We consider a two-period overlapping generations model in which individual voters differ by age and by productivity. In such a setting, a redistributive Pay-As-You-Go system is politically sustainable, even when the interest rate is larger than the rate of population growth. The workers with...

The EU has argued that some agricultural subsidies are needed to provide the optimal amount of externalities (both positive and negative) produced by agriculture. The argument is that agriculture is "multifunctional" and externalities such as rural development and landscape would be...

We consider a two-period overlapping generations model in which individual voters differ not only according to age but also productivity. In such a setting, a (redistributive) Pay-As-You-Go system is politically sustainable, even when the interest rate is larger than the rate of population...

We consider social insurance schemes with a two-part benefit formula: a flat (constant) term and a variable term which is proportional to individuals' contributions. The factor of proportionality defines the type of social insurance. We adopt a two-stage political economy approach. At the first,...

We consider a two-period overlapping generations model in which individual voters differ by age and by productivity. In such a setting, a redistributive Pay-As-You-Go system is politically sustainable, even when the interest rate is larger than the rate of population growth. The workers with...

[fre] L'objectif de cet article est d'expliquer, dans le contexte actuel de vieillissement de la population, pourquoi les retraités arrivent à maintenir des niveaux de retraite élevés. L'argument développé repose sur le fait que le processus politique est essentiellement multidimensionnel....

[fre] Un modèle de citoyens-candidats en information asymétrique. . Cet article propose une extension en information asymétrique du modèle de citoyens-candidats développé par Osborne-Slivinsky [1996]. Nous montrons que l'introduction d'information asymétrique sur les goûts des agents...