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Economic and Social Security in the Twenty-First Century, with Attention to Europe

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  • Dreze, Jacques H

Abstract

A 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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Article provided by Wiley Blackwell in its journal Scandinavian Journal of Economics.

Volume (Year): 102 (2000)
Issue (Month): 3 (June)
Pages: 327-48

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Handle: RePEc:bla:scandj:v:102:y:2000:i:3:p:327-48

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Cited by:
  1. Luciano Greco, 2006. "Optimal Redistribution With Productive Social Services," "Marco Fanno" Working Papers 0026, Dipartimento di Scienze Economiche "Marco Fanno".
  2. Agell, Jonas, 2001. "On the Determinants of Labour Market Institutions: Rent Seeking vs. Social Insurance," Research Papers in Economics 2001:12, Stockholm University, Department of Economics.
  3. Pierre M. Picard & Tim Worrall, 2009. "Currency Unions and International Assistance," CREA Discussion Paper Series 09-01, Center for Research in Economic Analysis, University of Luxembourg.
  4. Eduardo Borensztein & Olivier Jeanne & Paolo Mauro & Jeromin Zettelmeyer & Marcos Chamon, 2005. "Sovereign Debt Structure for Crisis Prevention," IMF Occasional Papers 237, International Monetary Fund.

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