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Education Policy and Intergenerational Transfers in Equilibrium

Abbott, Brant - 2013

We examine the equilibrium effects of college financial aid policies building an overlapping generations life cycle model with education, labor supply, and saving decisions. Cognitive and non-cognitive skills of children depend on parental education and skills, and affect education and labor...

Persistent link: https://www.econbiz.de/10013087058

The Dynamics of the Age Structure, Dependency, and Consumption

Hock, Heinrich; Weil, David N. - 2021

We examine the dynamic interaction of the population age structure, economic dependency, and fertility, paying … particular attention to the role of intergenerational transfers. In the short run, a reduction in fertility produces a %u201 … probabilistic fashion. We show that most highly developed countries have fertility below the rate that maximizes steady state …

Persistent link: https://www.econbiz.de/10013243953

The Intergenerational Transfer of Public Pension Promises

Novy-Marx, Robert - 2010

The value of pension promises already made by US state governments will grow to approximately $7.9 trillion in 15 years. We study investment strategies of state pension plans and estimate the distribution of future funding outcomes. We conservatively predict a 50% chance of aggregate...

Persistent link: https://www.econbiz.de/10012758358

Intergenerational Externalities

Lazear, Edward P. - 2010

A common theme which runs through much of the investment literature is that private incentives may lead to sub-optimal levels of investment activity. The idea has been extended casually to consideration of human capital investment as well. It is sometimes contended that decisions, made by...

Persistent link: https://www.econbiz.de/10012763223

Intergenerational Transfers, Aging, and Uncertainty

Weil, David N. - 2010

Research on intergenerational transmission of wealth has pointed to uncertainty -- about the date of one's own death, for example -- as a potential source of significant bequest flows. In this paper I examine the effects of this same uncertainty on the behavior of those who expect to receive...

Persistent link: https://www.econbiz.de/10013137648

Dynamic Efficiency in the Gifts Economy

O'Connell, Stephen A.; Zeldes, Stephen P. - 2021

In the standard analysis of an overlapping generations economy with gifts from children to parents, each generation takes the actions of all other generations as given. The resulting "simultaneous moves" equilibrium is dynamically inefficient. In reality, however, parents precede children in...

Persistent link: https://www.econbiz.de/10013232439

Optimal Income, Education, and Bequest Taxes in an Intergenerational Model

Stantcheva, Stefanie - 2015

This paper considers dynamic optimal income, education, and bequest taxes in a Barro-Becker dynastic setup. Parents can transfer resources to their children in two ways: First, through education investments, which have heterogeneous and stochastic returns for children, and, second, through...

Persistent link: https://www.econbiz.de/10013022589

The Timing of Intergenerational Transfers, Tax Policy, and Aggregate Savings

Davis, Steven J.; Altig, David - 2021

We analyze the interest rate and savings effects of fiscal policy in an overlapping generations framework that accommodates two observations: (1) The interest rate on consumption loans exceeds the rate of return to household savings. (2) Private intergenerational transfers are widespread and...

Persistent link: https://www.econbiz.de/10013210704

The Role of Intergenerational Transfers in Aggregate Capital Accumulation

Kotlikoff, Laurence J.; Summers, Lawrence Henry - 2021

This paper uses historicaI U.S. data to directly estimate the contribution of intergenerational transfers to aggregate capital accumulation. The evidence presented indicates that intergenerational transfers account for the vast majority of aggregate U .S. capital formation; only a negligible...

Persistent link: https://www.econbiz.de/10013212379

Forward and Backward Intergenerational Goods : A Theory of Intergenerational Exchange

Rangel, Antonio - 2022

This paper develops a theory of intergenerational exchange for generations that are either selfish or have non …-dynastic altruism. The main building blocks of the theory are forward and backward intergenerational goods (FIGs and BIGs) and the …

Persistent link: https://www.econbiz.de/10014157067