This paper addresses the issue of optimum population with two concerns : avoiding both the absolute repugnant solution that amounts to givingg to an infinite number an infinitesimal amount and the marginal repugnant solution in which equilibrium consumption decreases with income. To avoid these...

This paper examines the long-run behavior of an overlapping-generations model with a population consisting of altruistic and non-altruistic agents. It also studies the effect of fiscal policy on aggregate capital accumulation and on the welfare of both types of agents. It shows that an increase...

It is generally accepted that moving from an unfunded to a funded social security sys- tem implies a welfare loss for the transition generation, that is the generation that has to pay twice: first, saving for its own retirement and second, contributing to the pensions of the then retired...

This paper presents an overlapping generations model of growth with individuals differing in productivity and altruism. Within such a model wealth is entirely held in the steady-state by the families with the highest degree of altruism. We then look at the macroeconomic and distributive effects...

This paper explains why workers retire earlier, and earlier at the same time as society becomes more and more indebted through increasing pay-as-you-go pension liabilities. To do so, we extend the standard twooverlapping-generations growth model to allow for endogenous labor participation in the...

This paper analyzes the direction of optimal intergenerational transfers in a setting of endogenous growth à la Arrow-Romer. It shows that the case for ascending transfers such as implied by pay-as-you-go social security is rather weak. What is rather needed is a subsidy on interest income....

This paper considers a three-overlapping-generations model of endogeneous growth wherein human capital is the engine of growth. It first contrasts the laissez-faire and the optimality solutions. Then it discusses alternative sets of tax-transfer instruments that allow for decentralization of the...

This paper develops an intertemporal model wherein production generates pollution, which is viewed by consumers as a public bad. There are two types of consumer: those who are altruistic and leave bequests to their children, and those who are pure life-cyclers. Both types voluntarily contribute...

This paper analyzes the issue of income redistribution in a small economy in the process of opening itself to labor migration. It assumes that only full-fledged citizens benefit from redistribution and that it takes one period for a migrant to become a citizen. The degree of redistribution...

This Paper explores the effects of a menu of inter-generational fiscal policies (public debt financed by taxes, PAYG social security system and inheritance taxation) in an overlapping generations model with perfect altruism. It generalizes the model by Barro (1974) by introducing...