This paper investigates one of the most important financial issues arising from a secession or a country partitioning namely the sharing of the national public debt. Extending Drèze's distributive neutrality condition, we use the generational accounting technique and propose a dynamic...

This paper investigates one of the most important financial issues arising from a secession or a country partioning, namely the sharing of the national public debt. Extending Dreze's distributive neutrality condition, we use the generational accounting technique and propose a dynamic...

In this paper, we investigate the consequences of the rise in educational attainment on the US generational accounts. We build on the 1995 accounts of Gokhale et al. (1999) and disaggregate them per schooling level. We show that low skill newborns are characterized by a negative generational...

We investigate the balanced growth effects of pension plans on the rate of growth and on equalityin a closed economy where individual decisions about education are the engine of growth. We distinguish between pay-as-you-go and fully-funded pension systems and differentiate between three...

This paper quantitatively investigates the short- and long-run effects of liberalizing global migration on the world distribution of income. We develop and parametrize a dynamic model of the world economy with endogenous migration, fertility and education decisions. We identify bilateral...