Purpose – The human development index (HDI) and gender‐related development index (GDI) have become accepted as leading measures for ranking human well being in different countries. The purpose of this paper is to identify the planning policies that improve these indices and to also suggest...

Purpose – The human development index (HDI) and gender-related development index (GDI) have become accepted as leading measures for ranking human well being in different countries. The purpose of this paper is to identify the planning policies that improve these indices and to also suggest...

We extend Diamond's (1965) OLG model to allow agents to choose whether to participate in the second period of life. The valuation of early exit (x) is a key parameter. We characterize competitive equilibria, efficient allocations, and predictions for income and life expectancy over time. We find...

The Human Development Index (HDI) is widely used as a measure of wellbeing. We examine the allocations implied by the maximization of this index using a standard growth model. Maximization leads to consumption (excluding education and health expenditures) being pushed to minimal levels. It also...

This note explores endogenous rivalrous money supply by different generations of an overlapping generations economy. Money (gold) is intrinsically useless but is costly to create. The authors show how a government representing the young has an incentive to tax its constituency to mine gold to...

We examine a search money model in which there is a symmetric coincidence of wants in all barter matches. However, when bargaining outcomes are asymmetric across matches, the barter economy is inefficient. Then a robust monetary equilibrium exists provided that money holders enjoy adequate...