uninsurable labor income risk, and economic growth in a small open overlapping-generations economy with heterogeneous agents. It … demonstrates how the role of the personal income distribution for an economy?s process of development through risky human capital …, children?s human capital investments are positively affected by parents? income. Second, the marginal propensity to save is …

model with idiosyncratic labor income risk. In our model economy, even a moderate earnings testing reduces individuals …

then use our model to consider the long-term lifecycle effects of two reforms: One is the introduction of an Earned Income …

influence future discussions of tax reform. Indeed, this can already be recognised in the Henry Review. As far as income … direction for reform is towards more progressive taxation of both labour earnings and capital income, although not necessarily …

a market for cloning arises if a large enough fraction of the clone?s income can be appropriated by its model. Only … people with the highest ability are cloned, while people at the bottom of the distribution of income specialize in surrogacy …