Gary-Bobo, Robert J.; Trannoy, Alain - CESifo - 2013
risky labour-market outcomes, adverse selection, moral hazard and risk aversion. The model combines structured student loans … (redistribution). In separating optima, the talented types bear more risk than the less-talented ones; they arise only if the social … of moral hazard; it typically involves cross-subsidies; generically, it cannot be decomposed as the sum of an optimal …