How costly are the imperfections of conditional welfare programs? Should we replace these programs with a Universal Basic Income (UBI)? We answer these questions using a general equilibrium model with incomplete markets, accounting for three overlooked imperfections of real-life conditional...

This paper uses a unique survey questionnaire to assess the impact of the 2002 French tax cut on consumption. I find that the proportion of "spender" consumers as opposed to "Ricardian" consumers is relatively high, with 52.7 per cent of the households declaring that they consume their tax cuts....

This paper uses a unique survey questionnaire to assess the impact of the 2002 French tax cut on consumption. I find that the proportion of "spender" consumers as opposed to "Ricardian" consumers is relatively high, with 52.7 per cent of the households declaring that they consume their tax cuts....

This paper studies how insurance from progressive taxation improves the matching of workers to occupations. We propose an equilibrium dynamic assignment model to illustrate how social insurance encourages mobility. Workers experiment to find their best occupational fit in a process filled with...

This paper examines how sales of local small businesses can be promoted through COVID-19 stimulus payments. In the beginning of April, 2020, Gyeonggi provincial government in Korea implemented a stimulus payment program worth up to 500 thousand Korean Won (416 US dollars) per person to encourage...

The Keynesian approach claims that a reduction in average taxes and/or an increase in autonomous government expenditures will stimulate growth in the economy through multiplier effects. The supply side economics, however, considers mainly the necessary cut in effective economy-wide marginal tax...

What is the impact of replacing conditional welfare programs with a Universal Basic Income (UBI) that costs the same? We answer this question using a general-equilibrium model with incomplete markets that accounts for three imperfections of conditional programs: incomplete take-up, illegitimate...

Notably, Africa countries have enjoyed relatively strong economic growth for the past years (decade) mainly because of impressive global demand for primary commodities. Unfortunately, Africa’s economic growth had failed to generate many good jobs and thus postponing the benefits of the...

Pension funds are an important part of private savings flows, the main supplier of capital to industry and play a large and growing role in providing retirement incomes in countries with mature funded pension systems. Reforms which increase the emphasis on privately managed, funded pensions must...

A wide variety of tax regimes for (occupational) private pension saving are in place around the world. Generally, pension saving is taxed at a relatively low rate, although the revenue loss due to tax facilities for pension savings and/or pension tax expenditures may differ across countries. A...