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In earlier literature, the suggested Pareto improvements in pay-as-you-go (PAYG) systems have relied on the presence of externalities or the possibility of intragenerational redistribution. We show that neither assumption is necessary in an economy with intergenerational trade in a fixed factor...
Persistent link: https://www.econbiz.de/10011539002
Heckman selection bias and the GMM estimators to estimate income distributional effects of CAP subsidies. The results do not … confirm the theoretical hypothesis that landowners benefit a large share of the CAP subsidies. According to our estimates … decupled payments, respectively. The CAP subsidies are only marginally capitalised in land rents. Our results suggest that the …
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The Coase theorem presents two criteria for evaluating regulation. The first is how successful the regulation is at reaching the efficient outcome relative to private solutions. The second and less discussed criterion is how the regulation affects the distribution of wealth. Previous studies of...
Persistent link: https://www.econbiz.de/10011569035
Using representative and consistent microdata from the German Socio-Economic Panel Study (SOEP) from 1985-2007, we illustrate that capital income (CI = return on financial investments) and imputed rent (IR = return on investments in owner-occupied housing) have become increasingly important...
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Decoupled direct payments were introduced in the European Union (EU) by the 2003 CAP reform in form of the Single Payment Scheme (SPS) and the Single Area Payment System (SAPS). The 2013 CAP reform changed both the implementation of decoupled payments as well as its budget. We assess the...
Persistent link: https://www.econbiz.de/10011784362