Income Risks, Education, and Taxation as Public Insurance
نویسنده
چکیده
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. JEL Klassifikation : H21, I28, J24 Schlüsselwörter : Optimal Income Taxation, Multiple Income Risks, Human Capital Investment, Portfolio Choice Download/Reference : http://www.wiwi.uni-konstanz.de/forschergruppewiwi/ Income Risks, Education, and Taxation as Public Insurance Dirk Schindler Universität Konstanz†
منابع مشابه
Human 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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