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The effect of better information on income inequality
Eckwert, Bernhard; Zilcha, Itzhak - 2003
which is used for updating beliefs. Thus, a better information system affects the distribution of human capital in each …) If the relative measure of risk aversion is less (more) than 1 then more information raises (reduces) income inequality …. (b) When a risk sharing market is available better information results in higher inequality regardsless of the measure …
Persistent link: https://www.econbiz.de/10001772788
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Risk Sharing in Defined-Contribution Funded Pension Systems
Beetsma, Roel M. W. J. - 2011
This paper explores the introduction of collective risk-sharing elements in defined contribution pension contracts. We consider status-contingent, age-contingent and asset contingent risk-sharing arrangements. All arrangements raise aggregate welfare, as measured by equivalent variations. While...
Persistent link: https://www.econbiz.de/10013118167
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Social security and risk sharing
Gottardi, Piero; Kubler, Felix - 2006
In this paper we identify conditions under which the introduction of a pay-as-you-go social security system is ex-ante Pareto-improving in a stochastic overlapping generations economy with capital accumulation and land. We argue that these conditions are consistent with many calibrations of the...
Persistent link: https://www.econbiz.de/10003335808
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Welfare migration : is the net fiscal burden a good measure of its economic impact on the welfare of the native-born population?
Razin, Asaf; Tsadḳah, Efrayim - 2004
Migration of young workers (as distinct from retirees), even when driven in by the generosity of the welfare state, slows down the trend of increasing dependency ratio. But, even though low-skill migration improves the dependency ratio, it nevertheless burdens the welfare state. Recent studies...
Persistent link: https://www.econbiz.de/10002226381
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Estate and capital gains taxation : efficiency and political economy considerations
Aura, Saku - 2004
In this paper a simple dynastic overlapping-generations model with homogeneous agents is used to analyze the optimal use of capital income tax, labor income tax and estate tax. The results of this analysis add to the conventional wisdom about capital income taxation: while it is true that in the...
Persistent link: https://www.econbiz.de/10002127085
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Fiscal policy, monopolistic competition, and finite lives
Heijdra, Ben J.; Ligthart, Jenny E. - 2006
The paper studies the short-run, transitional, and long-run output effects of permanent and temporary shocks in public consumption under various financing methods. To this end, a dynamic macroeconomic model for a closed economy is developed, which features a perfectly competitive final goods...
Persistent link: https://www.econbiz.de/10003293785
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Ageing, funded pensions and the Dutch economy
Bovenberg, Ary Lans; Knaap, Thijs - 2005
This paper attempts to paint a coherent picture of the effects of ageing on a small, open, economy with large pension funds in different institutional settings. Quantitative scenarios are projected with an applied computable general equilibrium model with institutional details. We find that...
Persistent link: https://www.econbiz.de/10002631941
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Earlier or later : a general equilibrium analysis of bringing forward an already announced tax reform
Honerkamp, Josef; Moog, Stefan; Raffelhüschen, Bernd - 2004
The German Income Tax Reform 2000, which announced a reduction in income tax rates to be implemented in a series of three stages, was welcomed by the public as a step towards unleashing lurking growth potentials. Nonetheless, in the course of the year 2001 a dispute arose, centering around the...
Persistent link: https://www.econbiz.de/10002401515
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Macroeconomic effects of social security privatization in a small unionized economy : presented at the CESifo/DELTA Conference on Strategies for Reforming Pension Schemes, November...
Adam, Antonis - 2004
This paper analyses the effects of a pension system privatization in a unionized economy. Using an overlapping-generations framework we show that in an environment characterized by unemployment, a reform towards a private pension system in the steady state may result in lower levels of...
Persistent link: https://www.econbiz.de/10002514757
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The transitional dynamics of fiscal policy in small open economies
Heijdra, Ben J.; Ligthart, Jenny E. - 2006
The paper studies the dynamic macroeconomic effects of fiscal shocks of various duration (permanent and temporary) under different financing methods (lump-sum tax and government debt). To this end, we develop an intertemporal macroeconomic model for a small open economy, featuring monopolistic...
Persistent link: https://www.econbiz.de/10003398694