Showing 1 - 10 of 12
Persistent link: https://www.econbiz.de/10012017997
This paper extends the standard model of optimum commodity taxation (Ramsey (1927) and Diamond-Mirrlees (1971)) to a competitive economy in which some markets are inefficient due to asymmetric information. As in most insurance markets, consumers impose varying costs on suppliers but firms cannot...
Persistent link: https://www.econbiz.de/10010263992
For the last fifty years, countries in Asia and elsewhere witnessed a surge in aggregate savings per capita. Many empirical studies attribute this trend to the highly significant increases in life longevity of the populations of these countries. Some argue that the rise in savings is shortrun,...
Persistent link: https://www.econbiz.de/10010264001
Regular annuities provide payment for the duration of an owner's lifetime. Period-Certain annuities provide additional payment after death to a beneficiary provided the insured dies within a certain period after annuitization. It has been argued that the bequest option offered by the latter is...
Persistent link: https://www.econbiz.de/10010264015
An effective policy scheme to overcome the suboptimal low provision levels of global public goods is developed in this paper. By suggesting a decentralized approach to raise environmental public good provision levels we take account of the lack of a coercive global authority that is able to...
Persistent link: https://www.econbiz.de/10010264177
It has been argued that increased life expectancy raises the rate of return on education, causing a rise in the investment in education followed by an increase in lifetime labor supply. Empirical evidence of these relations is rather weak. Building on a lifecycle model with uncertain longevity,...
Persistent link: https://www.econbiz.de/10010276619
Vortrag von Prof. Eytan Sheshinski Sir Isaac Wolfson Professor of Public Finance Depart-ment of Economics, The Hebrew University of Jerusalem
Persistent link: https://www.econbiz.de/10011693979
A central question for pension design is how benefits should vary with the age of retirement beyond early eligibility age. It is often argued that in order to be neutral with respect to individual retirement decisions benefits should be actuarially fair, that is, the present value of additional...
Persistent link: https://www.econbiz.de/10010315667
When information on longevity (survival functions) is unknown early in life, individuals have an interest to insure themselves against future 'risk-class' classification. Accordingly, the First-Best typically involves transfers across states of nature. Competitive equilibrium cannot provide such...
Persistent link: https://www.econbiz.de/10010315690
With varying aptitudes in different occupations, individuals typically maximize income by specializing in one occupation which promises the highest income. Due to numerous labor market imperfections and uncertainties, the choice of best occupation is accomplished with only partial success. We...
Persistent link: https://www.econbiz.de/10010315726