optimal redistribution and social protection policies are in place, globalization necessarily improves social welfare …

voluntarily supplied public goods; specifically, we show that not only an income inequality-raising redistribution policy but also … allowed, an inequality-raising redistribution policy is no longer effective and leaves social welfare unchanged …

improving in the long run. Consistent with the theory of second-best, the two distortions in this context work to correct the …

Building on the existing literature that examines the extent of redistribution in the Social Security system as a whole … inequality. Second, we find that this result is driven largely by the lack of redistribution across the middle and upper part of … distribution. Third, in cases where redistribution does occur, we find it is not efficiently targeted: many high income households …