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On the Inefficiency of Inequality
Schiff, Maurice - Institute for the Study of Labor (IZA) - 2004
A number of studies have examined the implications of preference interdependence. This paper models utility as depending on other people’s consumption levels and shows that welfare declines with inequality, equilibrium inequality is inefficient, and the optimal intervention leads to a more...
Persistent link: https://www.econbiz.de/10005700852
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Wage Setting in Modern Labor Markets: Neither Fair Nor Efficient
Schlicht, Ekkehart - Institute for the Study of Labor (IZA) - 2011
economic efficiency within a changing technological and social environment. Ethical evaluations of these developments diverge …, yet the view that free labor markets drive to efficiency remains undisputed. This note sets out to criticize, in a non …-technical manner, this efficiency presumption which is based on Adam Smith’s theory of wage setting. It is urged that a Smithian wage …
Persistent link: https://www.econbiz.de/10008924594
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Short-Run Distributional Effects of Public Education Transfers to Tertiary Education Students in Seven European Countries
Callan, Tim; Smeeding, Tim; Tsakloglou, Panos - Institute for the Study of Labor (IZA) - 2008
Direct provision of public services can alter the balance of resources across income groups. We focus on the issues arising when taking account of the impact of publicly provided education services across the income distribution. We combine OECD information on spending per student in particular...
Persistent link: https://www.econbiz.de/10005762004