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Optimal family policy in the presence of moral hazard, when the quantity and quality of children are stochastic

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Author Info
Alessandro Cigno ()
Annalisa Luporini

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Abstract

We examine the second-best family policy under the assumption that both the number, and the future earning capacities of the children born to a couple are random variables with probability distributions conditional on unobservable parental actions. Potential parents take their decisions without taking into account the e¤ects of these actions on the government?s future tax revenue. The second-best policy provides parents with credit and insurance, and allows them to appropriate the external benefits of their actions.

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File URL: http://www.child-centre.it/papers/child13_2009.pdf
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Publisher Info
Paper provided by CHILD - Centre for Household, Income, Labour and Demographic economics - ITALY in its series CHILD Working Papers with number wp13_09.

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Length: 17 pages
Date of creation: Apr 2009
Date of revision:
Handle: RePEc:wpc:wplist:wp13_09

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Related research
Keywords: stochastic quantity and quality of children; moral hazard; population externalities; family allowances; scholarships; pensions;

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Find related papers by JEL classification:
D13 - Microeconomics - - Household Behavior - - - Household Production and Intrahouse Allocation
D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy-Making and Implementation
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information
H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household
J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth

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References listed on IDEAS
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  1. Sinn, Hans-Werner, 2004. "The pay-as-you-go pension system as fertility insurance and an enforcement device," Journal of Public Economics, Elsevier, vol. 88(7-8), pages 1335-1357, July. [Downloadable!] (restricted)
  2. Sinn, Hans-Werner, 2004. "The pay-as-you-go pension system as fertility insurance and an enforcement device," Discussion Papers in Economics 938, University of Munich, Department of Economics. [Downloadable!]
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This page was last updated on 2009-11-1.

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