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Economic and social security in the twenty-first century, with attention to Europe

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  • DREZE, Jacques

Abstract

A partly heuristic attempt at exploring 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 between the countries belonging to EMU. The scope of the advocated policies is limited by considerations of moral hazard, time consistency and fiscal competition. Also, estimates of some key economic parameters remain very imprecise. Several avenues of further research are identified.

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Bibliographic Info

Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 2000015.

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Date of creation: 00 Mar 2000
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Handle: RePEc:cor:louvco:2000015

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Keywords: social insurance; moral hazard; fiscal competition; intergenerational risk sharing; international risk sharing.;

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References

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  1. Dreze, J. & Gollier, C., 1990. "Risk-sharing on the labour market and second-best wage rigidities," CORE Discussion Papers 1990067, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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  29. DREZE, Jacques H. & SNEESSENS, Henri, 1994. "Technical Development, Competition from Low-Wage Economies and Low-Skilled Unemployment," CORE Discussion Papers 1994036, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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Cited by:
  1. Jonas Agell, 2002. "On the Determinants of Labour Market Institutions: Rent Seeking vs. Social Insurance," German Economic Review, Verein für Socialpolitik, vol. 3(2), pages 107-135, 05.
  2. Eduardo Borensztein & Olivier Jeanne & Paolo Mauro & Jeromin Zettelmeyer & Marcos Chamon, 2005. "Sovereign Debt Structure for Crisis Prevention," IMF Occasional Papers 237, International Monetary Fund.
  3. Luciano G. Greco, 2011. "Optimal Redistribution with Productive Social Services," Scandinavian Journal of Economics, Wiley Blackwell, vol. 113(1), pages 55-73, 03.
  4. 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.

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