We model a successive-generation economy in which parents, motivated by fam- ily altruism, decide to nance or not their o spring's capital accumulation on the basis of their altruistic motive, their own income and the equilibrium ratio between skilled-labor and unskilled-labor wages. The...

We model a successive-generation economy in which parents, motivated by family altruism, decide to finance or not their offspring's human capital accumulation on the basis of their altruistic motive, their own income and the equilibrium ratio between skilled labor and unskilled labor wages. The...

We assume a population of in nitely-lived households of the economy split into two groups : one with a high discount factor (the patient) and one with a low one (the impatient). The environmental quality is deteriorated by rm's polluting emissions. The governmen tal policy consists in proposing...