In this paper a simple dynastic overlapping-generations model with homogeneous agents is used to analyze the optimal use of capital income tax, labor income tax and estate tax. The results of this analysis add to the conventional wisdom about capital income taxation: while it is true that in the...

We estimate auto accident externalities (more specifically insurance externalities) using panel data on state-average insurance premiums and loss costs. Externalities appear to be substantial in traffic dense states: in California, for example, we find that a typical additional driver increases...

The purpose of this paper is to compare the different levels of tax rates on the use of the labour force in a range of OECD countries, using the methodology of effective marginal tax rates. Results for the United Kingdom, Australia, Sweden, France, Germany, Italy, Portugal, Japan, the United...

In the very general setting of Armstrong (1980) for Arrow's Theorem, I show two results. First, in an infinite society, Anonymity is inconsistent with Unanimity and Independence if and only if a domain for social welfare functions satisfies a modest condition of richness. While Arrow's axioms...

In this paper, we investigate the consequences of the rise in educational attainment on the US generational accounts. We build on the 1995 accounts of Gokhale and al. (1999) and disaggregate them per schooling level. We show that low skill newborns are characterized by a negative generational...

There is a secret paradox at the heart of social contract theories. Such theories assume that, because personal security and private property are at risk in a state of nature, subjects will agree to grant Leviathan a monopoly of violence. But what is to prevent Leviathan from turning on his...

In earlier literature, the suggested Pareto improvements in pay-as-you- go (PAYG) systems have relied on the presence of externalities or the possibility of intragenerational redistribution. We show that neither assumption is necessary in an economy with intergenerational trade in a fixed factor...

Electoral constituencies recognize favorable policy outcomes in high- turnout jurisdictions (Key 1984 [1949]; Hamilton 1993; Fleck 1999). In the present paper, I evaluate whether underlying institutions might provide a finer explanation of this relationship. To do so, I formally examine variation in...

The objective of this work is to analyse the income inequality in the 15 EU countries during the convergence process to the Monetary Union. Using the information contained in the European Community Household Panel, corresponding to the four first waves. Using the inverse second order stochastic...