Similar Search Results

Why do voters support procyclical fiscal policies? : experimental evidence from Latin America

Ardanaz, Martin; Hübscher, Evelyne; Keefer, Philip; … - 2023

Governments often pursue procyclical fiscal policies, even though they reduce voter welfare. Is this because voters actually prefer procyclical policies? The analysis in this paper exploits the first individual-level evidence from an original survey of 12,000 respondents in 8 countries across...

Persistent link: https://www.econbiz.de/10014460802

Optimal random taxation and redistribution

Gauthier, Stéphane; Laroque, Guy - 2022

We assess the usefulness of stochastic redistribution among a continuum of risk-averse agents with quasilinear utilities in labor. Agents differ according to their consumption tastes, which remain private information. We identify circumstances where stochastic redistribution is socially...

Persistent link: https://www.econbiz.de/10013464907

Cream Skimming, Dregs Skimming, and Pooling: On the Dynamics of Competitive Screening

Lund, Diderik; Nilssen, Tore - 2003

We discuss the existence of a pooling equilibrium in a two-period model of an insurance market with asymmetric …

Persistent link: https://www.econbiz.de/10012142264

Multiple losses, ex-ante moral hazard, and the non-optimality of the standard insurance contract

Breuer, Michael (contributor) - 2003 - [Elektronische Ressource]

Under certain conditions the optimal insurance policy will offer full coverage above a deductible, as Arrow and others … have shown long time ago. Interestingly, the same design of insurance policies applies in case of a single loss and ex …-ante moral hazard. However, many insurance policies provide coverage against a variety of losses and the possibilities for the …

Persistent link: https://www.econbiz.de/10001744785

Deductible or co-insurance: which is the better insurance contract under adverse selection?

Breuer, Michael (contributor) - 2004 - [Elektronische Ressource]

form of an insurance contract to impose partial insurance of the low risks. This paper contributes to the discussion on … optimal insurance. It analyzes two basic forms of insurance contracts: A contract with a deductible and a contract imposing a … positive co-insurance rate. Since high risks can always self-reveal themselves as high risks and buy the optimal insurance …

Persistent link: https://www.econbiz.de/10001957148

Unemployment insurance in high informality countries

Espino, Emilio; Sanchez, Juan M. - 2013

Providing unemployment insurance is particularly problematic in countries with high informality because workers can … alternative schemes to provide insurance for unemployed individuals. First, it presents an economy that can be calibrated to … unemployment insurance savings account (UISA) scheme can be evaluated. The method is applied to Mexico, and the results show how …

Persistent link: https://www.econbiz.de/10011303255

Weddings with uncertain prospects : mergers under asymmetric information

Borek, Thomas (contributor); Bühler, Stefan (contributor); … - 2004 - [Elektronische Ressource]

We provide a framework for analyzing bilateral mergers when there is two-sided asymmetric information about firms’ types. We show that there is always a "no-merger" equilibrium where firms do not consent to a merger, irrespective of their type. There may also be a "cut-off" equilibrium if the...

Persistent link: https://www.econbiz.de/10001729427

Endogenizing private information : incentive contracts under learning by doing

Gärtner, Dennis (contributor) - 2004 - [Elektronische Ressource]

This paper investigates the design of incentives in a dynamic adverse selection framework when agents’ production technologies display learning effects and agents’ rate of learning is private knowledge. In a simple two-period model with full commitment available to the principal, we show...

Persistent link: https://www.econbiz.de/10002521609

Mergers under asymmetric information - is there a lemons problem?

Borek, Thomas (contributor); Bühler, Stefan (contributor); … - 2004 - [Elektronische Ressource]

We analyze a Bayesian merger game under two-sided asymmetric information about firm types. We show that the standard prediction of the lemons market model–if any, only low-type firms are traded–is likely to be misleading: Merger returns, i.e. the difference between pre- and post-merger...

Persistent link: https://www.econbiz.de/10002202342

Dynamic regulation of public franchises with imperfectly correlated demand shocks

Buso, Marco; Dosi, Cesare; Moretto, Michele - 2023

In a continuous-time setting, we study the design of a dynamic contract between a government and a private entity, wherein the latter commits to pay the government in return for the exclusive right to sell a service by operating a public facility. Private revenues are modelled as depending on...

Persistent link: https://www.econbiz.de/10013547855