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Please use this identifier to cite or link to this item: http://hdl.handle.net/2108/84

Title: Intergenerational transfers, lifetime welfare and resource preservation
Authors: Valente, Simone
Keywords: distortionary taxation
intergenerational transfers
overlapping generation
renewable resources
sustainability
Issue Date: 5-Feb-2005
Publisher: CEIS
Series/Report no.: Quaderni CEIS
214
Abstract: 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 to laissez-faire conditions when the resource share in production is suffciently high. By increasing the degree of natural preservation, resource-saving policies raise welfare of all generations except that of the first resource owner, who su®ers a deadweight loss due to taxation of the initial stock. If the first owner renounces part of his claims over initial endowments, all successive generations support resource-saving policies for purely selfish reasons
URI: http://hdl.handle.net/2108/84
Appears in Collections:Quaderni

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