conventional wisdom, rather than calling for more redistribution, the presence of this scale dependence provides a rationale for …. At an aggregate level, a rise in redistribution induces a compression effect on the distribution of pre-tax returns. In … the financial market, I identify general equilibrium trickle-up externalities that provide a force for more redistribution …

European Union. Clearly, population ageing has forced countries to reform their pension systems, and will continue to do so …, both by reducing the generosity of pension arrangements and by switching to funding rather than relying on pure pay …-as-you go pension provision. We study how such reforms affect the room for adhering to the Pact, but also how the Pact may …

Using an overlapping generations model, two new indicators of public pension system sustainability are proposed: the … pension space, which measures the capacity to pay for pension expenditures out of labour taxation, and the pension space … exhaustion probability reflecting demographic uncertainties. These measures reveal that the pension spaces of advanced economies …

In this paper, we propose a novel index for measuring intra-generational redistribution in pay-as-you-go pension … pension system without intra-generational redistribution for men, while women benefit from intra-generational redistribution … schemes. Our index solely requires information on contributions and pension benefits of retirees, enabling us to measure intra …

, in conjunction with optimal income taxation, contributes to redistribution and reduced long-term unemployment. The second … varies with the government’s preferences for redistribution and the characteristics of those risking long-term unemployment …

"blunt instrument" for redistribution. To do so we build a model in which workers are heterogeneous in ability, and the … government engages in redistribution through the public provision of private goods. We show that the MW institution is … politically viable only when there is a limited degree of in-kind redistribution. To examine the empirical relevance of our …

This paper analyzes the impact of fiscal federalism on income inequality and redistribution. Theoretically … concentration in pre- and after-tax income without additional redistribution via progressive taxes. It is, however, crucial to …