Intergenerational Transfers, Lifetime Welfare and Resource Preservation

Valente Simone
CEIS Working Papers
This paper studies the welfare properties of distortionary transfers in a life-cycle growth model where natural capital is private property. The main result is that, under credible pre-commitment, each newborn generation prefers positive taxes-subsidies t
Number: 214
Date: Tuesday, March 1, 2005
Revision Date: Tuesday, March 1, 2005