This paper investigates the relationship between the size of an unfunded public pension system and economic growth in … argument of parental utility. Unfunded public pensions can promote growth when families face liquidity constraints preventing … there is no case for unfunded public pensions in economies where bequests are operative. By contrast, there exists a growth …

This paper examines interactions between education policy and growth. The analysis is carried out in an OLG model with …, increases the proportion of skilled individuals, and tends to promote growth. On the other hand, education spending crowds out … physical capital and reduces learning-by-doing. A marginal increase in the education subsidy can lower growth. It is yet shown …