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How Much Do Means-Tested Benefits Reduce the Demand for Annuities?
Butler, Monika - 2011
We analyze the effect of means-tested benefits on annuitization decisions. Most industrialized countries provide a subsistence level consumption floor in old age, usually in the form of means-tested benefits. The availability of such means-tested payments creates an incentive to cash out...
Persistent link: https://www.econbiz.de/10013123214
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Optimum Taxation of Life Annuities
Brunner, Johann K. - 2006
The market for private life annuities is characterised by adverse selection, that is, contracts offer lower than fair payoffs to individuals with low life expectancy. Moreover, life expectancy and income have been found to be positively correlated. The paper shows that a linear tax on annuity...
Persistent link: https://www.econbiz.de/10012781543
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Stimulating Annuity Markets
Heijdra, Ben J. - 2014
We study the short-, medium-, and long-run implications of stimulating annuity markets in a dynamic general-equilibrium overlapping-generations model. We find that beneficial partial-equilibrium effects of stimulating annuity markets are counteracted by negative general-equilibrium...
Persistent link: https://www.econbiz.de/10013051616
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Commodity Tax Structure Under Uncertainty in a Perfectly Competitive Market
Goerke, Laszlo - 2011
In a partial equilibrium setting without price uncertainty, the balanced-budget substitution of an ad valorem tax on output for a specific (unit) tax can enhance welfare in imperfectly competitive markets and is without impact in a competitive world. This paper demonstrates that a substitution...
Persistent link: https://www.econbiz.de/10013130099
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Global Warming and Extreme Events : Rethinking the Timing and Intensity of Environmental Policy
Chen, Yu-Fu - 2010
-probability extreme events on environmental policy in a continuous-time real options model with “tail risk”. In a nutshell, our results … indicate the importance of tail risk and call for foresighted pre-emptive climate policies …
Persistent link: https://www.econbiz.de/10013139799
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Information, Uncertainty, and Subjective Entitlements in Bargaining
Karagözoğlu, Emin - 2010
More often than not production processes are the joint endeavor of people having different abilities and productivities. Such production processes and the associated surplus production are often not fully transparent in the sense that the relative contributions of involved agents are blurred;...
Persistent link: https://www.econbiz.de/10013139800
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Optimal Income Taxation with Uncertain Earnings : A Synthesis
Boadway, Robin - 2011
ex ante identical households and the no-risk case with heterogeneous abilities come out as special cases …
Persistent link: https://www.econbiz.de/10013117794
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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 …
Persistent link: https://www.econbiz.de/10013118167
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Failure of Ad Valorem and Specific Tax Equivalence Under Uncertainty
Goerke, Laszlo - 2012
Applying a framework of perfect competition under uncertainty, we contribute to the discussion of whether or not ad valorem taxes and specific taxes are equivalent. While this equivalence holds without price uncertainty, we show that ad valorem taxes and specific taxes are “almost never”...
Persistent link: https://www.econbiz.de/10013100011
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Why are Educated and Risk-Loving Persons More Mobile Across Regions?
Bauernschuster, Stefan - 2012
Why are better educated and more risk-friendly persons more mobile across regions? To answer this question, we use … patterns. Our findings indicate that risk-loving and skilled people are more mobile over longer distances because they are more … distance-related migration costs cannot explain the lower distance sensitivity of educated and risk-loving individuals …
Persistent link: https://www.econbiz.de/10013100274