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Walk the Line: Conflict, State Capacity and the Political Dynamics of Reform
Jain, Sanjay; Majumdar, Sumon; Mukand, Sharun - 2014
This paper develops a dynamic framework to analyze the political sustainability of economic reforms in developing countries. First, we demonstrate that economic reforms that are proceeding successfully may run into a political impasse, with the reform's initial success having a negative impact...
Persistent link: https://www.econbiz.de/10010333413
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Fair long-term care insurance
Leroux, Marie-Louise; Pestieau, Pierre; Ponthiere, Grégory - 2019
The study of optimal long-term care (LTC) social insurance is generally carried out under the utilitarian social criterion, which penalizes individuals who have a lower capacity to convert resources into well-being, such as dependent elderly individuals or prematurely dead individuals. This...
Persistent link: https://www.econbiz.de/10012052766
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Compensation in Personal Injury Cases: Mean or Median Income?
Danziger, Leif; Katz, Eliakim - 2019
Courts typically base compensation for loss of income in personal injury cases on either mean or median work income …-whole (full) compensation and mean and median work incomes. Given that consumption uncertainty associated with compensation … generally exceeds that associated with work income, we show that the appropriate make-whole compensation exceeds mean (and …
Persistent link: https://www.econbiz.de/10012052854
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How Do Employers Use Compensation History?: Evidence from a Field Experiment
Barach, Moshe A.; Horton, John - 2017
We report the results of a field experiment in which treated employers could not observe the compensation history of …
Persistent link: https://www.econbiz.de/10011698726
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Compensation for Loss of Work Income in Personal Injury Cases
Danziger, Leif; Katz, Eliakim - 2017
What is the appropriate lump-sum compensation for loss of work income in personal injury cases? Since generally future … work income is not known with certainty, compensation for its loss must be based on statistical considerations. Typically … economic theory to address this issue. We find that the relation between the appropriate compensation and the mean and median …
Persistent link: https://www.econbiz.de/10011698737
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Responsibility and Redistribution: The Case of First Best Taxation
Tungodden, Bertil - 2001
this interpretation of the ethics of responsibility and the ethics of compensation within a broad class of economic … ethics of compensation, and we report an impossibility result that clarifies the source of this conflict. …
Persistent link: https://www.econbiz.de/10010315132
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Optimal incentive contracts for a worker who envies his boss
Dur, Robert; Glazer, Amihai - 2004
A worker's utility may increase in his own income, but envy can make his utility decline with his employer's income. Such behavior may call for high-powered incentives, so that increased effort by the worker little increases the income of his employer. This paper uses a principalagent model to...
Persistent link: https://www.econbiz.de/10010261264
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Entrepreneurship, economic conditions, and the Great Recession
Fairlie, Robert W. - 2013
The Great Recession resulted in many business closings and foreclosures, but what effect did it have on business formation? On the one hand, recessions decrease potential business income and wealth, but on the other hand they restrict opportunities in the wage/salary sector leaving the net...
Persistent link: https://www.econbiz.de/10010291884
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Risk, Intermediate Input Prices and Missing Deflation During the Great Recession
Kara, Engin; Pirzada, Ahmed Jamal - 2015
During the Great Recession, despite the large fall in output, inflation did not fall much. This is known as the missing deflation puzzle. In this paper, we develop and estimate a New Keynesian Dynamic Stochastic General Equilibrium model to provide an explanation for the puzzle. The new model...
Persistent link: https://www.econbiz.de/10011307091
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Informal Care and the Great Recession
Costa-i-Font, Joan; Karlsson, Martin; Øien, Henning - 2015
Macroeconomic downturns can have an important impact on the availability of informal and formal long-term care. This paper investigates how the market for informal care changed during and after the Great Recession in Europe. We use data from the Survey of Health, Aging and Retirement in Europe,...
Persistent link: https://www.econbiz.de/10011307093