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Redistribution and insurance with simple tax instruments
Findeisen, Sebastian; Sachs, Dominik - 2015
We analyze optimal taxation of labor and capital income in a life-cycle framework with idiosyncratic income risk. We … provide a novel decomposition of labor income tax formulas into a redistribution and an insurance component. The latter is … capital tax is non-zero and trades off redistribution and insurance against savings distortions. Our quantitative results …
Persistent link: https://www.econbiz.de/10011283108
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On the political economy of social security and public education
Poutvaara, Panu - 2001
This paper proposes and analyzes a model of a European economy with three overlapping generations, redistributive social security, and public universities without tuition. Individuals differ ex ante. The effect of wage tax rate on occupational choice and the voting equilibrium of wage tax rate...
Persistent link: https://www.econbiz.de/10011398016
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Redistribution and Insurance with Simple Tax Instruments
Findeisen, Sebastian - 2015
We analyze optimal taxation of labor and capital income in a life-cycle framework with idiosyncratic income risk. We … provide a novel decomposition of labor income tax formulas into a redistribution and an insurance component. The latter is … capital tax is non-zero and trades off redistribution and insurance against savings distortions. Our quantitative results …
Persistent link: https://www.econbiz.de/10013016371
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Redistribution and Insurance with Simple Tax Instruments
Findeisen, Sebastian - 2015
We analyze optimal taxation of labor and capital income in a life-cycle framework with idiosyncratic income risk. We … provide a novel decomposition of labor income tax formulas into a redistribution and an insurance component. The latter is … capital tax is non-zero and trades off redistribution and insurance against savings distortions. Our quantitative results …
Persistent link: https://www.econbiz.de/10013020515
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Inequality, Uncertainty, and Redistribution
Machado, Fabiana V. P. - 2012
high levels of redistribution. According to international rankings, however, among the fourteen most unequal countries in …
Persistent link: https://www.econbiz.de/10014174582
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Risks at Work : The Demand and Supply Sides of Government Redistribution
Cusack, Thomas R.; Iversen, Torben; Rehm, Philipp - 2007
on how risk exposure and income are related to preferences for redistribution. To test our hypotheses, we extract … turn our attention to the supply side of government redistribution. Institutions, we argue, mediate governments' reactions …
Persistent link: https://www.econbiz.de/10014027617
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Stable allocations of risk
Csóka, Péter (contributor);  … - 2007
The measurement and the allocation of risk are fundamental problems of portfolio management. Coherent measures of risk provide an axiomatic approach to the former problem. In an environment given by a coherent measure of risk and the various portfolios' realization vectors, risk allocation games...
Persistent link: https://www.econbiz.de/10003551804
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Risk sharing in the presence of a public good
Schroth, Josef - 2015
This paper studies an economy where agents can spend resources on consuming a private good and on funding a public good. There is asymmetric information regarding agents' relative preference for private versus public good consumption. I show how private good consumption should be coordinated...
Persistent link: https://www.econbiz.de/10011302006
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Properties of risk capital allocation methods : core compatibility, equal treatment property and strong monotonicity
Balog, Dóra; Bátyi, Tamás László; Csóka, Péter; … - 2014
In finance risk capital allocation raises important questions both from theoretical and practical points of view. How to share risk of a portfolio among its subportfolios? How to reserve capital in order to hedge existing risk and how to assign this to different business units? We use an...
Persistent link: https://www.econbiz.de/10010381388
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A Shapley Value Approach to Pricing Climate Risks
Cooke, Roger M. - 2013
This paper prices the risk of climate change by calculating a lower bound for the price of a virtual insurance policy against climate risks associated with the business as usual (BAU) emissions path. In analogy with ordinary insurance pricing, this price depends on the current risk to which...
Persistent link: https://www.econbiz.de/10013091973