Time inconsistency of tax policy is shown to arise in a setting where households differ in their ability to accumulate wealth and where the government has redistributional objectives. It is assumed that wealth accumulation takes the form of human capital acquired through education. The...

This paper shows that public debt issue may be regressive given the following three conditions: that the number of children varies among families; that a bequest motive implies operative intergenerational transfers; and that debt finance of government expenditure postpones its actual payment to...

This paper explores the effects of a menu of intergenerational fiscal policies (public debt financed by taxes, PAYG social security system, inheritance taxation) in an overlapping-generations model with perfect altruism. It generalizes Barro's model by introducing intragenerational...

In this paper we study the optimal design of a long term care policy in a setting that includes three types of care to dependent parents: public nursing, private nursing and assistance in time by children. Private nursing can be financed either by financial aid from children or by private...

This paper develops an intertemporal model wherein production generates pollution, which is viewed by consumers as a public bad. There are two types of consumer: those who are altruistic and leave bequests to their children, and those who are pure life-cyclers. Both types voluntarily contribute...