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Gonzalez-Eiras, Martin; Niepelt, Dirk - Society for Economic Dynamics - SED - 2004

We analyze the sustainability of intergenerational transfers in politico-economic equilibrium. We argue that these transfers naturally arise in a Markov perfect equilibrium in the fundamental state variables. In contrast to earlier literature, our explanation does not resort to altruism,...

Persistent link: https://www.econbiz.de/10005069502

Intergenerational Politics, Government Debt and Economic Growth

Ono, Tetsuo - Graduate School of Economics, Osaka University - 2014

This paper develops a two-period overlapping-generations model featuring en- dogenous growth and intergenerational conflict over fiscal policy. In particular, the paper characterizes a Markov-perfect political equilibrium of the voting game be- tween generations, and shows the following results....

Persistent link: https://www.econbiz.de/10011120424

Can education be good for both growth and the environment?

BRECHET, Thierry; PRIEUR, Fabien - Center for Operations Research and Econometrics (CORE), … - 2009

We develop an overlapping generations model of growth and the environment with public policy on education. Beyond the traditional mechanisms through which knowledge, growth and the environment interplay, we stress out the role played by education on environmental awareness. Assuming first that...

Persistent link: https://www.econbiz.de/10008550240

The Role of Rents to Human Capital in Economic Development

Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 1994

In an overlapping generations model, rents to human capital play a key role in increasing savings. In the absence of such rents, the return to human capital is entirely appropriated by the old and accumulation is entirely determined by the income to fixed factors. If rents are introduced by...

Persistent link: https://www.econbiz.de/10005662008

Pensions and fertility: in search of a link

Gahvari, Firouz - In: International Tax and Public Finance 16 (2009) 4, pp. 418-442

In overlapping generations models with endogenous fertility wherein the retired partake of consumption but do not … contribute to production (through their labor), fertility has a positive and a negative externality. These can be internalized … crucially on the assumption that no parents are better than others in raising their children and that fertility can be perfectly …

Persistent link: https://www.econbiz.de/10010865740

On sustainable pay as you go systems

Demange, Gabrielle - HAL - 2005

An unfunded Social Security system faces the major risk, sometimes referred to as "political risk", that future generations modify or even suppress the contributions. In order to account properly for this risk, the paper considers a political process in which the support to the system is asked...

Persistent link: https://www.econbiz.de/10010739137

On Sustainable Pay-As-You-Go Systems

Demange, Gabrielle - C.E.P.R. Discussion Papers - 2005

An unfunded Social Security system faces a major risk, sometimes referred to as ‘political risk’. In order to account properly for this risk, the paper considers a political process in which the support to the system is asked from each newborn generation. The analysis is conducted in an...

Persistent link: https://www.econbiz.de/10005666926

Social Security and Demographic Trends: Theory and Evidence from the International Experience

Ehrlich, Isaac; Kim, Jinyoung - In: Review of Economic Dynamics 10 (2007) 1, pp. 55-77

that social security taxes and benefits generate incentives to reduce both family formation and fertility, and that these … measures account for a non-trivial part of the downward trends in family formation and fertility worldwide, especially in OECD …

Persistent link: https://www.econbiz.de/10005027322

INTERGENERATIONAL EQUITY AND THE DISCOUNT RATE FOR POLICY ANALYSIS

Mertens, Jean-Francois; Rubinchik, Anna - Department of Economics, University of Haifa

For two independent principles of intergenerational equity, the implied discount rate equals the growth rate of real per capita income, say, 2%, thus falling right into the range suggested by the U.S. Office of Management and Budget. To prove this, we develop a simple tool to evaluate small...

Persistent link: https://www.econbiz.de/10009294162

Trading off generations: infinitely lived agent versus OLG

Schneider, Maik T.; Traeger, Christian P.; Winkler, Ralph - Department of Agricultural and Resource Economics, … - 2007

The prevailing literature discusses intergenerational trade-offs in climatechange predominantly in terms of the Ramsey equation relying on the infinitelylived agent model. We discuss these trade-offs in a continuous time OLG framework and relate our results to the infinitely lived agent setting....

Persistent link: https://www.econbiz.de/10009646060

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