This paper develops a model of inter vivos gifts and bequests in a setting of moral hazard and adverse selection. Altruistic parents do not perfectly know how much effort their children make to earn their living, nor do they know their true level of ability. Inter vivos gifts take place prior to...

This paper reviews the evidence on the impact of child care and maternal employment in the pre-school years on child outcomes. This topic has long been of interest to economists, developmental psychologists, and scholars from other disciplines, and has been the focus of increased attention in...

The age at which women become mothers has increased to an all time high in most European countries in the past decennia. This increase of age at first birth is the main explanatory variable for the rapid decrease in fertility in European countries which has occurred at different points of time...

In this paper we present a simple model of labour supply that is cast within the framework of an extended family. The model emphasizes a Ricardian division of labour whereby the specialization is solely driven by marginal productivity and value of time differentials. The empirical implications...

Despite similar levels of per capita income, education and technology, the development of labour income shares in OECD countries has displayed different patterns since 1960. The paper examines the role of demography in this regard. We first use a standard overlapping generations model to derive...

We investigate the consequences of population aging for long-run economic growth perspectives. Our framework incorporates endogenous growth models and semi-endogenous growth models as special cases. We show that (1) increases in longevity have a positive impact on per capita output growth, (2)...

Despite similar levels of per capita income, education and technology, the development of labour income shares in OECD countries has displayed different patterns since 1960. The paper examines the role of demography in this regard. We first use a standard overlapping generations model to derive...

We examine the effect of source-based capital taxation on capital accumulation in countries with endogenous fertility and free international capital mobility. When fertility is constant, a tax cut accelerates domestic capital accumulation through international arbitrage and exerts negative...

Options for reforming unfunded public pension schemes that are now being discussed all share the feature that the burden induced by demographic change would be shifted towards presently living and away from unborn generations. Existing models of the political economy of pension reform can not...