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Langot, François - 2012

We study fiscal devaluation in a small-open economy with labor market search frictions. Our analysis shows the key role of both dimensions in shaping the optimal tax scheme. By reducing labor market distortions, the tax reform is welfare-improving. Yet, as it makes imports more expensive, fiscal...

Persistent link: https://www.econbiz.de/10013104944

Optimal Taxation and Monopsonistic Labor Market : Does Monopsony Justify the Minimum Wage?

Cahuc, Pierre; Laroque, Guy - 2021

We analyze optimal taxation in an economy with monopsonistic labor markets. The individuals, whose only decisions are whether to work, or not, have heterogeneous productivities and opportunity costs of work. Given its preferences for redistribution, the government, which does not observe the...

Persistent link: https://www.econbiz.de/10013316879

Redistribution and Insurance with Simple Tax Instruments

Findeisen, Sebastian - 2015

We analyze optimal taxation of labor and capital income in a life-cycle framework with idiosyncratic income risk. We … independent of the social welfare function and determined by the degree of income risk and risk aversion. The optimal linear …

Persistent link: https://www.econbiz.de/10013016371

The Ambiguity Triangle : Uncovering Fundamental Patterns of Behavior Under Uncertainty

Burghart, Daniel - 2015

risk preferences. Here, we develop an analogous tool for choice under uncertainty – the ambiguity triangle – and show that … characterize this heterogeneity with finite-mixture estimates of a one-parameter extension of Expected Utility Theory wherein 48 …

Persistent link: https://www.econbiz.de/10013016343

Tax-Benefit Systems in Europe and the US : Between Equity and Efficiency

Bargain, Olivier - 2011

Whether observed differences in redistributive policies across countries are the result of differences in social preferences or efficiency constraints is an important question that paves the debate about the optimality of welfare regimes. To shed new light on this question, we estimate labor...

Persistent link: https://www.econbiz.de/10013131163

Dynamic Incentive Contracts Under Parameter Uncertainty

Prat, Julien - 2010

We analyze a long-term contracting problem involving common uncertainty about a parameter capturing the productivity of the relationship, and featuring a hidden action for the agent. We develop an approach that works for any utility function when the parameter and noise are normally distributed...

Persistent link: https://www.econbiz.de/10013135822

The "Bomb" Risk Elicitation Task

Crosetto, Paolo - 2012

This paper presents the Bomb Risk Elicitation Task (BRET), an intuitive procedure aimed at measuring risk attitudes … truncation of the data, allows to precisely estimate both risk aversion and risk seeking, and is not affected by the degree of … loss aversion or by violations of the Reduction Axiom. We validate the task and test its robustness in a large …

Persistent link: https://www.econbiz.de/10013103490

Investment and Subjective Uncertainty

Bloom, Nicholas; Davis, Steven J.; Foster, Lucia; … - 2022

A longstanding challenge in evaluating the impact of uncertainty on investment is obtaining measures of managers' subjective uncertainty. We address this challenge by using a detailed new survey measure of subjective uncertainty collected by the U.S. Census Bureau for approximately 25,000...

Persistent link: https://www.econbiz.de/10014240723

How Uncertainty and Ambiguity in Tournaments Affect Gender Differences in Competitive Behavior

Balafoutas, Loukas - 2019

Tournament incentives prevail in labor markets. Yet, the number of tournament winners is often unclear to competitors. While it is hard to measure how this uncertainty affects work performance and willingness to compete in the field, it can be studied in a controlled lab experiment. We present a...

Persistent link: https://www.econbiz.de/10012868836

The Effect of Macroeconomic Uncertainty on Firm Decisions

Kumar, Saten; Gorodnichenko, Yuriy; Coibion, Olivier - 2022

Using a new survey of firms in New Zealand, we document how exogenous variation in the macroeconomic uncertainty perceived by firms affects their economic decisions. We use randomized information treatments that provide different types of information about the first and/or second moments of...

Persistent link: https://www.econbiz.de/10013403719