In the presence of endogenous growth intergenerational transfer from the young to the old reduce per capita income growth and harm future generations. On the other hand, competitive equilibria are inefficient if externalities sustain long-run growth. This paper shows that if individuals retire...

Angesichts eines niedrigen Steueraufkommens bei gleichzeitig hohen Ausgabenerfordernissen in Ostdeutschland wurde im Jahre 1995 der sogenannte Solidarpakt geschlossen, der den ostdeutschen Ländern, befristet auf 10 Jahre, finanzielle Leistungen von Bund und westdeutschen Ländern in Höhe von...

Development economists have enjoined Africans to leverage on remittance as their main source of investment financing due to its constant and undisrupted inflows despite structural distortions and economic weaknesses compared to other sources of financial flows in recent time. This ignited the...