets …
Persistent link: https://www.econbiz.de/10010739137
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When nature rebels: international migration, climate change and inequality
Marchiori, Luca; Schumacher, Ingmar - HAL - 2009
This article analyzes the link between climate change and international migration. We use a two-country overlapping generations model with endogenous climate change, in which the production in the North generates climate change which negatively affects the productivity of the South. Our main...
Persistent link: https://www.econbiz.de/10008793579
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ON THE IMPLICATION OF ENVIRONMENTAL POLICY ON GROWTH IN AN OLG MODEL WITH POLLUTION PERMITS AND IRREVERSIBLE POLLUTION
Jean-Marie, Alain; Prieur, Fabien; Tidball, Mabel - HAL - 2007
This paper develops an OLG model with emissions arising from production and potential irreversible pollution. Pollution control goes through a system of permits and private agents can also maintain the environment. In this setting, we prove that there exist multiple equilibria. Due to the...
Persistent link: https://www.econbiz.de/10008793631
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Debt, deficits and finite horizons: the stochastic case
Farmer, Roger E.A.; Nourry, Carine; Venditti, Alain - HAL - 2009
We introduce aggregate uncertainty and complete markets into Blanchard's (1985) perpetual youth model. We show how to construct a simple formula for the pricing kernel in terms of observable aggregate variables. We study a pure trade version of our model and we show it behaves much like the...
Persistent link: https://www.econbiz.de/10008794183
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Optimal Assignment of Durable Objects to Successive Agents
Bloch, Francis; Houy, Nicolas - HAL - 2009
This paper analyzes the assignment of durable objects to successive generations of agents who live for two periods. The optimal assignment rule is stationary, favors old agents and is determined by a selectivity function which satisfies an iterative functional differential equation. More patient...
Persistent link: https://www.econbiz.de/10008794777
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On optimality in intergenerational risk sharing
Demange, Gabrielle - HAL - 2001
(land) and sequentially complete markets, the intervention of a government may be justified, but only to improve risk …
Persistent link: https://www.econbiz.de/10008923109
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Abatement technology and the environment-growth nexus with education
Pautrel, Xavier - HAL - 2011
This article challenges the conventional result that a tighter environmental tax has no long-run effect on human capital accumulation in the presence of pollution arising from final output production. It demonstrates that the technology used in the abatement sector determines the existence and...
Persistent link: https://www.econbiz.de/10008855841
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Implementing steady state efficiency in overlapping generations economies with environmental externalities
Dao, Nguyen Thang; Davila, Julio - HAL - 2010
We consider in this paper overlapping generations economies with polution resulting from both consumption and production. The competitive equilibrium steady state is compared to the optimal steady state from the social planner's viewpoint. We show that any competitive equilibrium steady state...
Persistent link: https://www.econbiz.de/10010605325
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Fair Intergenerational Sharing of a Natural Resource
D'Albis, Hippolyte; Ambec, Stefan - HAL - 2010
In this article, overlapping generations are extracting a natural resource over an infinite future. We examine the fair allocation of resource and compensations among generations. Fairness is defined by core lower bounds and aspiration upper bounds. The core lower bounds require that every...
Persistent link: https://www.econbiz.de/10009322910
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Vieillissement de la population en Italie et efficacité des réformes Amato et Dini : un modèle d'équilibre général à générations imbriquées
Magnani, Riccardo - HAL - 2006
L'objectif de ce papier est d'analyser les impacts du vieillissement de la population italienne sur le système économique et en particulier sur le système de retraite afin d'évaluer l'efficacité des réformes mises en place durant les années 90 (réforme Amato en 1992 et réforme Dini en...
Persistent link: https://www.econbiz.de/10009323943