I analyze simultaneous voting on the wage tax rate and investment in public education with three overlapping generations of heterogeneous agents. Wage tax revenue net of the costs of public education is used to finance social security benefits. When citizens di .er in ability and age, the median voter need not be a middle-aged citizen even with three cohorts of equal size. Furthermore, the possibility of multiple equilibria cannot be excluded.
JEL classification: H52, H55, D72
Keywords: Social security; public education; voting; implicit intergenerational contract
Length: 37 pages
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