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Redistribution and Education Subsidies are Siamese Twins

Bovenberg, A. Lans; Jacobs, Bas - Tinbergen Instituut - 2005

We develop models of optimal linear and non-linear income taxation with endogenous human capital formation to explore optimal education subsidies. Optimal subsidies on education ensure efficiency in human capital accumulation and thus play an important role in alleviating the tax distortions on...

Persistent link: https://www.econbiz.de/10011257600

Capital Market Failure, Adverse Selection and Equity Financing of Higher Education

Jacobs, Bas; Wijnbergen, Sweder J.G. van - Tinbergen Instituut - 2005

debt markets and becauseinsurance markets for human capita1 related risk are absent. Lega1limitations on the use of human …

Persistent link: https://www.econbiz.de/10011256826

Human Capital and Optimal Positive Taxation of Capital Income

Jacobs, Bas; Bovenberg, A. Lans - Tinbergen Instituut - 2005

This paper analyzes optimal linear taxes on capital and labor incomes in a life-cyclemodel of human capital investment, financial savings, and labor supply with heteroge-nous individuals. A dual income tax with a positive marginal tax rate on not onlylabor income but also capital income is...

Persistent link: https://www.econbiz.de/10011257280

Risk, Balanced Skills and Entrepreneurship

Hsieh, Chihmao; Parker, Simon C.; Praag, C. Mirjam van - Tinbergen Instituut - 2011

This paper proposes that risk aversion encourages individuals to invest in balancedskill profiles, making them more … the impactsboth of risk aversion and balanced skills on the likelihood individuals chooseentrepreneurship. Data on Dutch … university graduates provides evidence which supportsthis contention. It thereby raises the possibility that even risk …

Persistent link: https://www.econbiz.de/10011255496

Subsidizing Enjoyable Education

Dur, Robert; Glazer, Amihai - Tinbergen Instituut - 2005

College education is not only an investment; for many people it also generates consumption benefits. If these benefits are normal goods, then the rich attend college at higher rates than the poor. Furthermore, the marginal poor student is smarter than the marginal rich student. Colleges aiming...

Persistent link: https://www.econbiz.de/10011255683

Efficient Progressive Taxes and Education Subsidies

Ewijk, Casper van; Tang, Paul - Tinbergen Instituut - 2001

Progressive income taxes moderate wage demands by trade unions and thereby reduce unemployment, but alsothey reduce incentives to acquire skills and lower productivity of workers. The optimal response of the governmentto this dilemma is to choose a system of progressive taxes and to (partly)...

Persistent link: https://www.econbiz.de/10011256721

Returns to Tenure or Seniority?

Buhai, Sebastian; Portela, Miguel; Teulings, Coen N.; … - Tinbergen Instituut - 2008

consider the effects of Employment Protection Legislation and risk aversion. …

Persistent link: https://www.econbiz.de/10011255817

Decision Making in Incomplete Markets with Ambiguity -- A Case Study of a Gas Field Acquisition

Zhao, Lin; Wijnbergen, Sweder van - Tinbergen Instituut - 2014

(Generalized AutoRegressive Score) and GARCH models, extending them to Student's t-GARCH and t-GAS. Second, an important risk … standard option pricing inapplicable. Therefore we parametrize the investor's risk preference and use utility indifference …

Persistent link: https://www.econbiz.de/10011256690

Acquisitions as a Real Options Bidding Game

Smit, Han T.J.; Berg, Ward A. van den; Maeseneire, Wouter De - Tinbergen Instituut - 2004

This paper uses a unified treatment of real options and game theory to examine value appropriation in takeovers within a competitive environment of imperfect information. The integrated model considers a potential target as a shared real option on a bundle of resources. Competing potential...

Persistent link: https://www.econbiz.de/10011256936

Consolidation Waves

Berg, Ward A. van den; Smit, Han T.J. - Tinbergen Instituut - 2007

This paper explains why consolidation acquisitions occur in waves and it predicts the differing role each firm is likely to play in the consolidation game. We propose that whether a firm assumes the role of rival consolidator, target, or passive observer depends on the position of the firm...

Persistent link: https://www.econbiz.de/10011257223