Fostering Within-Family Human-Capital Investment: An Intragenerational Insurance Perspective of Social Security
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منابع مشابه
Fostering Within-Family Human Capital Investment: An Intragenerational Insurance Perspective of Social Security
We propose an extended PAYG social security system that conditions pension benefits on the aggregate wage sum and on the wage of one’s children. The latter increases parents’ incentives to provide their children with good within-family education. However, since wages depend stochastically on parents’ unobservable investment in their children’s human capital, some insurance against the productiv...
متن کاملIZA Discussion Paper No. 678
Fostering Within-Family Human Capital Investment: An Intragenerational Insurance Perspective of Social Security We develop a general equilibrium stochastic OLG model with heterogenous households. Households differ with respect to their productivity. Productivity depends stochastically on parents' unobservable investment in their child's human capital and an aggregate productivity shock. We intr...
متن کاملSocial Security Incentives, Human Capital Investment and Mobility of Labor
Social Security Incentives, Human Capital Investment and Mobility of Labor Migration between countries with earnings-related and flat-rate pay-as-you-go social security systems may change human capital investments in both countries. The possibility of emigration boosts investments in human capital in the country with flat-rate benefits. Correspondingly, those expecting to migrate from the count...
متن کاملAn evolutionary psychological perspective on social capital
0167-4870/$ see front matter 2009 Elsevier B.V doi:10.1016/j.joep.2009.08.002 * Corresponding author. Address: Interdisciplinary WC2A 2AE, United Kingdom. Tel.: +44 20 7955 729 E-mail address: [email protected] (S. Kanaza We present an evolutionary psychological perspective on social capital. We first suggest that evolutionary psychology provides the most ultimate (as opposed to proximate) t...
متن کاملHuman Capital, Multiple Income Risk and Social Insurance
We set up an OLG-model, where households both choose human capital investment and decide on investing their endogenous savings in a portfolio of riskless and risky assets, exposing them to (aggregate) wage and capital risks due to technological shocks. We derive the optimal public policy mix of taxation and education policy. We show that risks can be efficiently diversified between private and ...
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ژورنال
عنوان ژورنال: FinanzArchiv
سال: 2006
ISSN: 0015-2218
DOI: 10.1628/001522106x172670