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作者：Cheron, Amaud; Hairault, Jean-Olivier; Langot, Francois
作者单位：Le Mans Universite; Universite Catholique de Lille; EDHEC Business School; Le Mans Universite; heSam Universite; Universite Pantheon-Sorbonne
摘要：Phelps [Phelps, E. (1994): Low-wage employment subsidies versus the welfare state, American Economic Review 84, 54-58.] presented the case for a low-wage subsidy policy. Since the mid-1990s, France has experimented with this strategy. This paper evaluates the effect of this policy on employment and also on output and welfare. We construct an equilibrium search model incorporating wage posting and specific human capital investment, where unemployment and the distribution of both wages and produ...
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作者：Andersen, Torben M.
作者单位：Aarhus University; Aarhus University
摘要：Increasing longevity causes an upward trend in the dependency ratio in many countries. This raises concerns about the financial sustainability of social security schemes, and reform proposals and initiatives abound. It is shown that a fundamental policy choice inevitably arises since a given social security system cannot be maintained by simply indexing pension ages to longevity. The political reform process is analysed using the so-called legislative procedure. When longevity increases, the r...
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作者：Casarico, Alessandra; Devillanova, Carlo
作者单位：Bocconi University; Centre for Economic Policy Research - UK; Leibniz Association; Ifo Institut
摘要：wThis paper analyses the general equilibrium implications of reforming pay-as-you-go pension systems in an economy with heterogeneous agents, human capital investment and capital-skill complementarity. It shows that increasing funding, by raising savings, delivers in the long run higher physical and human capital and therefore higher output, but also higher across-group wage and income inequality. It also shows that the general equilibrium effects induced by this reform affect groups' sizes in...
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作者：Mateos-Planas, Xavier
作者单位：University of Southampton
摘要：This paper investigates the determination of social security within a general equilibrium, overlapping-generations model where agents live for many periods, and replacement rates are determined through voting in each period by forward looking agents. The distinctive feature is the study of Markov equilibrium policy outcomes which do not rest on a commitment mechanism. Versions of the model are calibrated to the US economic, policy, and demographic conditions. Even in the absence of commitment,...
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作者：Singhal, Monica
作者单位：Harvard University; National Bureau of Economic Research
摘要：I propose a fully rational model of government contracting that explains differences in local government spending from grants and other income. In this model, violations of fungibility arise from dynamic interactions between politicians and interest groups with the ability to raise funds for the local government. The predictions of the model are tested by exploiting unique features of windfalls received by states under a settlement with the tobacco industry. Although windfalls are legally unre...
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作者：Shelton, Cameron A.
作者单位：Wesleyan University
摘要：Razin, Sadka, and Swagel [Razin, Asaf, Efraim Sadka, and Phillip Swagel (2002) The Aging Population and the Size of the Welfare State The Journal of Political Economy, vol. 110, no. 4, pp. 900-918.] unveil a puzzling fact: the welfare state appears to be shrinking even as the dependency ratio rises. While they formulate an elegant political economy model to explain the coexistence of an aging population and declining transfers, the resolution of the puzzle turns out to be much simpler. Labor t...
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作者：van Ours, Jan C.; Vodopivee, Milan
作者单位：Tilburg University; University of Melbourne; IZA Institute Labor Economics
摘要：This paper analyzes how a change in Slovenia's unemployment insurance law affected the quality of jobs workers found after periods of unemployment. Taking advantage the natural experiment we show through difference-in-differences estimation results that reducing the potential duration of unemployment benefits had no detectable effect on wages, on the probability of securing a permanent rather than a temporary job, or on the duration of the post-unemployment job. (c) 2007 Elsevier B.V. All righ...
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作者：Cremer, Helmuth; De Donder, Philippe; Gahvari, Firouz
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Institut Universitaire de France; Centre National de la Recherche Scientifique (CNRS); Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics
摘要：This paper presents a political economy model that is consistent with the low rate of emission taxes in the U.S., as well as the fact that neither Democrats nor Republicans propose to increase them. The voters differ according to their wage and capital incomes. They vote over the emission tax rate and a budgetary rule that specifies how to redistribute the tax proceeds. The political competition is modeled a la Roemer [Roemer, J., 2001. Political Competition: Theory and Applications. Harvard U...
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作者：Herrera, Hellos; Levine, David K.; Martinelli, Cesar
作者单位：Instituto Tecnologico Autonomo de Mexico; Washington University (WUSTL)
摘要：We model electoral competition between two parties in a winner-take-all election. Parties choose strategically first their platforms and then their campaign spending under aggregate uncertainty about voters' preferences. We use the model to examine why campaign spending in the United States has increased at the same time that politics has become more polarized. We find that a popular explanation - more accurate targeting of campaign spending - is not consistent. While accurate targeting may le...
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作者：Foellmi, Reto; Oechslin, Manuel
作者单位：University of Zurich
摘要：Recent macroeconomic research discusses credit market imperfections as a key channel through which inequality retards growth: With convex technologies, progressive transfers increase aggregate output because marginal returns become more equalized across investment opportunities. We argue that this reasoning may not hold in general equilibrium. Since the investment functions are concave in wealth, reducing inequality increases capital demand and the interest rate. Hence, through the impact on c...
