Öffentliche und private Transfers und Unterstützungsleistungen im Alter – „crowding out“ oder „crowding in“?

Crowding Out or Crowding In? UI and Private Insurance

This paper explores the welfare consequences of unemployment insurance when private insurance markets are subject to enforcement frictions that limit debt accumulation, endogenously determining individual borrowing limits as a function of the length of unemployment. Reducing the replacement rate in the model initially increases borrowing, as the value of default declines significantly. As the r...

Elektronische Identitäten - Öffentliche und private Initiativen

In der virtuellen Welt bedarf es eines umfassenden Identitätsmanagements. Den hohen Anforderungen des öffentlichen Sektors hinsichtlich der Eindeutigkeit der Identität werden die praxisnäheren privaten Federation-Modelle mit einer hohen Flexibilität sowie Relativität und Vielschichtigkeit der Identität gegenübergestellt. Die – notwendige und realisierbare – Integration beider Ansätze wird behan...

Private Währungen im Internet - Fachkonzept und Einsatzpotenziale

The Effect of Social Entitlement Programs on Private Transfers: New Evidence of Crowding Out

This paper exploits a natural policy experiment to directly identify the crowding out effects of public transfers on the incidence and level of private transfers. The introduction of a large social security program in Taiwan is used to estimate the effect of an exogenous increase in government transfer payments to the elderly on the private transfer behavior of their adult children. Using an in...

Financial Crowding Out

Using a novel dataset of accounting and market information that spans most publicly traded firms over the last century, we show that government deficit financing crowds out nonfinancial corporate debt financing and investment. Specifically, an increase in the supply of treasury debt is associated with a significant reduction in corporate leverage, debt issuances, and investment, but no signific...