Over coming decades, changes in population age structure will have profound implications for the macroeconomy, influencing economic growth, generational equity, human capital, saving and investment, and the sustainability of public and private transfer systems. How the future unfolds will depend...

[eng] The Welfare State is generally thought to transfer resources from young and future generations to old ones. This opinion, however, is based on a narrow view of the transfer system that focuses on pensions and elderly-care programs. Our paper shows that taking downward educational transfers...

We study the role of alternative intertemporal preference representations in a model of economic growth, stock pollutant and endogenous risk of catastrophic collapse. We contrast the traditional “discounted utility” model, which assumes risk neutrality with respect to intertemporal utility,...

The Pareto principle is often viewed as a mild requirement compatible with a variety of value judgements. In particular, it is generally thought that it can accommodate different degress of inequality aversion. We show that this is generally not true in time consistent intertemporal models where...

We study the role of alternative intertemporal preference representations in a model of economic growth, stock pollutant and endogenous risk of catastrophic collapse. We contrast the traditional "discounted utility" model, which assumes risk neutrality with respect to intertemporal utility, with...

Le système public de retraite par répartition est un pilier de l'Etat Providence en France. Il se traduit par des transferts financiers des générations jeunes et actives vers les générations plus âgées et inactives. Lontgemps donné pour l'expression même de la solidarité entre...

We study the role of alternative intertemporal preference representations in a model of economic growth, stock pollutant and endogenous risk of catastrophic collapse. We contrast the traditional "discounted utility" model, which assumes risk neutrality with respect to intertemporal utility, with...