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Preserving Transfer Benefit For Present And Future Generations

Author

Listed:
  • Noël Bonneuil
  • Romina Boarini

Abstract

How should governmental policy be adjusted to guarantee a positive account for each generation, taking into account welfare and equity across age classes? Such a contract depends on the dynamic maintenance of a positive account for every present and future generation and can be achieved by manipulating both pension and education spending. The ensuing dynamic tradeoff between generational benefit and equity implies an optimal interest rate in human capital and attenuates the link that long-term pension sustainability necessarily depends on positive population growth.

Suggested Citation

  • Noël Bonneuil & Romina Boarini, 2004. "Preserving Transfer Benefit For Present And Future Generations," Mathematical Population Studies, Taylor & Francis Journals, vol. 11(3-4), pages 181-203.
  • Handle: RePEc:taf:mpopst:v:11:y:2004:i:3-4:p:181-203
    DOI: 10.1080/08898480490513599
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    Citations

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    Cited by:

    1. Bonneuil, Noel & Saint-Pierre, Patrick, 2008. "Beyond optimality: Managing children, assets, and consumption over the life cycle," Journal of Mathematical Economics, Elsevier, vol. 44(3-4), pages 227-241, February.

    More about this item

    Keywords

    generational transfer; inter-generational accounting; decision-making; viability theory JEL: C00; D91; D81; H21; H30;

    JEL classification:

    • C00 - Mathematical and Quantitative Methods - - General - - - General
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General

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