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The Lindahl equilibrium in Schumpeterian growth models: Knowledge diffusion, social value of innovations and optimal R&D incentives

Gray, Elie; Grimaud, André - Institut d'Économie Industrielle (IDEI), Toulouse … - 2014

What is the social value of innovations in Schumpeterian growth models? This issue is tackled by introducing the concept of Lindahl equilibrium in a standard endogenous growth model with vertical innovations which is extended by explicitly considering knowledge diffusion. Assuming that knowledge...

Persistent link: https://www.econbiz.de/10010968934

Habits, aspirations and endogenous fertility

Fanti, Luciano - Dipartimento di Economia e Management, Università … - 2012

Motivated by the increasing literature on endogenous preferences as well as on endogenous fertility, this paper investigates the implications of the interaction of the endogenous determination of the number of children with habit and aspiration formation in an OLG model. In contrast with the...

Persistent link: https://www.econbiz.de/10010932989

PAYG pensions and fertility drop: some (pleasant) arithmetic

Fanti, Luciano - Dipartimento di Economia e Management, Università … - 2012

This paper explores whether the common belief that the currently observed fertility drop is a threat (or, conversely, the invoked fertility recovery is beneficial) for PAYG pensions is really always validated by the basic accounting of the PAYG pension budget. It is shown, through a simple...

Persistent link: https://www.econbiz.de/10010932992

Fertility and money in an OLG model

Fanti, Luciano - Dipartimento di Economia e Management, Università … - 2012

We extend the two-period-lived-agent overlapping generations model with endogenous fertility and demand for money to understand whether and how the introduction of a money sector modifies what we have so far learned about fertility behaviours. It is shown that the existence of money may tend to...

Persistent link: https://www.econbiz.de/10010933007

Endogenous labour supply, habits and aspirations

Fanti, Luciano - Dipartimento di Economia e Management, Università … - 2012

Motivated by the increasing literature on endogenous preferences, this paper investigates the implications of the introduction of habit and aspiration formation when labour supply is endogenous, in an OLG small open economy. In contrast with models with exogenous labour supply where aspirations...

Persistent link: https://www.econbiz.de/10010933011

Habits, aspirations and endogenous fertility

Fanti, Luciano - Dipartimento di Economia e Management, Università … - 2012

Motivated by the increasing literature on endogenous preferences as well as on endogenous fertility, this paper investigates the implications of the interaction of the endogenous determination of the number of children with habit and aspiration formation in an OLG model. In contrast with the...

Persistent link: https://www.econbiz.de/10010933020

Consequences of a boost of mandatory retirement age on long run income and PAYG pensions

Fanti, Luciano - Dipartimento di Economia e Management, Università … - 2012

the retirement age may be harmful for long run income and when the capital’s share is sufficiently high even PAYG pensions … are reduced. In conclusion, since it is shown that the age of retirement might be reduced obtaining a higher income and … beneficial in the long run for income and pension payments is theoretically controversial. …

Persistent link: https://www.econbiz.de/10010933024

PAYG pensions and fertility drop: some (pleasant) arithmetic

Fanti, Luciano - Dipartimento di Economia e Management, Università … - 2012

This paper explores whether the common belief that the currently observed fertility drop is a threat (or, conversely, the invoked fertility recovery is beneficial) for PAYG pensions is really always validated by the basic accounting of the PAYG pension budget. It is shown, through a simple...

Persistent link: https://www.econbiz.de/10010933025

Growth, PAYG pension systems crisis and mandatory age of retirement

Fanti, Luciano - Dipartimento di Economia e Management, Università … - 2012

Since in many countries - plagued by low fertility - significant increases of the mandatory retirement age have been recently introduced with the declared objective to sustain PAYG pension budgets, then in this paper we investigate whether and how such boosts are effective. It is shown - in the...

Persistent link: https://www.econbiz.de/10010933040

Endogenous Lifetime in an Overlapping-Generations Small Open Economy

Fanti, Luciano; Gori, Luca - In: FinanzArchiv: Public Finance Analysis 68 (2012) 2, pp. 121-152

income per worker. Moreover, using the notion of A-efficiency introduced by Golosov et al. (2007) in a context of endogenous … conclusions can be drawn: although the financing of health investments reduces both the disposable income and marginal propensity … to consume of young individuals through increased labor income taxation, it also increases the length of life and can …

Persistent link: https://www.econbiz.de/10010828332

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