Replication data for: Redistribution and Social Insurance
Principal Investigator(s): View help for Principal Investigator(s) Mikhail Golosov; Maxim Troshkin; Aleh Tsyvinski
Version: View help for Version V1
Project Citation:
Golosov, Mikhail, Troshkin, Maxim, and Tsyvinski, Aleh. Replication data for: Redistribution and Social Insurance. Nashville, TN: American Economic Association [publisher], 2016. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112869V1
Project Description
Summary:
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We study optimal redistribution and insurance in a life-cycle economy with private idiosyncratic shocks. We characterize Pareto optima, show the forces determining optimal labor distortions, and derive closed form expressions for their limiting behavior. The labor distortions for high-productivity shocks are determined by the labor elasticity and the higher moments of the shock process; the labor distortions for low-productivity shocks are determined by the autocorrelation of the shock process, redistributive objectives, and past distortions. In a model calibrated using newly available estimates of idiosyncratic shocks, the labor distortions are U-shaped and the savings distortions generally increase in current earnings. (JEL D82, D91, H21, H23, I38, J22, J24)
Scope of Project
JEL Classification:
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D82 Asymmetric and Private Information; Mechanism Design
D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
H21 Taxation and Subsidies: Efficiency; Optimal Taxation
H23 Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies
I38 Welfare, Well-Being, and Poverty: Government Programs; Provision and Effects of Welfare Programs
J22 Time Allocation and Labor Supply
J24 Human Capital; Skills; Occupational Choice; Labor Productivity
D82 Asymmetric and Private Information; Mechanism Design
D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
H21 Taxation and Subsidies: Efficiency; Optimal Taxation
H23 Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies
I38 Welfare, Well-Being, and Poverty: Government Programs; Provision and Effects of Welfare Programs
J22 Time Allocation and Labor Supply
J24 Human Capital; Skills; Occupational Choice; Labor Productivity
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