Ex post versus ex ante optimal policies for risky activities
AbstractThis paper analyzes government policy when random shocks affect particular industries, occupations or regions. Workers can freely choose and industry or occupation ex ante, and can relocate at a cost, once uncertainty is resolved. The policy instruments available are per capita taxes and subsidies. These are chosen either to maximize ex post utilitarian aggregate welfare, or to maximize ex ante expected utility of a representative worker. Optimal policies range from complete equalization of net incomes across workers to no equalizing transfers.
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Bibliographic InfoPaper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 1987038.
Date of creation: 01 Jan 1987
Date of revision:
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Other versions of this item:
- Robin Boadway & David E. Wildasin, 1986. "Ex Post Versus Ex Ante Optimal Policies for Risky Activities," Working Papers 676, Queen's University, Department of Economics.
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