Article (Scientific journals)
Fiscal policy in an ovrelapping generations model with bequest-as-consumption
Michel, Philippe; Pestieau, Pierre
2004In Journal of Public Economic Theory, p. 397-407
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Abstract :
[en] This paper analyzes an overlapping generation (OLG) growth model wherein saving finances second period consumption and bequest-as-consumption. First, it looks at the market equilibrium and at the optimal solution; then it turns to the issue of decentralizing the optimal solution with various taxes and transfers. Depending on the available instruments, either a first-best or a second-best optimum can be achieved. Throughout the paper, the results are contrasted with those obtained in the standard OLG model without intergenerationel transfers.
Research center :
CREPP - Centre de Recherche en Économie Publique et de la Population - ULiège
Disciplines :
Economic systems & public economics
Author, co-author :
Michel, Philippe;  Université de la Méditerrannée
Pestieau, Pierre  ;  Université de Liège - ULiège > HEC-Ecole de gestion > HEC-Ecole de gestion
Language :
English
Title :
Fiscal policy in an ovrelapping generations model with bequest-as-consumption
Publication date :
2004
Journal title :
Journal of Public Economic Theory
ISSN :
1097-3923
eISSN :
1467-9779
Publisher :
Blackwell Publishing
Pages :
397-407
Peer reviewed :
Peer Reviewed verified by ORBi
Available on ORBi :
since 23 March 2012

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