In this model of education, where individuals are exposed both to educational risk and to wage risk within the skilled … enhancing the quality of education. The necessary expenditures are optimally financed by regressive tuition fees and the net …

the period of turmoil. We highlight risk attitude as an important selection mechanism, beyond education and other … observable characteristics, which explains: (i) why some women did not alter their fertility decisions during these uncertain …

In this paper, we conduct an empirical study of how uncertainty alters fertility behavior. The precautionary motive for … saving predicts that an increase in income uncertainty increases saving by reducing both consumption and fertility. We … countries for the period from 1996 to 2017. The empirical findings indicate that uncertainty decreases the fertility rate, as …

potentially loss averse around their expected outcome make risky investments in education and we draw on optimal tax theory to …Justification for policies to encourage investments in education, particularly for individuals at the lower end of the … preferences, standard risk aversion and labour supply behaviour, (ii) the risk properties of education, and (iii) the degree of …

Wall, East Germany experienced an unprecedented temporary drop in fertility driven by economic uncertainty. We exploit this … that emotional attachment and risk attitudes play important roles in the fertility-crime relationship. Finally, results for …

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 …, because combining skill-specific tuition fees and public education spending provide both insurance and redistribution at lower …

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. Education subsidies are not used for social insurance, but are only targeted … at off-setting the distortions of the labor tax and internalizing a fiscal externality. Both optimal education subsidies …