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Efficiency in Family Bargaining : Living Arrangements and Caregiving Decisions of Adult Children and Disabled Elderly Parents

Pezzin, Liliana E. - 2007

In this paper, we use a two-stage bargaining model to analyze the living arrangement of a disabled elderly parent and the assistance provided to the parent by her adult children. The first stage determines the living arrangement: the parent can live in a nursing home, live alone in the...

Persistent link: https://www.econbiz.de/10012777689

Asymmetric Information Renders Minimum Wages Less Harmful

Schöb, Ronnie - 2009

We show that a minimum wage introduced in the presence of asymmetric information about worker productivities will lead to lower unemployment levels than predicted by the standard labour market model with heterogeneous labour and symmetric information

Persistent link: https://www.econbiz.de/10013160522

Marriage and Consumption Insurance : What's Love Got to Do with it?

Hess, Gregory D. - 2021

This paper explores the role of marriage when markets are incomplete so that individuals cannot diversify their … love. Is love more important to a lasting marriage than economic compatibility? To answer this question, I develop a simple … model where rational individuals meet, enjoy the economic and non-pecuniary benefits of marriage (i.e., love), and then must …

Persistent link: https://www.econbiz.de/10013320884

A Theory of Tolerance

Corneo, Giacomo - 2007

We develop an economic theory of tolerance where lifestyles and traits are invested with symbolic value by people. Value systems are endogenous and taught by parents to their children. In conjunction with actual behavior, value systems determine the esteem enjoyed by individuals. Intolerant...

Persistent link: https://www.econbiz.de/10012777299

Longevity and Aggregate Savings

Sheshinski, Eytan - 2021

For the last fifty years, countries in Asia and elsewhere witnessed a surge in aggregate savings per capita. Some empirical studies attribute this trend to the increases in life longevity of the populations of these countries. It has been argued that the rise in savings is short-run, eventually...

Persistent link: https://www.econbiz.de/10013317371

Real Options and Human Capital Investment

Jacobs, Bas - 2007

This paper extends the standard human capital model with real options. Real options influence investment behavior when risky investments in human capital are irreversible and individuals can affect the timing of the investment. Option values make individuals more reluctant to invest in human...

Persistent link: https://www.econbiz.de/10012776903

Optimal Taxation of Risky Human Capital

Jacobs, Bas - 2009

In a model with ex-ante homogenous households, earnings risk and a general earnings function, we derive the optimal linear labor tax rate and optimal linear education subsidies. The optimal income tax trades off social insurance against incentives to work and to invest in human capital....

Persistent link: https://www.econbiz.de/10012765194

Insuring Educational Risk : Opportunities versus Income

Schindler, Dirk - 2008

We develop a model of education where individuals face educational risk. Successfully entering the skilled labor sector depends on individual effort in education and public resources, but educational risk still causes (income) inequality. We show that an optimal public policy consists of...

Persistent link: https://www.econbiz.de/10012771202

Is Prescott Right? Welfare State Policies and the Incentives to Work, Learn and Retire

Jacobs, Bas - 2008

This paper bolsters Prescott's (2004) claim that high taxes are responsible for lacklustre labor market performance in continental European countries. We develop a lifecycle model with endogenous skill formation, endogenous labor supply, and endogenous retirement. Labor taxation distorts not...

Persistent link: https://www.econbiz.de/10012772137

Educational and Wage Risk : Social Insurance vs. Quality of Education

Schindler, Dirk; Weigert, Benjamin - 2021

In this model of education, where individuals are exposed both to educational risk and to wage risk within the skilled sector, successful graduation depends both on individual effort to study and on public resources. We show that insuring the present risks is a dichotomic task: Wage risk is...

Persistent link: https://www.econbiz.de/10013316416

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