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Separating selection and incentive effects in health insurance
Gardiol, Lucien; Geoffard, Pierre-Yves; Grandchamp, Chantal - HAL - 2005
This paper provides an analysis of the health insurance and health care consumption. A structural microeconomic model of joint demand for health insurance and health care is developed and estimated using full maximum likelihood method using Swiss insurance claims data for over 60 000 adult...
Persistent link: https://www.econbiz.de/10010738866
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Heterogeneous Banking Efficiency : Allocative Distortions and Lending Fluctuations
Duprey, Thibaut - HAL - 2013
This paper is a first attempt to connect the heterogeneity in bank efficiency with lending fluctuations and allocation … efficiency: there is a trade-off between the two in the presence of heterogeneity in bank monitoring efficiency. The mechanism at … featuring a lower cyclicality signals a lower efficiency in its monitoring abilities; (iii) a heterogeneous banking system …
Persistent link: https://www.econbiz.de/10010739116
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Optimal Student Loans and Graduate Tax under Moral Hazard and Adverse Selection
Gary-Bobo, Robert J.; Trannoy, Alain - HAL - 2014
We characterize the set of second-best optimal "menus" of student-loan contracts in a simple economy with risky labour-market outcomes, adverse selection, moral hazard and risk aversion. The model combines student loans with an elementary optimal income-tax problem. The second-best optima...
Persistent link: https://www.econbiz.de/10010933842
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Ambiguity, Agency Relationships and Adverse Selection
Mondello, Gérard - HAL - 2012
This paper applies to adverse selection theory the advances made in the field of ambiguity theory. It shows that i) a …
Persistent link: https://www.econbiz.de/10010734227
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General equilibrium with asymmetric information and default penalties
Gouveia, Nuno - HAL - 2005
We introduce a two-period general equilibrium model with uncertainty and incomplete financial markets, where default is allowed and agents face in case they do default an utility penalty, which is their own private information. In this setting, if agents have heterogeneous characteristics they...
Persistent link: https://www.econbiz.de/10010750610
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Double moral hazard and the energy efficiency gap
Giraudet, Louis-Gaëtan; Houde, Sébastien - HAL - 2014
We investigate how moral hazard problems can cause sub-optimal investment in energy efficiency, a phenomenon known as … the energy efficiency gap. We argue that such problems are likely to be important for home energy retrofits, where both … efficiency. We first formalize the double moral hazard problem described above and examine how the resulting energy efficiency …
Persistent link: https://www.econbiz.de/10010821504
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Optimal Unemployment Insurance for Older Workers
Hairault, Jean-Olivier; Langot, François; Ménard, … - HAL - 2012
At the end of working life, as well as reducing unemployment benefits, the unemployment-insurance agency could apply pension tax instead of wage tax. First, the pension tax provides greater incentives as the value of re-employment is tax-free. Second, the short job duration before retirement...
Persistent link: https://www.econbiz.de/10010821519
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Regular moral hazard economies
Chassagnon, Arnold - HAL - 2007
That paper formalizes the idea that when the magnitude of the moral hazard phenomenon is not important, the distortions like equilibria multiplicity or equilibrium discontinuity relative to the economic fundamentals disappear. We study a two state of nature insurance model, with a risk neutral...
Persistent link: https://www.econbiz.de/10010738744
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Sharing aggregate risks under moral hazard
Demange, Gabrielle - HAL - 2008
This paper analyzes the efficient design of insurance schemes in the presence of aggregate shocks and moral hazard. The population is divided into groups, the labour force in different sectors for instance. In each group, individuals are ex ante identical but are subject to idiosyncratic shocks....
Persistent link: https://www.econbiz.de/10010738915
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Optimal Unemployment Insurance for Older Workers
Hairault, Jean-Olivier; Langot, François; Ménard, … - HAL - 2012
At the end of working life, as well as reducing unemployment benefits, the unemployment-insurance agency could apply pension tax instead of wage tax. First, the pension tax provides greater incentives as the value of re-employment is tax-free. Second, the short job duration before retirement...
Persistent link: https://www.econbiz.de/10010775764