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Distributional Consequences (distributional + consequence)
Selected AbstractsON THE DISTRIBUTIONAL CONSEQUENCES OF CHILD LABOR LEGISLATION*INTERNATIONAL ECONOMIC REVIEW, Issue 3 2005Dirk Krueger This article studies the effects of child labor legislation on human capital accumulation and the distribution of wealth and welfare. We calibrate our model to U.S. data circa 1880 and find that the consequences of restricting child labor or providing tax-financed education depend on the main source of individual household income. Households with significant financial assets unambiguously lose from government intervention, whereas high-wage workers benefit most from a child labor ban, and low-wage workers benefit most from free education. Introducing free education results in substantial welfare gains, whereas a child labor ban induces small welfare losses. [source] Mortality Heterogeneity and the Distributional Consequences of Mandatory AnnuitizationJOURNAL OF RISK AND INSURANCE, Issue 4 2008Guan Gong This article investigates the distributional consequences of mandatory annuitization. Using Health and Retirement Study (HRS) data and accounting for longevity risk pooling within marriage and preannuitized wealth, we find substantial redistribution away from disadvantaged groups in expected utility terms. Using HRS data on subjective survival probabilities, we construct a subjective life table for each individual in the HRS. We calculate the value each household would place on annuitization, based on the husband and wife's subjective life tables, and the household's degree of risk aversion and proportion of preannuitized wealth. A significant minority would perceive themselves as suffering a loss from mandatory annuitization. [source] Global and Domestic Governance: Modes of Interdependence in Regulatory PolicymakingEUROPEAN LAW JOURNAL, Issue 4 2006David Lazer In particular, it identifies three modes of interdependence: competitive, coordinative, and informational. In the competitive mode the essential structure of interdependence is for countries to attempt to have distinctive policies that provide some advantage over other countries, but where the equilibrium set of policies is suboptimal for all. In the coordinative mode, there is an advantage for all countries to adopt the same policy, but exactly which policy is adopted may have significant distributional consequences. Lastly, in the informational mode, the choices and experiences of countries produce informational externalities, pointing the way for other countries to policy decisions. This article examines the logic underpinning each of these modes of interdependence, and draws out the governance implications of each mode. [source] Who Benefits from the Reform of Pension Taxation in Germany?,FISCAL STUDIES, Issue 1 2007Hans Fehr The present paper quantifies the revenue, distributional and efficiency effects of the recent reform of pension taxation in Germany. The starting point is the new legislation, which has introduced a switch to the deferred taxation of retirement benefits starting in 2005. We compare this reform with an alternative transition proposed by the Federation of German Pension Insurance Institutes (VDR), where double taxation is avoided at the cost of higher revenue losses. Our simulations indicate significant growth and efficiency gains from the new tax legislation. Winners from the reform are mainly younger workers, while older workers, civil servants and the self-employed will lose. The VDR proposal would have resulted in higher efficiency gains, but also in stronger distributional consequences. [source] Publicly funded medical savings accounts: expenditure and distributional impacts in Ontario, CanadaHEALTH ECONOMICS, Issue 10 2008Jeremiah Hurley Abstract This paper presents the findings from simulations of the introduction of publicly funded medical savings accounts (MSAs) in the province of Ontario, Canada. The analysis exploits a unique data set linking population-based health survey information with individual-level information on all physician services and hospital services utilization over a four-year period. The analysis provides greater detail along three dimensions than have previous analyses: (1) the distributional impacts of publicly funded MSAs across individuals of differing health statuses, incomes, ages, and current expenditures; (2) the impact of differing degrees of risk adjustment for MSA contributions; and (3) the impact of MSA funding over multiple years, incorporating year-to-year variation in spending at the individual level. In addition, it analyses more plausible designs for publicly funded MSAs than the existing studies. Government uses information available from year t,,,1 to allocate its budget for year t in a manner that is ex ante fiscally neutral for the public sector: the government first withholds funds equal to expected catastrophic insurance payments under the MSA plan, and then allocates only the balance to individual MSA accounts. The government captures the savings associated with reduced health-care utilization under MSAs and we examine deductibles that vary by income rather than by current health-care expenditures. The impacts on public expenditures under these designs are more modest than in the previous studies and under plausible assumptions MSAs are predicted to decrease public expenditures. MSAs, however, are also predicted to have unavoidable negative distributional consequences with respect to both public expenditures and out-of-pocket spending. Copyright © 2007 John Wiley & Sons, Ltd. [source] Estimating a Dynamic Model of Household Choices in the Presence of Income TaxationINTERNATIONAL ECONOMIC REVIEW, Issue 3 2000Holger Sieg The purpose of the article is to study the incentive and distributional consequences of income taxation. The article analyzes tax changes in a dynamic setting. The framework is estimated under a set of different identifying assumptions using parametric, nonparametric, and semiparametric techniques. The empirical results focus on tax reforms in Germany in the 1980s. The article shows that these reforms did not significantly lower effective tax rates. The findings also suggest that estimated elasticities for male labor supply are small, ranging between 0.02 and 0.2. [source] Mortality Heterogeneity and the Distributional Consequences of Mandatory AnnuitizationJOURNAL OF RISK AND INSURANCE, Issue 4 2008Guan Gong This article investigates the distributional consequences of mandatory annuitization. Using Health and Retirement Study (HRS) data and accounting for longevity risk pooling within marriage and preannuitized wealth, we find substantial redistribution away from disadvantaged groups in expected utility terms. Using HRS data on subjective survival probabilities, we construct a subjective life table for each individual in the HRS. We calculate the value each household would place on annuitization, based on the husband and wife's subjective life tables, and the household's degree of risk aversion and proportion of preannuitized wealth. A significant minority would perceive themselves as suffering a loss from mandatory annuitization. [source] | ||||||||||