This article surveys models of endogenous growth which are based on the microeconomic theory of family behaviour. A special emphasis is placed on the suggested formalization of the preferences, demographic behaviour, investment in human capital, production technology, labour market, and...

We model PAYG social security systems as the outcome of majority voting within a OLG model with production. When voting, individuals make two choices: pay the elderly their pensions or default. which amount to promise themselves next period. Under general circumstances, there exist equilibria...

In this paper, we analyze the extent to which market forces create an incentive for cloning human beings. We show that a market for cloning arises if a large enough fraction of the clone’s income can be appropriated by its model. Only people with the highest ability are cloned, while people at...

This paper examines the implications of intergenerational transfers of time and money for labor supply and capital accumulation.