Growth, longevity and public policy presented at CESifo Area Conference on Public Sector Economics, April 2006
This paper studies the optimal long-run public intervention in a two-period OLG model where the probability of surviving the first period and the length of the second period can be influenced by distinct policies. While the optimal size of public intervention depends on the extra-productivity of pub...
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| Format: | UnknownFormat |
| Sprache: | eng |
| Veröffentlicht: |
Munich
Univ., Center for Economic Studies u.a.
2006
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| Schriftenreihe: | CESifo working paper series Fiscal policy, macroeconomics and growth
1780 |
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Tag hinzufügen | Zusammenfassung: | This paper studies the optimal long-run public intervention in a two-period OLG model where the probability of surviving the first period and the length of the second period can be influenced by distinct policies. While the optimal size of public intervention depends on the extra-productivity of public spendings in longevity, its optimal structure is determined by (1) differences in the productivity of each policy; (2) how growth would influence each longevity aspect under laissez-faire; (3) the dependence of each longevity aspect on past achievements. Given competing effects, the optimal intervention can hardly, under additive expected lifetime utility, be strongly unbalanced. |
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| Beschreibung: | Literaturverz. S. 27 - 28 |
| Beschreibung: | 35 S. graph. Darst., Tab. |