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Redistributive policies in general equilibrium

Author

Listed:
  • George Economides

    (Athens University of Economics and Business)

  • Apostolis Philippopoulos

    (Athens University of Economics and Business)

  • Stylianos Sakkas

    (European Commission - JRC)

Abstract

We develop a general equilibrium OLG model to evaluate a wide menu of popular redistributive policies in a unified context. We work in two steps: First, we study how initial conditions in human and financial capital, as inherited from family background, shape individuals' human capital, and hence their work opportunities, income and wealth, and eventually macroeconomic outcomes. Second, we study which policies can reduce this type of inequality without, hopefully, damaging macroeconomic efficiency.

Suggested Citation

  • George Economides & Apostolis Philippopoulos & Stylianos Sakkas, 2021. "Redistributive policies in general equilibrium," JRC Working Papers on Territorial Modelling and Analysis 2021-08, Joint Research Centre.
    • Handle: RePEc:ipt:termod:202108
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    File URL: https://publications.jrc.ec.europa.eu/repository/handle/JRC126365
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    More about this item

    Keywords

    Inequality; efficiency; government expenditures; public policy.;
    All these keywords.

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General

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