Our study employs an OLG model under which political strengths of different generations (the working and retirees with and without children) determine the distribution of the fiscal burden between the generations, including the future generation. We investigate the relationship between the...

In this study, we attempt to investigate how educational subsidy, childcare allowance, and family allowance affect economic growth and income distribution, on the basis of simulation models which incorporate intergenerational ability transmission and endogenous fertility. The simulation results...

We present a new version of the overtaking criterion, which we call generalized time-invariant overtaking. The generalized time-invariant overtaking criterion (on the space of infinite utility streams) is defined by extending proliferating sequences of complete and transitive binary relations...

In a seminal contribution, Hansson has demonstrated that the family of decisive coalitions associated with an Arrovian social welfare function forms an ultrafilter. If the population under consideration is infinite, his result implies the existence of nondictatorial social welfare functions. He...

We analyze infinite-horizon choice functions within the setting of a simple technology. Efficiency and time consistency are characterized by stationary consumption and inheritance functions, as well as a transversality condition. In addition, we consider the equity axioms Suppes-Sen,...

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