Showing 1 - 10 of 295
Persistent link: https://www.econbiz.de/10003830533
We specify a structural life-cycle model of consumption, labour supply and job mobility in an economy with search frictions that allows us to distinguish between different sources of risk and to estimate their effects. The sources of risk are shocks to productivity, job destruction, the process...
Persistent link: https://www.econbiz.de/10003755963
Persistent link: https://www.econbiz.de/10003837029
Persistent link: https://www.econbiz.de/10003444188
Persistent link: https://www.econbiz.de/10003394279
This paper provides a life-cycle framework for weighing up the insurance value of disability benefi ts against the incentive cost. Within this framework, we estimate the life-cycle risks that individuals face in the US, as well as the parameters governing the disability insurance program, using...
Persistent link: https://www.econbiz.de/10003964321
This paper examines trends in household consumption and saving behaviour in each of the last three recessions in the UK. The 'Great Recession' has been different from those that occurred in the 1980s and 1990s. It has been both deeper and longer, but also the composition of the cutbacks in...
Persistent link: https://www.econbiz.de/10009377290
Persistent link: https://www.econbiz.de/10009759926
This paper evaluates a novel form of fiscal stimulus: a temporary cut in the rate of Value Added Tax (VAT). In December 2008, the UK cut the standard rate of VAT by 2.5 percentage points for 13 months in an effort to stimulate spending. We estimate the effect of the cut on prices and spending...
Persistent link: https://www.econbiz.de/10010381367
This paper analyses the trade-off between the incentive effects of increased uncertainty and the welfare benefits of risk-sharing in the design of optimal tax schedules. We use numerical methods to characterise the tax schedule and to give comparative static results of changing risk aversion,...
Persistent link: https://www.econbiz.de/10011537657