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We consider an election that is solely concerned with redistribution of income. It is well known that when voters are selfish, there is no political equilibrium. We consider the case where voters are modestly altruistic. We demonstrate that modest altruism results in a unique political...
Persistent link: https://www.econbiz.de/10014066654
An ongoing debate has centered on whether redistribution should be attained solely through taxes and transfer payments, or also via the private law. The most powerful argument against redistribution through private law is grounded on economic considerations. Accordingly, legal rules are more...
Persistent link: https://www.econbiz.de/10014053673
Inequality is a defining issue of our time. Nevertheless, the longstanding economic orthodoxy for addressing inequality is that we should redistribute solely through tax and transfer policies because those are the most efficient means for doing so. While the orthodoxy holds in theory, it fails...
Persistent link: https://www.econbiz.de/10013245242
I study a multilateral bargaining game where committee members invest in a common project prior to redistributing the total value of production. The game corresponds to a Baron and Ferejohn (1989) legislative bargaining model preceded by a production stage similar to the voluntary contribution...
Persistent link: https://www.econbiz.de/10014141361
Do beliefs about fairness interact with past experiences of labor market shocks to condition redistributive preferences? We field a large-scale survey experiment to investigate the effect of informing individuals that growth in automation could disrupt labor markets in ways (possibly) viewed as...
Persistent link: https://www.econbiz.de/10014358415
We consider a two-person Cournot game of voluntary contributions to a public good with identical individual preferences, and examine equilibrium aggregate welfare under a separable, symmetric and concave social welfare function. Assuming the public good is pure, Itaya, de Meza and Myles (Econ....
Persistent link: https://www.econbiz.de/10012756257
Can a government reduce income inequality by changing the composition of public spending while keeping the total level of expenditure fixed? Using newly assembled data on spending composition for 83 countries across all income groups, this paper shows that reallocating spending toward social...
Persistent link: https://www.econbiz.de/10012860996
We analyze the roots of politicians' preferences for redistribution by exploring whether early life experiences have persistent, long-run effects on U.S. Members of Congress' voting records. We study whether having experienced an economic recession during early adulthood affected their positions...
Persistent link: https://www.econbiz.de/10012903094
This paper uses the 19th century concern with “the social question” as a vehicle to explore how the theories we use can shape, for better or for worse, our insights into our subjects of interest. Contemporary thinking mostly channels the social question into a focus on inequality in the...
Persistent link: https://www.econbiz.de/10012906538
We exploit the unpredictable nature of the labor market disruption posed by automation to investigate (i) how emphasizing different features of a potential labor market shock influences redistributive preferences and beliefs about inequality and fairness, and (ii) how such information interacts...
Persistent link: https://www.econbiz.de/10013244501