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A soul's view of the optimal population problem
De la Croix, David; Doepke, Matthias - 2021
A long-standing challenge for welfare economics is to develop welfare criteria that can be applied to allocations with different population levels. Such a criterion is essential to resolve the optimal population problem, i.e., the tradeoff between population size and the welfare of each person...
Persistent link: https://www.econbiz.de/10012493350
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Foundations of utilitarianism under risk and variable population
Spears, Dean; Zuber, Stéphane - 2021
Utilitarianism is the most prominent family of social welfare functions. We present three new axiomatic ….'s (1998) Expected Critical-Level Generalized Utilitarianism (ECLGU) is equivalent to a new axiom holding that it is better to … novel characterizations extend classic axiomatizations of utilitarianism from settings with either social risk or variable …
Persistent link: https://www.econbiz.de/10012583668
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Earmarking and the political support of fat taxes
Cremer, Helmuth; Goulão, Catarina; Roeder, Kerstin - 2015
A fat and a healthy good provide immediate gratification, and cause health costs or benefits in the long run, which are misperceived. Additionally, the fat good (healthy good) increases (decreases) health care costs by increasing (decreasing) the probability of suffering from a chronic disease...
Persistent link: https://www.econbiz.de/10011336980
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Are two tax rates better than one?
FitzRoy, Felix R.; Jin, Jim Y. - 2009
Should two-band income taxes be progressive given a general income distribution? We provide a negative answer under utilitarian and max-min welfare functions. While this result clarifies some ambiguities in the literature, it does not rule out progressive taxes in general. If we maximize total...
Persistent link: https://www.econbiz.de/10003845516
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Dynamic efficiency and pareto optimality in a stochastic OLG model with production and social security
Barbie, Martin; Hagedorn, Marcus; Kaul, Ashok - 2000
We analyze the interaction between risk sharing and capital accumulation in a stochastic OLG model with production. We give a complete characterization of interim Pareto optimality. Our characterization also subsumes equilibria with a PAYG social security system. In a competitive equilibrium...
Persistent link: https://www.econbiz.de/10011339089
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Government debt as insurance against macroeconomic risk
Barbie, Martin; Hagedorn, Marcus; Kaul, Ashok - 2001
Is there a role for debt beyond curing overaccumulation of capital? Does dynamic efficiency and the infeasibility of debt Ponzi schemes eliminate any Pareto-improving role for a government in a competitive economy with complete markets? Is there an optimal maturity structure of public debt?...
Persistent link: https://www.econbiz.de/10011405711
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Fostering within-familiy human capital investment : an intergenerational perspective of social security
Barbie, Martin; Hagedorn, Marcus; Kaul, Ashok - 2002
We develop a general equilibrium stochastic OLG model with heterogenous households. Households differ with respect to their productivity. Productivity depends stochastically on parents' unobservable investment in their child's human capital and an aggregate productivity shock. We introduce a...
Persistent link: https://www.econbiz.de/10011415587
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Inequality and market concentration, when shareholding is more skewed than consumption
Gans, Joshua; Leigh, Andrew; Schmalz, Martin C.; … - 2018
Economic theory suggests that monopoly prices hurt consumers but benefit shareholders. But in a world where individuals …
Persistent link: https://www.econbiz.de/10011958679
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Preferences for redistribution and pensions : what can we learn from experiments?
Tausch, Franziska; Potters, Jan; Riedl, Arno - 2010
Redistribution is an inevitable feature of collective pension schemes and economic experiments have revealed that most people have a preference for redistribution that is not merely inspired by self-interest. Interestingly, little is known on how these preferences interact with preferences for...
Persistent link: https://www.econbiz.de/10008780004
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Inequality in an OLG economy with heterogeneous cohorts and pension systems
Tyrowicz, Joanna; Makarski, Krzysztof; Bielecki, Marcin - 2018
We analyze the consumption and wealth inequality in an OLG model with mandatory pension systems. Our framework features within cohort heterogeneity of endowments and heterogeneity of preferences. We allow for population aging and gradual decline in TFP growth. We show four main results. First,...
Persistent link: https://www.econbiz.de/10011876189