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Optimal Debt Policy Under Asymmetric Risk
Escolano, Julio - 2016
In the paper we show that, most of the time, smooth reduction in the debt ratio is optimal for tax-smoothing purposes when fiscal risks are asymmetric, with large debt-augmenting shocks more likely than commensurate debt reducing shocks. Asymmetric risks are a feature of 200 years of data for...
Persistent link: https://www.econbiz.de/10012977785
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Can Market and Voting Institutions Generate Optimal Intergenerational Risk Sharing?
Rangel, Antonio; Zeckhauser, Richard J. - 1999
theory, could be corrected by government intervention. However, as long as government policy is determined by voting …
Persistent link: https://www.econbiz.de/10014204200
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Redistribution and insurance with simple tax instruments
Findeisen, Sebastian; Sachs, Dominik - 2015
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 … bound on optimal taxes: even for welfare functions that do not value redistribution, marginal tax rates are positive for all …
Persistent link: https://www.econbiz.de/10011283108
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On risk induced by technical change
Ünveren, Burak - In: International journal of business and economic sciences … 10 (2017) 1, pp. 42-48
redistribution of income as a tool of mitigating the loss of efficiency due to technological shocks. Research limitations …
Persistent link: https://www.econbiz.de/10011649413
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Polarisation, uncertainty and public investment failure
Bohn, Frank - In: European journal of political economy 23 (2007) 4, pp. 1077-1087
Persistent link: https://www.econbiz.de/10003642767
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Redistribution and Insurance with Simple Tax Instruments
Findeisen, Sebastian - 2015
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 … bound on optimal taxes: even for welfare functions that do not value redistribution, marginal tax rates are positive for all …
Persistent link: https://www.econbiz.de/10013016371
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Redistribution and Insurance with Simple Tax Instruments
Findeisen, Sebastian - 2015
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 … bound on optimal taxes: even for welfare functions that do not value redistribution, marginal tax rates are positive for all …
Persistent link: https://www.econbiz.de/10013020515
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Shutting the stable door after the horse has bolted? : on educational risk and the quality of education
Schindler, Dirk; Weigert, Benjamin - 2011
-best solution, providing ex ante insurance significantly gains importance relative to traditional ex post redistribution, because it …
Persistent link: https://www.econbiz.de/10009124160
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Optimal Redistributive Policy Under Disaster Risk : Self-Protection and Social Mitigation
Tsugawa, Shuichi - 2021
This paper examines the optimal mixed taxation of polluting goods and subsidies for self-protection under nonlinear income tax. The novel contribution of this paper is to take disaster risk into account, the probability which is determined by the total amount of polluting goods consumed by all...
Persistent link: https://www.econbiz.de/10013322085
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Economic Policy Uncertainty and Risk Spillovers in the Eurozone
Bernal, Oscar - 2015
This paper focuses on the impact of economic policy uncertainty on risk spillovers within the Eurozone and contributes to these two growing literatures. To this end, we adapt the two-step procedure developed by Adrian and Brunnermeier (2011) in the framework of financial systemic risk to...
Persistent link: https://www.econbiz.de/10013029748