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 … reveal that the insurance component contributes significantly to optimal labor tax rates and provides an informative lower …

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 … reveal that the insurance component contributes significantly to optimal labor tax rates and provides an informative lower …

risk. This paper focuses on the transmission of sovereign risk to insurance companies as some of the largest institutional … investors in the sovereign bond market. We use a firm level panel dataset that covers large insurance companies, banks and non … reflected in current insurance regulation (incl. upcoming Solvency II in Europe). …

worker buys an insurance, which gives a constant income and retirement benefits in exchange for the total output. The level …