Showing 1 - 10 of 1,152
background or insured risks. (ii) Full risk coverage by the welfare state can only be optimal in a costless welfare state. (iii …
Persistent link: https://www.econbiz.de/10011409382
Migration of young workers (as distinct from retirees), even when driven in by the generosity of the welfare state, slows down the trend of increasing dependency ratio. But, even though low-skill migration improves the dependency ratio, it nevertheless burdens the welfare state. Recent studies...
Persistent link: https://www.econbiz.de/10011450740
markets are missing. The main results are: (i) outsourcing raises unemployment and labor income risk of unskilled workers; (ii …
Persistent link: https://www.econbiz.de/10003790635
The goal of this research is to explore whether actual lottery revenues are sensitive to scarcity, as measured by intra-monthly variation in financial resources. Exogenous paydays of social security benefits are employed to generate the intra-monthly variation in financial resources. Using two...
Persistent link: https://www.econbiz.de/10012064536
This paper proposes and analyzes a model of a European economy with three overlapping generations, redistributive social security, and public universities without tuition. Individuals differ ex ante. The effect of wage tax rate on occupational choice and the voting equilibrium of wage tax rate...
Persistent link: https://www.econbiz.de/10011398016
ex ante identical households and the no-risk case with heterogeneous abilities come out as special cases. -- optimal … income ; taxation ; wage risk …
Persistent link: https://www.econbiz.de/10009383580
In a model with ex-ante homogenous households, earnings risk and a general earnings function, we derive the optimal … (overinvestment) in education due to risk. Education policy unambiguously allows for more social insurance if education is a risky … activity. However, if education hedges against labor market risk, optimal tax rates could be lower than without education …
Persistent link: https://www.econbiz.de/10003806742
entail beneficial risk-sharing and diversification features However, depending on the pension formula these features vary … significantly for different types of PAYG schemes. We derive individually most-preferred PAYG rules (represented by a risk …
Persistent link: https://www.econbiz.de/10011398914
The expansion of welfare-state arrangements is seen as the result of dynamic interaction between market behaviour and political behaviour, often with considerable time lags, sometimes generating either virtuous or vicious circles. Such interaction may also involve induced (endogenous) changes in...
Persistent link: https://www.econbiz.de/10011508052
Recent theoretical work shows that precautionary savings increase in response to an increase in first-order risk. In … that an immigrant will increase his remittances in response to a first-order risk decrease in future income. Using changes … in the size and generosity of the welfare state as a measure of changes in future income risk, we empirically test the …
Persistent link: https://www.econbiz.de/10011300358