knowledge trans- mission. Fiscal policy affects growth in two respects: .rst, work time reacts to variations of prospective tax … capital through increased savings. It is shown that Ramsey-optimal policies reduce savings due to high tax rates on young … higher with respect to a private system, and there generally exists a continuum of non-optimal tax rates under which long …

This paper studies the problem of redistribution between individuals having different mortality rates. We use a …