This paper studies the determination of public investment in environmental quality when there are private alternatives. Public investment is chosen by majority voting. When consumption and environmental quality are complementary one may observe a solution of the type "ends against the middle".

When educational policy is supplemented by a redistributive income tax, and when individualsdiffer in their ability to benefit from education, the optimal policy is typically rather regressive.Resources are concentrated on the most able individuals in order to get a "cake" as big aspossible to...

In a number of countries one observes a steady decline in defined benefits pensions schemes,public or private, funded or unfunded, and a simultaneous expansion of defined contributionsplans. One of the consequences of this trend is to deprive individuals at the time of theirretirement from the...

This paper develops a model of inter vivos gifts and bequests in a setting of moral hazard and adverse selection. Altruistic parents do not perfectly know how much effort their children make to earn their living nor do they know their true level of ability. Inter vivos gifts take place prior to...

This paper studies the incidence of tax-transfer policy in a growth model wherein individuals differ according to their level of intergenerational altruism and have an endogenous labor supply. The main results is that public debt is neutral at the macro level but redistributes resources from...

We consider social insurance schemes with a two-part benefit formula: a flat (constant) term and a variable term which is proportional to individuals' contributions. The factor of proportionality defines the type of social insurance. We adopt a two-stage political economy approach. At the first,...