-
作者：Boyer, M
作者单位：Universite de Montreal; Polytechnique Montreal; Universite de Toulouse; Universite Toulouse 1 Capitole; Institut Universitaire de France; Universite de Toulouse; Universite Toulouse 1 Capitole
摘要：We consider a regulation problem with complete contracting in a principal-agent model with adverse selection and review within this model the various channels by which external competition parameters affect incentives within the regulated firm. The channels are: the principal's information, the principal's objective function, the agent's incentive constraint, the agent's participation constraint. We consider in particular a better information structure, a threat of liquidation, a fight for tal...
-
作者：Lambert, PJ; Millimet, DL; Slottje, D
作者单位：Southern Methodist University; University of York - UK
摘要：This paper analyzes inequality aversion across countries and identifies factors which explain the empirical heterogeneity observed across these countries. We do this by hypothesizing a 'natural rate' of subjective inequality across countries and solving for the explicit country-specific value of the inequality aversion parameter that is consistent with the hypothesized natural rate. We present evidence consistent with the existence of a natural rate of subjective inequality by verifying that c...
-
作者：Casarico, A; Devillanova, C
作者单位：Bocconi University; University of Trieste
摘要：The aim of the paper is to investigate the joint redistributive effects of migration and pensions and to reassess the sustainability issue raised in the existing economic literature. The paper first develops a theoretical framework to analyse the impact of international migration on the labour market. The model allows for heterogeneity across native-born individuals and for migrants to affect both the wages and the education decision in the recipient country. It then explicitly focuses on pens...
-
作者：Hindriks, J; De Donder, P
作者单位：Universite Catholique Louvain; University of London; Queen Mary University London; Universite de Toulouse; Universite de Toulouse
摘要：This paper analyses the political support for a social insurance that includes elements of redistribution when there exists an imperfect private insurance alternative. Individuals differ both in their income and risk. The social insurance is compulsory and charges an income-related contribution with pooling of risks. The private insurance is voluntary and charges a contribution based on individual risks. However due to the adverse selection problem, private insurance companies provide only par...
-
作者：Ballou, JP; Weisbrod, BA
作者单位：Northwestern University
摘要：Studies of mixed industries frequently focus on differential behavior between for-profit and either nonprofit or governmental producers. Substantially less is known about differences among governmental, religious nonprofit, and secular nonprofit organizations. We examine the compensation of hospital CEOs to assess the extent to which these three organizational forms pursue similar objectives. Compensation levels, the use of salaries versus bonuses as proxies for weak versus strong incentives, ...
-
作者：Hanson, R
作者单位：George Mason University
摘要：One explanation for drug bans is that regulators know more than consumers about product quality. But why not just communicate the information in their ban, perhaps via a 'would have banned' label? Because product labeling is cheap-talk, any small market failure tempts regulators to lie about quality, inducing consumers who suspect such lies to not believe everything they are told. In fact, when regulators expect market failures to result in under-consumption of a drug, and so would not ban it ...
-
作者：Devereux, MP; Lanot, G
作者单位：University of Warwick; University of London; London School Economics & Political Science; Keele University
摘要：This paper derives measures of the average and marginal incidence of a tax or subsidy in imperfect competition, in the context of the UK housing market. We argue that one form of mortgage, common in the UK but not elsewhere (the endowment mortgage), exists primarily because of the structure of taxation in the UK. We estimate the determinants of the choice of the type of mortgage, and the size of mortgage conditional on the choice, using data from the Building Societies Association on 43 000 in...
-
作者：Carbonell-Nicolau, O; Klor, EF
作者单位：New York University
摘要：This paper develops a political economy model that is consistent with the fact that democracies have a preference for increasing marginal tax rates on income. We present a model in which there is an exogenous set of political parties with preferences over the set of admissible tax schedules. This set contains virtually any increasing and piecewise linear continuous function. Each party decides whether or not to present a candidate for election. There is a fixed cost of running. The elected can...
-
作者：Chou, SY; Liu, JT; Hammitt, JK
作者单位：Harvard University; Harvard T.H. Chan School of Public Health; Harvard University; Harvard T.H. Chan School of Public Health; National Taiwan University; National Bureau of Economic Research; New Jersey Institute of Technology
摘要：By reducing uncertainty about future medical expenses, comprehensive health insurance can reduce households' precautionary saving. We examine this effect using Taiwan micro-data spanning the 1995 introduction of National Health Insurance. The effects of National Health Insurance are identified using employment-based variation in prior insurance coverage. Replacement of the households' prior insurance coverage with National Health Insurance is exogenous to the household, so our estimates are no...
-
作者：Anderberg, D; Andersson, F
作者单位：University of Stirling; Lund University
摘要：The importance of risk characteristics of human capital for the design of tax and education policy is explored. Wages are uncertain and education, while increasing the expected wage, may increase or decrease wage variance. The government has strong reasons to encourage human capital formation in the latter case, partly due to the insurance effect of human capital, and partly due to the way the individuals-under a plausible restriction on 'prudence'-respond to changes in risk. The analysis is i...
