This paper develops a dynamic model wherin production generates pollution that is viewed as a public bad by consumers. There are two types of consumers: those who are altruist a la Barro-Becker and leave bequests to their children and those who are pure life-cyclers. Both types of consumers...

This paper addresses the issue of optimal population with two concerns: avoiding both the absolute repugnant solution that amounts to giving to an infinite number an infinitesimal amount and the marginal repugnant solution in which equilibrium consumption decreases with income. To avoid these...

This paper analyses the consequences of trust for the general equilibrium in an exchange economy. Trust is viewed as a gift of information which modifies the caracteristics of goods a la Stigler-Becker. The increase in utility due to the increase in information is modified by its consequences on...

Cet article etudie la question des permis de pollution dans le cadre d'un modele a generations imbriquees: la pollution resulte de l'utilisation de l'environnement dans le processus de production et constitue un externalite negative qui vient diminuer l'utilite des agents.

We adress the issue of optimal growth when standard-of-living aspirations are transmitted from one generation to the next. We derive the condition for the optimal solution to be stable in the saddle-point sense and show that this optimal solution may display damped oscillations even when the...

We analyze the effect of a constant debt policy on capital accumulation and provide an indepth treatment of the dynamics in the economy of Diamond. We derive the conditions for avoiding a debt crisis in both the short-run and the long-run and provide geometrical tools to analyze the issue of...

This paper constructs an overlapping generations model of pollution externality wherein individuals are altruistically linked to their offspring as in Barro (1974). It is shown that steady state consumption may be a decreasing function of the intergenerational degree of altruism. Despite...

The debate about whether culture should be subsidized or not is far from being recent, and though problems and approaches vary across countries, most governments are in favour of supporting the arts in one way or the other. The literature considers several arguments in favour of such subsidies....

L'objet de cet article est d'approfondir la question de la definition de la solvabilite de l'Etat. A la question, jusqu'où l'Etat peut-il s'endetter ? nous repondons que l'endettement public acceptable, ne conduisant pas à la faillite, est celui qui reste compatible avec un fonctionnement...