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A large literature on ex ante moral hazard in income insurance emphasizes that the individual can affect the probability of an income loss by choice of lifestyle and hence, the degree of risk-taking. The much smaller literature on moral hazard ex post mainly analyzes how a “moral hazard...
Persistent link: https://www.econbiz.de/10005190629
inequality increased. We introduce new ways of approximating the effects of international flows and find that the recent increase … in Swedish wealth inequality is likely to be larger than what official estimates suggest. …
Persistent link: https://www.econbiz.de/10005771090
This paper reviews the literature on economic inequality and trust. Cross-country studies, within-country studies, and … experiments all suggest that economic inequality exerts a negative influence on trust. Four mechanisms are proposed to explain the … negative relationship: social ties (or networks), inference on social relationships (to see inequality as a signal of …
Persistent link: https://www.econbiz.de/10005029285
We present new evidence on the influence of income inequality on generalized trust. Using individual panel data from … relationship between income inequality and trust is particularly strong for people with a strong aversion against income …
Persistent link: https://www.econbiz.de/10005645359
The objective of this paper is to study the dynamics of the wealth distribution over the path of economic development. More specifically, we are interested in distinguishing between changes which seem to be country specific and characteristics shared by all countries. A historical account of the...
Persistent link: https://www.econbiz.de/10005645360
This paper applies a systems-oriented, “holistic” approach to China’s radical economic reforms during the last quarter of a century. It characterizes China’s economic reforms in terms of a multidimensional classification of economic systems. When looking at the economic consequences of...
Persistent link: https://www.econbiz.de/10005771092
In this paper we treat an individual’s health as a continuous variable, in contrast to the traditional literature on income insurance, where it is regularly treated as a binary variable. This is not a minor technical matter; in fact, a continuous treatment of an individual’s health sheds new...
Persistent link: https://www.econbiz.de/10008468497
This paper carries out a critical reappraisal of the two contending theories purporting to explain long-run government spending: Wagner’s Law and different variants of the ratchet effect. We analyze data spanning from the early 19th century until the present day in Sweden and the United...
Persistent link: https://www.econbiz.de/10008476276
I discuss the nature of the economic reforms in China during the last quarter of a century in the context of a typology of economic systems, emphasizing the interaction between economic and social mechanisms. I also consider China’s options for further reforms. I focus on economic reforms that...
Persistent link: https://www.econbiz.de/10005419520
We analyze the consequences for sickness absence of a selective softening of job security legislation for small firms in Sweden in 2001. According to our differences-in-difference estimates, aggregate absence in these firms fell by 0.2-0.3 days per year. This aggregate net figure hides important...
Persistent link: https://www.econbiz.de/10005645278