how these losses are distributed across households and how they are affected by social insurance policies. We find that … insurance benefits are cut from 50% to 10%. The fact that welfare losses fall with wealth, and that in our model (as in the data … insurance system unequivocally helps low-wealth job losers, but hurts households that keep their job, even in a version of the …

provided unemployment insurance (UI) and loans against pension accounts changes over time in a model where unemployment may …

The purpose of the present note is to explore the structure of optimal income taxation/redistribution in an economy …, of course, an additional incentive for income redistribution from wealthy to poor citizens is created and the logical …

compare education to other tax-transfer schemes designed to achieve distributional objectives. While equity-efficiency trade … attendance, labor supply, wage determination, and aggregate production, which is used to compare alternative redistribution … subsidy of education, because it both raises GDP and creates a more equal income distribution …

earnings, Social Security is generally thought to be progressive, providing However, much of the intra-cohort redistribution in … those who concentrate their earnings in 35 or fewer years. This paper studies the redistribution accomplished in the … redistributive by some measures, and less redistributive by others. Because much of the redistribution that occurs through Social …

earnings dynamics implies a substantially better fit of the evolution of cross-sectional consumption inequality over the life … cycle and of the individual-level degree of consumption insurance against persistent earnings shocks. The richer earnings … process also implies lower welfare costs of earnings risk …

This paper studies consumption and labor supply in a model where agents have partial insurance and face risk and …

to predictable changes in income (and family circumstances), and insurance value, which occurs when taxes and transfers … redistributive value of state tax-and-transfer programs sharply declines with income, but that the insurance value of transfers is …. Hence, the insurance value mitigates the incentives for mobility that would "undo" state redistributive spending …

-led redistribution and greater acceptance of wage inequality (e.g., United States versus Western Europe). If individual nations evolve …-led redistribution to the poor. These patterns suggest that short-run inequality shocks can be reinforced in the labor market but do not …In cross-sectional studies, countries with greater income inequality typically exhibit less support for government …