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Birth, death and taxes

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  • Abel, Andrew B.

Abstract

This paper analyzes the effects of lump-sum tax policy in an overlapping generations model in which consumers have uncertain longevity. It extends previous analyses by considering the case in which private insurance arrangements are actuarially unfair. In addition, it considers the polar case of actuarially fair insurance and the polar case of no insurance. A general condition for debt neutrality is derived. This condition depends explicitly on the degree of actuarial unfairness in insurance and on the extent to which parents care about the utility of their children.
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Suggested Citation

  • Abel, Andrew B., 1989. "Birth, death and taxes," Journal of Public Economics, Elsevier, vol. 39(1), pages 1-15, June.
  • Handle: RePEc:eee:pubeco:v:39:y:1989:i:1:p:1-15
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    References listed on IDEAS

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    1. Abel, Andrew B, 1987. "Operative Gift and Bequest Motives," American Economic Review, American Economic Association, pages 1037-1047.
    2. Drazen, Allan, 1978. "Government Debt, Human Capital, and Bequests in a Life-Cycle Model," Journal of Political Economy, University of Chicago Press, vol. 86(3), pages 505-516, June.
    3. Abel, Andrew B, 1986. "Capital Accumulation and Uncertain Lifetimes with Adverse Selection," Econometrica, Econometric Society, vol. 54(5), pages 1079-1097, September.
    4. Philippe Weil, 1987. "Love Thy Children: Reflections on the Barro Debt Neutrality Theorem," Sciences Po publications info:hdl:2441/8711, Sciences Po.
    5. Buiter, Willem H, 1988. "Death, Birth, Productivity Growth and Debt Neutrality," Economic Journal, Royal Economic Society, vol. 98(391), pages 279-293, June.
    6. Abel, Andrew B, 1985. "Precautionary Saving and Accidental Bequests," American Economic Review, American Economic Association, vol. 75(4), pages 777-791, September.
    7. Weil, Philippe, 1989. "Overlapping families of infinitely-lived agents," Journal of Public Economics, Elsevier, pages 183-198.
    8. Weil, Philippe, 1987. "Love thy children : Reflections on the Barro debt neutrality theorem," Journal of Monetary Economics, Elsevier, vol. 19(3), pages 377-391, May.
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    Cited by:

    1. Willem H. Buiter, 1988. "Centre For Labour Economics," NBER Working Papers 2578, National Bureau of Economic Research, Inc.
    2. d'Albis, Hippolyte & Decreuse, Bruno, 2009. "Parental altruism, life expectancy and dynamically inefficient equilibria," Journal of Economic Dynamics and Control, Elsevier, pages 1897-1911.
    3. Zsolt Becsi, 1999. "Heterogeneity and the welfare cost of dynamic factor taxes," FRB Atlanta Working Paper 99-2, Federal Reserve Bank of Atlanta.
    4. Smetters, Kent, 1999. "Ricardian equivalence: long-run Leviathan," Journal of Public Economics, Elsevier, vol. 73(3), pages 395-421, September.
    5. Zhang, Jie & Zhang, Junsen & Lee, Ronald, 2003. "Rising longevity, education, savings, and growth," Journal of Development Economics, Elsevier, vol. 70(1), pages 83-101, February.

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