English, Article, Journal or magazine article edition: Optimal accumulation in an endogenous growth setting with human capital Frédéric Docquier; Frederic, DOCQUIER; Oliver, Paddison; ...

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Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Optimal accumulation in an endogenous growth setting with human capital
Author
  • Frédéric Docquier
  • Frederic, DOCQUIER
  • Oliver, Paddison
  • Pierre PESTIEAU
Physical Description
  • preprint
Notes
  • RePEc:iza:izadps:dp2081
  • This paper considers a three-overlapping-generations model of endogeneous growth wherein human capital is the engine of growth. It first contrasts the Ôlaissez-faireÕ 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.
  • Endogenous growth, human capital, intergenerational transfers
  • RePEc:ctl:louvec:2006022
Language
  • English
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