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Poverty and economic behavior : gambling at social security paydays
Dahan, Momi - 2019 - This version: 15/7/2019
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
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Aging, social security design, and capital accumulation
Dedry, Antoine; Onder, Harun; Pestieau, Pierre - 2015
This paper analyzes the impact of aging on capital accumulation and welfare in a country with a sizable unfunded social security system. Using a two-period overlapping generation model with potentially endogenous retirement decisions, the paper shows that the type of aging, i.e. declining...
Persistent link: https://www.econbiz.de/10011392492
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On the political economy of social security and public education
Poutvaara, Panu - 2001
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
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Taxing pensions
Cremer, Helmuth; Pestieau, Pierre - 2016 - March 2016, revised May 2016
There exists a wide variety of tax treatments of pensions across the world. And the reasons for such a range of regimes are not clear. This note reviews the general principles of pension taxes and analyses the theoretical foundations of why pension incomes ought to be taxed specifically. To do...
Persistent link: https://www.econbiz.de/10011482705
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Aging, social security design, and capital accumulation
Dedry, Antoine; Onder, Harun; Pestieau, Pierre - 2016
This paper analyzes the impact of demographic aging on capital accumulation and welfare in economies with unfunded pensions. Using a two-period overlapping generation model with potentially endogenous retirement decisions, it shows that both the type of aging, i.e. declining fertility or...
Persistent link: https://www.econbiz.de/10011499785
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The political economy of social security
Casamatta, Georges; Cremer, Helmuth; Pestieau, Pierre - 2000
We consider a two-period overlapping generations model in which individual voters differ by age and by productivity. In such a setting, a redistributive Pay-As-You-Go system is politically sustainable, even when the interest rate is larger than the rate of population growth. The workers with...
Persistent link: https://www.econbiz.de/10009781530
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The macroeconomic effects of longevity risk under private and public insurance and asymmetric information
Heijdra, Ben J.; Jiang, Yang; Mierau, Jochen O. - 2017
We study the impact of a fully-funded social security system in an economy with heterogeneous consumers. The unobservability of individual health conditions leads to adverse selection in the private annuity market. Introducing social security - which is immune to adverse selection - affects...
Persistent link: https://www.econbiz.de/10011761551
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Debt recovery in firm liquidations : do liquidation trustees matter?
Cepec, Jaka; Grajzl, Peter; Zajc, Katarina - 2016
Insolvency systems play a crucial role in protection of creditor rights, yet micro-level empirical evidence on the … functioning of insolvency regimes worldwide is sparse. We investigate whether creditors' recovery of outstanding claims, a measure … of ex-post efficiency of an insolvency regime, depends on the characteristics of the trustee delegated the administration …
Persistent link: https://www.econbiz.de/10011518156
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The impact of delay : evidence from formal out-of-court restructuring
Srhoj, Stjepan; Kovač, Dejan; Shapiro, Jacob N.; … - 2021
Bankruptcy restructuring procedures are used in most legal systems to decide the fate of businesses facing financial hardship. We study how bargaining failures in such procedures impact the economic performance of participating firms in the context of Croatia, which introduced a "pre-bankruptcy...
Persistent link: https://www.econbiz.de/10012603137
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Advantageous smallness in contests
Amegashie, J. Atsu - 2021
A standard result in contests is that a higher-ability player has a higher probability of winning the prize than a lower-ability player. Put differently, a stronger player has an advantage over a weaker player in a contest. There are very few exceptions to this standard result. I consider a...
Persistent link: https://www.econbiz.de/10012669006