Economic and Social Security in the Twenty-First Century, with Attention to Europe
AbstractA partly heuristic attempt is made to explore long-run policies aimed at a second-best compromise between ex ante risk-sharing efficiency and ex post productive efficiency. Wage subsidies for low-skilled workers financed by taxes on high wages are advocated, together with improved risk sharing between capital and labour, between generations and among the countries belonging to EMU. The scope of the policies advocated is limited by considerations of moral hazard, time consistency and fiscal competition. Moreover, estimates of some key economic parameters remain very imprecise. Several avenues of further research are identified. Copyright 2000 by The editors of the Scandinavian Journal of Economics.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Scandinavian Journal of Economics.
Volume (Year): 102 (2000)
Issue (Month): 3 (June)
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Web page: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-9442
Other versions of this item:
- DREZE, Jacques, 2000. "Economic and social security in the twenty-first century, with attention to Europe," CORE Discussion Papers 2000015, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
- H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
- E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
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