Optimal accumulation in an endogenous growth setting with human capital

Arbeitspapier

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.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: IZA Discussion Papers ; No. 2081

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Micro-Based Behavioral Economics: General‡ ; Taxation and Subsidies: Efficiency; Optimal Taxation ; National Government Expenditures and Education
• Thema: endogenous growth ; human capital ; intergenerational transfers ; Privater Transfer ; Öffentlicher Transfer ; Humankapital ; Overlapping Generations ; Wohlfahrtstheorie ; Neue Wachstumstheorie ; Theorie

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Docquier, Frédéric ; Paddison, Oliver ; Pestieau, Pierre
• Ereignis: Veröffentlichung
• (wer): Institute for the Study of Labor (IZA)
• (wo): Bonn
• (wann): 2006

Weitere Informationen

• Handle: http://hdl.handle.net/10419/33293
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ