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Social Investments, Informal Risk Sharing, and Inequality

Ambrus, Attila; Chandrasekhar, Arun G.; Elliott, Matt - National Bureau of Economic Research (NBER) - 2014

This paper studies costly network formation in the context of risk sharing. Neighboring agents negotiate agreements as in Stole and Zwiebel (1996), which results in the social surplus being allocated according to the Myerson value. We uncover two types of inefficiency: overinvestment in social...

Persistent link: https://www.econbiz.de/10010960431

Capital Taxation and Ownership when Markets are Incomplete

Farhi, Emmanuel - National Bureau of Economic Research (NBER) - 2007

This paper analyzes the theoretical and quantitative implications of optimal capital taxation in the neoclassical growth model with aggregate shocks and incomplete markets. The model features a representative-agent economy with proportional taxes on labor and capital. I first consider the case...

Persistent link: https://www.econbiz.de/10005829854

Capital Taxation under Political Constraints

Scheuer, Florian; Wolitzky, Alexander - National Bureau of Economic Research (NBER) - 2014

optimal marginal capital taxes are U-shaped, so that savings are subsidized for the middle class but are taxed for the poor …

Persistent link: https://www.econbiz.de/10010759907

Taxation and Top Incomes in Canada

Milligan, Kevin; Smart, Michael - National Bureau of Economic Research (NBER) - 2014

We estimate the elasticity of reported income with respect to tax rates for high earners using subnational variation across Canadian provinces. We argue this allows for better identification of tax elasticities than the existing literature. We find that elasticities of reported income at the...

Persistent link: https://www.econbiz.de/10010951365

Public Goods and the Distribution of Income

Kaplow, Louis - National Bureau of Economic Research (NBER) - 2003

This article addresses conceptual issues concerning the distributive incidence of public goods. Solutions depend on the specific purposes for asking the question of distributive incidence notably, assessing the extent to which various public goods should be provided, determining how the...

Persistent link: https://www.econbiz.de/10005830236

Quantitative Models of Wealth Inequality: A Survey

De Nardi, Mariacristina - National Bureau of Economic Research (NBER) - 2015

In the data, wealth is very unequally distributed, even more so than labor earnings and income, and the saving rate of … dissave. As a result, these models generate too little wealth concentration in the hands of the wealthiest compared with the … rate of richer people, and thus generate more realistic saving behavior and wealth concentration in dynamic quantitative …

Persistent link: https://www.econbiz.de/10011262924

Insurance in extended family networks

Attanasio, Orazio; Meghir, Costas; Mommaerts, Corina - National Bureau of Economic Research (NBER) - 2015

We investigate partial insurance and group risk sharing in extended family networks. Our approach is based on decomposing income shocks into group aggregate and idiosyncratic components, allowing us to measure the extent to which each is insured, having accounted for public insurance programs....

Persistent link: https://www.econbiz.de/10011240581

Effects of Social Security Policies on Benefit Claiming, Retirement and Saving

Gustman, Alan L.; Steinmeier, Thomas L. - National Bureau of Economic Research (NBER) - 2013

An enhanced version of a structural model jointly explains benefit claiming, wealth and retirement, including reversals …

Persistent link: https://www.econbiz.de/10010821712

The Role of Health in Retirement

Gustman, Alan L.; Steinmeier, Thomas L. - National Bureau of Economic Research (NBER) - 2014

This paper constructs and estimates a dynamic model of the evolution of health for those over the age of 50 and then embeds that model of health dynamics in a structural, econometric model of retirement and saving. The health model traces the effects of smoking, obesity, alcohol consumption,...

Persistent link: https://www.econbiz.de/10010775235

Taxation of Intergenerational Transfers and Wealth

Kopczuk, Wojciech - National Bureau of Economic Research (NBER) - 2012

, bequests, inheritances, inter vivos gifts) and wealth. The main message may be summarized as follows. Empirical evidence on … direction of (1) mixed motives (2) heterogeneity of preferences and (3) importance of retaining control over wealth. These … focus on understanding implications of inequality of inherited wealth: the topic that has been neglected in the past, even …

Persistent link: https://www.econbiz.de/10010950816