We study the sustainability of pension systems using a life-cycle model with distortionary taxation that sets an upper limit to the real value of tax revenues. This limit implies an endogenous threshold dependency ratio, i.e. a point in the cross-section distribution of the population beyond...

"This very timely and important collection draws together some of the world's leading thinkers on environment and development to debate one of the most important issues of our time: sustainable development. They very usefully remind us all that in order to be politically sustainable, the...