lower tail. We further document substantial gender differences in average earnings and inequality over the life-cycle. While …

and savings decisions of singles and married couples. Partial insurance against wage and employment shocks is provided by … social programs, savings and the labor supplies of all adult household members. The optimal policy mix focuses mainly on … Social Assistance, which provides a permanent universal household income oor, with a minor role for temporary earnings …

of singles and married couples. Partial insurance against wage and employment shocks is provided by social programs …, savings, and the labor supplies of all adult household members. We show that the optimal policy mix is dominated by moderately … generous social assistance, which guarantees a permanent universal minimum household income, with only a minor role for …

lifetime tax reform linking annual taxes to previous employment could improve the system's insurance capabilities, albeit at … the cost of a lower employment rate. …