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...

Der vorliegende Beitrag liefert eine normative Betrachtung der Auswirkungen intergenerationeller Transfers in Form von umlagefinanzierten Altersrenten in Ökonomien mit endogen bestimmtem Wirtschaftswachstum. Zunächst wird intergenerationellen Transfers eine allokative Rolle zugewiesen. Diese...

This paper considers an optimal income tax cum higher education policy. It shows that in the presence of an optimal income tax system higher education should be taxed rather than subsidized. Furthermore, income taxes should become less progressive when an optimal higher education policy is...