Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/33293
Authors: 
Docquier, Frédéric
Paddison, Oliver
Pestieau, Pierre
Year of Publication: 
2006
Series/Report no.: 
IZA Discussion Papers 2081
Abstract: 
This paper considers a three-overlapping-generations model of endogenous growth wherein human capital is the engine of growth. It first contrasts the laissez-faire and the optimal solutions. Three possible accumulation regimes are distinguished. Then it discusses a standard set of tax-transfer instruments that allow for decentralization of the social optimum. Within the limits of our model, the rationale for the standard pattern of intergenerational transfers (the working-aged financing the education of the young and the pension of the old) is seriously questioned. On pure efficiency grounds, the case for generous public pensions is rather weak.
Subjects: 
endogenous growth
human capital
intergenerational transfers
JEL: 
D90
H21
H52
Document Type: 
Working Paper

Files in This Item:
File
Size
449.71 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.