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Optimal Wage Redistribution in the Presence of Adverse Selection in the Labor Market
Bastani, Spencer - 2014
In this paper we allude to a novel role played by the non-linear income tax system in the presence of adverse selection in the labor market due to asymmetric information between workers and firms. We show that an appropriate choice of the tax schedule enables the government to affect the wage...
Persistent link: https://www.econbiz.de/10013047321
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Minimum Wages and the Labor Market Effects of Immigration
Edo, Anthony - 2017
We exploit the non-linearity in the level of minimum wages across US States created by the coexistence of federal and … state regulations to investigate how minimum wages affect the labor market impact of immigration. We find that the effects ….S. States with low minimum wages (i.e., where the federal minimum wage is binding). The results are robust to instrumenting …
Persistent link: https://www.econbiz.de/10012951556
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Wages and Employment : The Role of Occupational Skills
Girsberger, Esther Mirjam - 2018
How skills acquired in vocational education and training (VET) affect wages and employment is not clear. We develop and … wages. We find that firms value cognitive skills on average almost twice as much as interpersonal and manual skills, and … they prize complementarity in cognitive and interpersonal skills. The average return to VET skills in hourly wages is 9 …
Persistent link: https://www.econbiz.de/10012912688
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The Welfare Gains of Age Related Optimal Income Taxation
Bastani, Spencer - 2010
Using a calibrated overlapping generations model we quantify the welfare gains of an age dependent income tax. Agents face uncertainty regarding future abilities and can by saving transfer consumption across periods. The welfare gain of switching from an age-independent to an age-dependent...
Persistent link: https://www.econbiz.de/10013136607
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Distribution-Neutral Welfare Ranking-Extending Pareto Principle
Marjit, Sugata - 2017
The well known Pareto criterion used in the context of efficiency and welfare has to do with absolute changes whereas in every domain of economic behaviour inequality or relative changes has become a major concern. We propose an inequality-preserving or distribution neutral Pareto criterion-the...
Persistent link: https://www.econbiz.de/10012958456
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Soft Paternalism, Merit Goods, and Normative Individualism
Kirchgässner, Gebhard - 2014
Paternalism is an attempt to influence individuals' decisions for their own benefit, even if there are no third parties involved. This seems to contradict normative individualism, which provides the general orientation to our modern democracies. Soft or libertarian paternalism accepts the...
Persistent link: https://www.econbiz.de/10013055992
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Informational Requirements of Nudging
Benkert, Jean-Michel - 2015
A nudge is a non-coercive paternalistic intervention that attempts to improve choices by manipulating the framing of a decision problem. As any paternalism, it faces the difficulty of determining the appropriate welfare criterion. We propose a welfare-theoretic foundation for nudging similar in...
Persistent link: https://www.econbiz.de/10013023118
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Welfare Effects of Short-Time Compensation
Braun, Helge - 2014
We study welfare effects of public short-time compensation (STC) in a model in which firms respond to idiosyncratic profitability shocks by adjusting employment and hours per worker. Introducing STC substantially improves welfare by mitigating distortions caused by public unemployment insurance...
Persistent link: https://www.econbiz.de/10013043593
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Competition for Viewers and Advertisers in a TV Oligopoly
Kind, Hans Jarle; Nilssen, Tore; Sorgard, Lars - 2021
We consider a model of a TV oligopoly where TV channels transmit advertising and viewers dislike such commercials. We show that advertisers make a lower profit the larger the number of TV channels. If TV channels are sufficiently close substitutes, there will be underprovision of advertising...
Persistent link: https://www.econbiz.de/10013317313
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Inequity Aversion, Welfare Measurement and the Gini Index
Schmidt, Ulrich - 2018
Over the last decades, research in behavioural economics has demonstrated that individual welfare (utility), as relevant for economic decision making, depends not only on absolut but also on distributional aspects. Moreover, evidence is gathering that something similar holds for aggregate...
Persistent link: https://www.econbiz.de/10012916152