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Tax-benefit systems in Europe and the US: Between equity and efficiency
Bargain, Olivier; Dolls, Mathias; Neumann, Dirk; … - 2011
preferences or efficiency constraints is an important question that paves the debate about the optimality of welfare regimes. To … approach to characterize the redistributive preferences embodied in the welfare systems of 17 EU countries and the US. Implicit … social welfare functions are broadly compatible with the fiction of an optimizing Paretian social planner. Some exceptions …
Persistent link: https://www.econbiz.de/10010277401
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Healthy at Work? Evidence from a Social Experimental Evaluation of a Firm-Based Wellness Program
Simonsen, Marianne; Skipper, Lars - 2024
We employ a large social experiment combined with register-based data allowing for up to 12-year follow-up to evaluate a long-lasting employer-sponsored health and well-being program. We show that employees at treated worksites receive fewer consultations from their primary care physician and...
Persistent link: https://www.econbiz.de/10015047185
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The Invariant Distribution of Wealth and Employment Status in a Small Open Economy with Precautionary Savings
Bayer, Christian; Rendall, Alan D.; Wälde, Klaus - 2018
We study optimal savings in continuous time with exogenous transitions between employment and unemployment as the only source of uncertainty in a small open economy. We prove the existence of an optimal consumption path. We exploit that the dynamics of consumption and wealth between jumps can be...
Persistent link: https://www.econbiz.de/10011957213
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Stability and dynamics in an overlapping generations economy under flexible wage negotiation and capital accumulation
Koskela, Erkki; Puhakka, Mikko - 2006
We analyze the stability and dynamics of an overlapping generations model under imperfectly competitive labour markets without population growth and with perfect foresight. Under right-to-manage wage bargaining we assume that wage is negotiated after the decision on the capital stock. With...
Persistent link: https://www.econbiz.de/10010264012
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Matching and saving in continuous time: Proofs
Bayer, Christian; Wälde, Klaus - 2010
This paper provides the proofs to the analysis of a continuous time matching model with saving in Bayer and Wälde (2010a). The paper proves the results on consumption growth, provides an existence proof for optimal consumption and a detailed derivation of the Fokker-Planck equations.
Persistent link: https://www.econbiz.de/10010270451
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Optimal monetary policy when agents are learning
Molnár, Krisztina; Santoro, Sergio - 2010
policy recommendation is robust: the welfare loss entailed by the optimal policy under learning if the private sector …
Persistent link: https://www.econbiz.de/10010271452
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Block-Recursive Equilibria in Heterogenous-Agent Models
Kaas, Leo - 2020
Equilibrium models with heterogeneous agents and aggregate uncertainty are difficult to analyze since policy functions and market prices depend on the cross-sectional distribution over agents’ state variables which is generally a high-dimensional object. This paper develops and applies a...
Persistent link: https://www.econbiz.de/10012425643
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On the Perils of Stabilizing Prices when Agents are Learning
Mele, Antonio; Molnár, Krisztina; Santoro, Sergio - 2015
not stabilize prices, economic volatility is high, and agents suffer the corresponding welfare losses. However, these …
Persistent link: https://www.econbiz.de/10010480813
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Saddles, Indeterminacy and Bifurcations in an Overlapping Generations Economy with a Renewable Resource
Koskela, Erkki; Ollikainen, Markku; Puhakka, Mikko - 2000
We incorporate a renewable resource into an overlapping generations model with standard, well-behaved utility and constant returns to scale production functions. Besides being a factor of production the resource serves as a store of value. We characterize dynamics, efficiency and stability of...
Persistent link: https://www.econbiz.de/10010314861
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Learning Stability in Economies with Heterogenous Agents
Honkapohja, Seppo; Mitra, Kaushik - 2002
An economy exhibits structural heterogeneity when the forecasts of different agents have different effects on the determination of aggregate variables. Various forms of structural heterogeneity can arise and we study the important case of economies in which agents' behavior depends on forecasts...
Persistent link: https://www.econbiz.de/10010315457