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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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The optimal design of pensions and financial education, when individuals are biased and naive
Canta, Chiara; Leroux, Marie-Louise - 2022
This paper studies the optimal design of a pension system together with publicly-provided individualized financial education. Agents can invest in both a risky and a non risky asset and can either under- or over-estimate the expected return of the risky asset. We show that, under perfect...
Persistent link: https://www.econbiz.de/10013365807
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Precautionary Principle, Robustness and Optimal Taxes for a Stock Pollutant with Multiplicative Risk
Gonzalez, Fidel - 2008
to regulate a stock pollutant, and I analyze its effect on expected steady state pollution taxes, stocks and welfare. The … in either uncertainty about the model or risk about abatement cost increases expected steady state pollution taxes; (2) a … uncertainty or higher multiplicative risk and (3) the effect on expected steady state pollution taxes and stock of introducing …
Persistent link: https://www.econbiz.de/10012770526
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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. - In: De economist : Netherlands economic review ; quarterly … 167 (2019) 2, pp. 177-213
Persistent link: https://www.econbiz.de/10012285112
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The government may want to encourage price-discrimination by income
Reinstein, David - 2015
Persistent link: https://www.econbiz.de/10011393183
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Efficient child care subsidies
Ho, Christine; Pavoni, Nicola - 2016 - This version: March 8 , 2016
Persistent link: https://www.econbiz.de/10011805834
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Optimal redistribution in the presence of signaling
Bastani, Spencer; Blumḳin, Tomer; Micheletto, Luca - 2021
We analyze optimal redistribution in the presence of labor market signaling where innate productive ability is not only unobserved by the government, but also by prospective employers. Signaling in both one and two dimensions is considered, where in the latter case firms have an informational...
Persistent link: https://www.econbiz.de/10012599061
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Redistribution of return inequality
Schulz, Karl - 2021
Wealthier households obtain higher returns on their investments than poorer ones. How should the tax system account for this return inequality? I study capital taxation in an economy in which return rates endogenously correlate with wealth. The leading example is a financial market, where the...
Persistent link: https://www.econbiz.de/10012499593
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Relative consumption concerns and the optimal tax mix
Eckerstorfer, Paul - 2011
This articles studies the optimal tax mix (taxes on income and commodities) under asymmetric information in a two-type model, when individuals make relative consumption comparisons. The model includes both positional and nonpositional goods, taking into account the fact that relative concerns...
Persistent link: https://www.econbiz.de/10011344843
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Optimal wage redistribution in the presence of adverse selection in the labor market
Bastani, Spencer; Blumḳin, Tomer; Micheletto, Luca - 2015
In this paper we allude to a novel role played by the non-linear income tax system in the presence of adverse selection in the labor market due to asymmetric information between workers and firms. We show that an appropriate choice of the tax schedule enables the government to affect the wage...
Persistent link: https://www.econbiz.de/10011289068