The purpose of this paper is to improve our understanding of government solvency in OLG models with a given sequence of government expenditures. In our view, public debt is allowed if its level does not preclude the existence of a competitive equilibrium. We first consider the case where the...

This paper studies macroeconomic consequences of the development of pension funds, assuming they hold a significant share of capital assets. We assume that this concentration introduces imperfect competition, that lowers wages and increases capital return. We show that pension funds tend to...

[fre] Qualité des biens, croissance et cycle du produit dans un modèle à générations imbriquées. . L'article présente un modèle de croissance endogène, dans le cadre d'un modèle à générations imbriquées. La croissance vient de l'activité de recherche des firmes, activité qui leur...

[fre] Cash-in-advance constraints in the overlapping generations model : neutrality of monetary policies and macro-dynamics. . This article is concerned with the role of money in an O.L.G. model. Money is introduced through a cash-in-advance constraint. We show that money is super-neutral if the...