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Catalysts for social insurance: Education subsidies vs. real capital taxation
Schindler, Dirk; Yang, Hongyan - 2010
To analyze the optimal social insurance package, we set up a two-period life-cycle model with risky human capital investment in which the government has access to labor taxation, education subsidies and capital taxation. Social insurance is provided by redistributive labor taxation. Moreover,...
Persistent link: https://www.econbiz.de/10010274987
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On the desirability of taxing capital income to reduce moral hazard in social insurance
Jacobs, Bas; Schindler, Dirk - 2009
more attractive for social insurance if a larger part of risk is realized in the first period of the life-cycle. Our …
Persistent link: https://www.econbiz.de/10010266030
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On the Desirability of Taxing Capital Income to Boost Social Insurance
Schindler, Dirk; Jacobs, Bas - 2010
more attractive for social insurance if a larger part of risk is realized in the first period of the life-cycle. Our …
Persistent link: https://www.econbiz.de/10010270186
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A Simple Measure of Risk Aversion in the Large and an Application.
Chander, P. - Center for Operations Research and Econometrics (CORE), … - 2000
We introduce a simple measure of risk aversion in the large. Besides satisfying properties which are conceptually … analogous to the usual properties of the Arrow-Pratt measure, the index of risk aversion in the large leads to a stronger … concept of decreasing risk aversion, which necessarily imp lies decreasing absolute risk aversion but not necessarily non …
Persistent link: https://www.econbiz.de/10005634228
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On Environmental Taxation Under Uncertainty.
Aronsson, T.; Blomquist, S. - Nationalekonomiska Institutionen, Uppsala Universitet - 1999
response to this tax depends on (i) the attitudes towards risk and (ii) how other policy instruments affect the demand for the …
Persistent link: https://www.econbiz.de/10005779779
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On the Desirability of Taxing Capital Income to Reduce Moral Hazard in Social Insurance
Jacobs, Bas; Schindler, Dirk - CESifo - 2009
more attractive for social insurance if a larger part of risk is realized in the first period of the life-cycle. Our …
Persistent link: https://www.econbiz.de/10008583702
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Income Taxation, Wealth Effects, and Uncertainty : Portfolio Adjustments with Isoelastic Utility and Discrete Probability (V.2)
Sims, Theodore S. - 2014
The expected utility formulation of the problem of a risk-averse agent's allocating a portfolio between a safe and a … exhibiting constant relative risk aversion and the probability distribution of the risky asset as binomial, and take the riskless …
Persistent link: https://www.econbiz.de/10013049484
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Income Taxation, Wealth Effects, and Uncertainty : Portfolio Adjustments with Isoelastic Utility and Discrete Probability
Sims, Theodore S. - 2014
The expected utility formulation of the problem of a risk-averse agent's allocating a portfolio between a safe and a … exhibiting constant relative risk aversion and the probability distribution of the risky asset as binomial, and take the riskless …
Persistent link: https://www.econbiz.de/10013054124
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Fiscal Austerity in Ambiguous Times
Ferriere, Axelle - 2020
This paper analyzes optimal fiscal policy with ambiguity aversion and endogenous government spending. We show that, without ambiguity, optimal surplus-to-output ratios are acyclical and that there is no rationale for either reduction or further accumulation of public debt. In contrast, ambiguity...
Persistent link: https://www.econbiz.de/10012855601
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Fiscal Austerity in Ambiguous Times
Ferriere, Axelle - 2018
This paper analyzes optimal fiscal policy with ambiguity aversion and endogenous government spending. We show that, without ambiguity, optimal surplus-to-output ratios are acyclical and that there is no rationale for either reduction or further accumulation of public debt. In contrast, ambiguity...
Persistent link: https://www.econbiz.de/10012936338