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Addiction and The Role of Commitment Devices

Bassi, Matteo - Centro Studi di Economia e Finanza (CSEF) - 2010

This paper studies if external commitment devices are effectively capable of helping agents to reduce their consumption of addictive goods (alcohol, cigarettes, drugs, fatty foods etc.). The main assumption introduced in the model is that individuals are sophisticated hyperbolic discounters. The...

Persistent link: https://www.econbiz.de/10008765692

Optimal Libertarian Sin Taxes

Bassi, Matteo - Centro Studi di Economia e Finanza (CSEF) - 2012

This paper studies the optimal fiscal treatment of addictive goods (cigarettes, drugs, fatty foods, alcohol, gambling etc.). It shows that, when agents have private information about their productivity levels and their degree of rationality, the Atkinson and Stiglitz result of optimal uniform...

Persistent link: https://www.econbiz.de/10010801014

An Egg Today and a Chicken Tomorrow: A Model of Social Security with Quasi-Hyperbolic Discounting

Bassi, Matteo - Centro Studi di Economia e Finanza (CSEF) - 2008

, who look for a commitment device that increases boththeir saving and retirement age, form a coalition with rich in order … Pension (2006), this paper applies this behavioral framework to retirement decisions. We propose a three-periods OLG model … with quasi-hyperbolic consumers whosave for post retirement consumption in the first period and choose their retirement age …

Persistent link: https://www.econbiz.de/10005626726

Early Retirement and Social Security: A Long Term Perspective

Conde-Ruiz, J. Ignacio; Galasso, Vincenzo; Profeta, Paola - Centro Studi di Economia e Finanza (CSEF) - 2006

We provide a long term perspective on the individual retirement behavior and on the future of retirement. In a … equilibrium with positive social security contribution rates and early retirement. While aging has opposite economic and political … effects on social security contributions, it may lead to postponing retirement -- by reducing the generosity of pension …

Persistent link: https://www.econbiz.de/10005802075

Tax Incentives and the Demand for Life Insurance: Evidence from Italy

Jappelli, Tullio; Pistaferri, Luigi - Centro Studi di Economia e Finanza (CSEF) - 2001

The theoretical literature suggests that taxation can have a large impact on household portfolio selection and allocation. In this paper we consider the tax treatment of life insurance, considering the cancellation of tax incentives in Italian life insurance contracts for investors with high...

Persistent link: https://www.econbiz.de/10005839177

Do Market Regulation and Financial Imperfections Affect Firm Size? New Empirical Evidence

Fonseca, Raquel; González, Natalia Utrero - Centro Studi di Economia e Finanza (CSEF) - 2004

This paper investigates the importance that market regulation and financial imperfections have in firm size. We analyse institutions affecting labour market as Employment Protection Laws (EPL) and Product Market Regulation (PMR). Moreover, we study the effects of these institutions on firm...

Persistent link: https://www.econbiz.de/10005839201

Pension benefit default risk and welfare effects of funding regulation

Steinberger, Thomas - Centro Studi di Economia e Finanza (CSEF) - 2005

This paper analyzes the welfare effects of funding regulation for defined benefit pension plans subject to pension benefit default risk in an incomplete financial markets OLG-setting with aggregate uncertainty and idiosyncratic pension default risk. The financial market incompleteness arises...

Persistent link: https://www.econbiz.de/10005839167

What Explains Fertility? Evidence from Italian Pension Reforms

Billari, Francesco C.; Galasso, Vincenzo - Centro Studi di Economia e Finanza (CSEF) - 2008

predicts lower future pensions to reduce fertility, while the “old-age security” to increase it. Our empirical analysis … identifies a clear and robust positive effect of less generous future pensions on post-reform fertility. These findings are …

Persistent link: https://www.econbiz.de/10005839200

Winner-Picking or Cross-Subsidization? The Strategic Impact of Resource Flexibility in Business Groups

Cestone, Giacinta; Fumagalli, Chiara - Centro Studi di Economia e Finanza (CSEF) - 2003

We show that in business groups with efficient internal capital markets both winner-picking and cross-subsidization may occur. Depending on the amount of internal resources, a group may either exit a market in response to increased competition, or rather channel funds to the subsidiary operating...

Persistent link: https://www.econbiz.de/10005750361

Social security and entrepreneurial activity

Steinberger, Thomas - Centro Studi di Economia e Finanza (CSEF) - 2005

neither receiving wage income nor paying social security contributions. Social security bene- fits in retirement depend on the …

Persistent link: https://www.econbiz.de/10005750370