This paper investigates optimal monetary policy in an overlapping-generations model with endogenous growth fueled by the accumulation of human capital and under a cash-in-advance constraint. We consider the case where the government finances public education fully by seigniorage. Three main...

This paper, incorporating public goods into a two-country Diamond overlapping generations model, shows the existence of a transfer paradox. Governments supply public goods, in addition to imposing a tax on workers and issuing government bonds. In the short-run, only a weak paradox can occur, but...

1. Declining Population Growth and the Serendipity Theorem -- 2. Consumption of Leisure Goods, Leisure Time, and Inheritance of Tastes for Leisure in an Overlapping Generations Model -- 3. Overlapping Generations Model with Relative Preference for Children's Human Capital -- 4. The Impact of...