Occupational risks, social insurance and investments in education
AbstractA link between social insurance and education policy is explored. Due to moral hazard full insurance against disability is not feasible. When high- and low-risk individuals can be identified second-best social insurance system entails cross-subsidies from the low-risk group to the high-risk group. Implementation of this second-best insurance however distorts the human capital investment decisions when education qualifies for a low risk job. Therefore, the second-best social insurance together with an education subsidy is a welfare improving policy. An education policy also has the role of establishing dynamic consistency of the government's policy.
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Bibliographic InfoArticle provided by Springer in its journal Journal of Population Economics.
Volume (Year): 13 (2000)
Issue (Month): 3 ()
Note: Received: 16 October 1998/Accepted: 8 September 1999
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Web page: http://link.springer.de/link/service/journals/00148/index.htm
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Find related papers by JEL classification:
- H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
- H42 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Private Goods
- I28 - Health, Education, and Welfare - - Education - - - Government Policy
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