Abstract We introduce endogenous probability of survival in the Keynes-Ramsey optimal growth model. An individual's probability of survival is assumed to be dependent on past levels of consumption. Endogenous probability of survival implies that the rate of time preference (or degree of...

We construct an overlapping generations model to study the effect of capital controls on human capital investments and the incidence of redistributive taxation in a growing economy. We argue that the conventional wisdom linking higher capital controls to lower growth is reproduced only when an...