policy consists in full deferral of income taxes on savings and a full taxation of interest. Mobility of the old calls for … savings in combination with full tax exemption on capital income. …

This paper considers how optimal education and tax policy depends on the risk properties of human capital. It is … demonstrated that a key feature of human capital investments is whether they increase or decrease wage risk. In a benchmark model …

potentially loss averse around their expected outcome make risky investments in education and we draw on optimal tax theory to … explore the design of policy. The model highlights the critical roles played by (i) the relationship between behavioural risk … preferences, standard risk aversion and labour supply behaviour, (ii) the risk properties of education, and (iii) the degree of …

We study risk attitudes, ambiguity attitudes, and time preferences of 661 children and adolescents, aged ten to … mass index, are less likely to save money and show worse conduct at school. Experimental measures for risk and ambiguity …

formation can be analyzed using dynamic programming techniques. Second, we derive optimal labor and savings wedges for habit … to labor supply and savings. We demonstrate that the theoretical results are quantitatively important: in a stylized life …-cycle model, average labor and savings wedges fall by more than one third compared to time-separable references. Third, we exploit …