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Schoonbroodt, Alice; Tertilt, Michèle - C.E.P.R. Discussion Papers - 2010

to children. Using the efficiency concepts proposed in Golosov, Jones and Tertilt (2007), we find that whenever the … standard OLG models with exogenous fertility and Millian efficiency in models with endogenous fertility. In particular, we show … that the usual conditions for efficiency are no longer sufficient. Further, we analyze several government policies in this …

Persistent link: https://www.econbiz.de/10008468613

Maximum Sustainable Government Debt in the Overlapping Generations Model

Rankin, Neil; Roffia, Barbara - C.E.P.R. Discussion Papers - 1999

The theoretical determinants of maximum sustainable government debt are investigated using Diamond's overlapping-generations model. A level of debt is defined to be 'sustainable' if a steady state with non-degenerate values of economic variables exists. We show that a maximum sustainable level...

Persistent link: https://www.econbiz.de/10005504759

Minimum Wages: Curse or Blessing?

Ravn, Morten O; Sorensen, Jan Rose - C.E.P.R. Discussion Papers - 1995

In this paper we consider the effects of minimum wage legislation in an overlapping generations model. In our model there is an intergenerational externality in the accumulation of human capital since the production of human capital of every new generation depends positively on the average human...

Persistent link: https://www.econbiz.de/10005789188

Commercial Policy and Dynamic Adjustment Under Monopolistic Competition

Keuschnigg, Christian; Kohler, Wilhelm K. - C.E.P.R. Discussion Papers - 1994

by forward-looking investors and production under monopolistic competition and increasing returns to scale. The model …. The expansionary effects and the welfare increases get magnified under monopolistic competition when compared with a more … competitive case. Although all generations are able to participate in the efficiency gains, we note uneven generational gains …

Persistent link: https://www.econbiz.de/10005789199

Information Technology and the Knowledge Elites

Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 2001

competition among workers specialized in knowledge production. Those who lose in such competition end up displaced to occupations … skilled, which tends to increase inequality. The least skilled do not participate in this competition, as they are not …

Persistent link: https://www.econbiz.de/10005791349

Political Institutions, Environmental Policy and Growth

Marsiliani, Laura; Renström, Thomas I - C.E.P.R. Discussion Papers - 2004

We analyse the impact of micro-founded political institutions on environmental policy and economic growth. We model an overlapping-generations economy, where individuals differ in preferences over the environment (as well as in age). Labour taxation and capital taxation is used to finance a...

Persistent link: https://www.econbiz.de/10005791516

Money and Growth Revisited

Alogoskoufis, George; van der Ploeg, Frederick - C.E.P.R. Discussion Papers - 1991

The Ramsey-Romer model of endogenous growth is extended to allow for holdings of real money balances and government debt as well as capital and for non-interconnected generations of households. Tax-financed increases in government consumption and debt depress growth prospects and boost...

Persistent link: https://www.econbiz.de/10005791620

The Economics of Human Cloning

Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 2001

In this Paper, we analyse 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...

Persistent link: https://www.econbiz.de/10005792154

Pension systems, Intergenerational Risk Sharing and Inflation

Beetsma, Roel; Bovenberg, A Lans - C.E.P.R. Discussion Papers - 2007

We investigate intergenerational risk sharing in two-pillar pension systems with a pay-as-you-go pillar and a funded pillar. We consider shocks in productivity, depreciation of capital and inflation. The funded pension pillar can be either defined contribution or defined benefit, with benefits...

Persistent link: https://www.econbiz.de/10005497820

Housing Market Dynamics: On the Contribution of Income Shocks and Credit Constraints

Ortalo-Magné, François; Rady, Sven - C.E.P.R. Discussion Papers - 2001

This Paper presents a dynamic theory of housing market fluctuations. It develops a life-cycle model where households …

Persistent link: https://www.econbiz.de/10005498172