wages. We estimate a negative connection between establishments' wage cyclicality and their employment cyclicality, thereby … cycle. While wages of the median establishment are moderately procyclical, 36 percent of establishments have countercyclical …

provide a novel decomposition of labor income tax formulas into a redistribution and an insurance component. The latter is … capital tax is non-zero and trades off redistribution and insurance against savings distortions. Our quantitative results … reveal that the insurance component contributes significantly to optimal labor tax rates and provides an informative lower …

-free physical capital and risky human capital. Households have access to a complete set of credit and insurance contracts, but their … households less than half of human capital risk is insured and the welfare losses due to the lack of insurance range from 3 … parameters have non-negligible effects on equilibrium insurance and welfare, but the result that young households are severely …

In a model where consumers have quasi-hyperbolic preferences, we compare immediate subsidies paid for health …-conscious consumption and future subsidies rewarding good health outcome. We characterize the subsidy rates which implement the unbiased …

decreases, and the two have different implications for human health. An alternative measure for net current biological …

natives' wages, and that skilled immigration can actually increase them. We develop a model with regional labor markets and … but skill-biased on aggregate, skilled immigration can increase absolute and relative skilled wages. Therefore, firm … natives' wages. …

Western Europe, but by lower employment rates in Eastern and Southern Europe. …

coordinated production programs, featuring pooled resources - and also via adaptive procedures. Extra value - or an insurance …