Arbeitspapier
Optimal policy and the risk properties of human capital reconsidered
This paper considers how optimal education and tax policy depends on the risk properties of human capital. It is demonstrated that a key feature of human capital investments is whether they increase or decrease wage risk. In a benchmark model it is shown that this feature alone determines whether a constrained optimal allocation should be characterized by a positive or a negative education premium. In the same model a positive intertemporal wedge is optimal. A set of generalizations, including non-observability of education, non-observability of consumption, and temporal resolution of uncertainty, are then considered to examine the robustness of these results.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 2451
- Klassifikation
-
Wirtschaft
Criteria for Decision-Making under Risk and Uncertainty
Taxation and Subsidies: Efficiency; Optimal Taxation
Analysis of Education
- Thema
-
Education
optimal taxation
risk
Bildungsinvestition
Entscheidung bei Risiko
Optimale Besteuerung
Bildungspolitik
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Anderberg, Dan
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2008
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Anderberg, Dan
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2008
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