We describe a "business as usual" (BAU) economy in which pollution is a by-product of productive activity by the current generation but "damages" production for future generations. Over time, conditions in the BAU economy become dire: it gets increasingly polluted, consumption falls and...

Many countries face the problem of how to reform social security systems to cope with increasing life expectancy. This raises questions concerning both distribution and risk sharing across generations. These issues are addressed within an OLG model with stochastic life expectancy across...

Many countries face the problem of how to reform social security systems to cope with increasing life expectancy. This raises questions concerning both distribution and risk sharing across generations. These issues are addressed within an OLG model with stochastic life expectancy across...