Income Risks, Education, and Taxation as Public Insurance

Schindler, Dirk

Income Risks, Education, and Taxation as Public Insurance

Dateien

0711_schindler_income.pdfGröße: 232.37 KBDownloads: 193

Datum

2007

Open Access-Veröffentlichung

Open Access Green

Sammlungen

Wirtschaftswissenschaften

Publikationstyp

Working Paper/Technical Report

Publikationsstatus

Published

Zusammenfassung

We set up an OLG-model, where households choose human capital investment and decide on investing their endogenous savings in a portfolio of riskless and risky assets. Thereby, the households are exposed to both aggregate wage and capital risks due to technological shocks. We derive the optimal public policy mix of taxation and education policy and show that risks can be optimally diversified on private and public consumption, if the government can apply a wide set of instruments, including differentiated wage and capital taxation.

Fachgebiet (DDC)

330 Wirtschaft

Schlagwörter

Optimal Income Taxation, Multiple Income Risks, Human Capital Investment, Portfolio Choice

Zitieren

ISO 690

SCHINDLER, Dirk, 2007. Income Risks, Education, and Taxation as Public Insurance

BibTex

@techreport{Schindler2007Incom-12191,
  year={2007},
  series={Diskussionspapiere der DFG-Forschergruppe Heterogene Arbeit},
  title={Income Risks, Education, and Taxation as Public Insurance},
  number={07,11},
  author={Schindler, Dirk}
}

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    <dcterms:abstract xml:lang="eng">We set up an OLG-model, where households choose human capital investment and decide on investing their endogenous savings in a portfolio of riskless and risky assets. Thereby, the households are exposed to both aggregate wage and capital risks due to technological shocks. We derive the optimal public policy mix of taxation and education policy and show that risks can be optimally diversified on private and public consumption, if the government can apply a wide set of instruments, including differentiated wage and capital taxation.</dcterms:abstract>
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