In this paper we investigate the optimal scale of pay-as-you-go social security in a dynastic family model with human capital externalities, fertility and endogenous growth. Human capital externalities reduce the return to human capital investment and hence lead to under-investment in human...

Since the late 1970s, the received wisdom has been that government size (measured as the ratio of total government expenditure to gross domestic product (GDP) or government consumption to GDP) is detrimental to economic growth. We conduct a hierarchical meta‐regression analysis of 799...

We explore optimal health subsidies in a dynastic model with health externalities to productivity that cause low health spending, productivity, longevity, savings and labor but high fertility. Public or firms’ health subsidies increase health spending, longevity and productivity and decrease...