Consumption and Hours - Welfare Maximizing Progressivity
Working hours, status consumption, and optimal taxation
... The paper that comes closest to formalizing Keynes’ argument is Ohanian et al. (2008). They postulate a generalized Stone–Geary utility function with arguments leisure and net con- sumption C + G − ¯ C, where ¯ C is ...
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Technological progress, the supply of hours worked, and the consumption-leisure complementarity
... in hours worked reflects a fall in the voluntary individual supply of ...a consumption- leisure complementarity caused the individual supply of hours worked to ...of consumption goods that ...
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Dynamic Factor Models of Consumption, Hours, and Income
... dynamic factor models studied in the paper. Section 2 discusses our specification of the permanent income model and the Keynesian model. Section 3 presents a methodology for taking accou[r] ...
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Noncompliance and the Effects of the Minimum Wage on Hours and Welfare in Competitive Labor Markets
... However, since empirical estimates of relative prudence are very low, 6 it follows that in practice, an increase in the minimum wage rate is likely to be associated with a decrease in working hours. The change in ...
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On the Optimal Progressivity of the Income Tax Code
... average hours worked decline by about 1%, reflecting a shift of labor supply from low-productivity to high-productivity ...state welfare gains from such a tax reform are sizeable, in the order of magnitude ...
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Heterogeneity, Transfer Progressivity and Business Cycles
... aggregate hours without the assumptions of lotteries and perfect consumption insurance (Rogerson, ...transfer progressivity, but not tax progressivity, lowers the correlation of average labor ...
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Is Agricultural Productivity Growth Good for Industrialization? Infrastructures and the Welfare Maximizing Tax Rate
... total welfare under industrialization can be larger than that under specialization in ...total welfare depends on the size of the subsistence level of consumption for agricultural ...of ...
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Welfare Implications of the Interaction between Habits and Consumption Externalities
... of consumption growth is not constant o the BGP, we can conclude that in this case the competitive path is not ecient during the ...that consumption externalities generate ineciency because they aect ...
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Differential Mortality and the Progressivity of Social Security
... 4: Consumption equivalences (ψ%) under the alternative benefit-earnings rules with wealth- dependent mortality ...the welfare losses from labor supply ...
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Measuring progressivity of health care payments
... household consumption, or even expenditure, is generally considered to be a better measure of welfare, and ATP, than income (Technical Note ...indicate welfare prior to payments for health care, and ...
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On the Welfare Costs of Consumption Uncertainty
... for GDP—but less than the average growth rates of levels—2.8% and 3.0%, respectively. In the models (with i.i.d. shocks to GDP and consumption), the term structure of risk-free rates is flat. Therefore, in this ...
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Welfare maximizing emission permit allocations under constraints.
... The structure of this paper is as follows. Section 2 introduces the theoretical setup of the model. Section 3 deals with international carbon agreements in general. First, the optimization problem of a coalition of ...
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Opening Hours, Store Quality, and Social Welfare
... social welfare in the liberaliza- tion of opening hours is larger than that in the restriction on opening ...opening hours between large and small ...opening hours as shown by our proposition ...
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Opening Hours, Store Quality, and Social Welfare
... The basic structure of the model is as follows. There are two dimensions of product differentiation: the first dimension represents location and the second represents time. To represent the first dimension, we assume a ...
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Consumption Tax, Nontraded Goods and Welfare
... the welfare effects of a consumption tax rise based on the two-sector small open economy model of Obstfeld and Rogoff (1995) and Lane ...the consumption tax rise has no effect on welfare, 2) ...
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Consumption smoothing and the welfare cost ofuncertainty
... manage consumption risk is a significant determinant of individual and household welfare in developing countries, where households live in an uncertain en- vironment with limited access to formal financial ...
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Measuring Progressivity and Inequality
... group progressivity Π g T of the tax and benefit system is in inverse relation to gross income inequality, as displayed on line ...group progressivity, the tax and benefit system succeeds in bringing ...
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Welfare Maximizing Contest Success Functions when the Planner Cannot Commit
... for the prize, the optimal CSF is such that the probability that a contestant obtains the prize is the ratio of her e¤ort with respect to total e¤ort. A closely related paper is Epstein and Nitzan (2006) which with ...
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Welfare Effects of Salary Caps in Sports Leagues with Win-Maximizing Clubs
... market and the state accepts the outcome of their bargaining written down in CBAs. This labour market model is not compatible with the European association model. Associations are not representing one side of a labour ...
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The Impact of Weather Insurance on Consumption, Investment, and Welfare
... large welfare gains contrast with Rosenzweig and Wolpin (1993) who argue that the introduction of actuarially fair weather insurance is associated with only negligible welfare ...improve welfare, by ...
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