Name
Abstract | ||
|---|---|---|
This paper considers a three-overlapping-generations model of endogenous growth wherein human capital is the engine of growth. It first contrasts the laissez-faire and the optimal solutions. Three possible accumulation regimes are distinguished. Then it discusses a standard set of tax-transfer instruments that allow for decentralization of the social optimum. Within the limits of our model, the rationale for the standard pattern of intergenerational transfers (the working-aged financing the education of the young and the pension of the old) is seriously questioned. On pure efficiency grounds, the case for generous public pensions is rather weak. |
Year | DOI | Venue |
|---|---|---|
2007 | 10.1016/j.jet.2006.03.008 | Journal of Economic Theory |
Keywords | DocType | Volume |
D90,H21,H52 | Journal | 134 |
Issue | ISSN | Citations |
1 | 0022-0531 | 4 |
PageRank | References | Authors |
1.23 | 0 | 3 |
Name | Order | Citations | PageRank |
|---|---|---|---|
| Frédéric Docquier | 1 | 4 | 1.23 |
| Oliver Paddison | 2 | 4 | 1.23 |
| Pierre Pestieau | 3 | 9 | 3.75 |