| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10622 |
| DP10622 Education and Optimal Dynamic Taxation: The Role of Income-Contingent Student Loans | |
| Sebastian Findeisen; Dominik Sachs | |
| 发表日期 | 2015-05-24 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | We study the optimal design of integrated education finance and tax systems. The distribution of wages is endogenously determined by the costly education decisions of heterogeneous individuals before labor market entry. Consistent with empirical evidence, this human capital investment decision is risky. We find that an integrated education and tax system in which the government provides education loans to young individuals coupled with income-contingent repayment can always be designed in a Pareto optimal way. We present a simple empirically driven application of the framework to US data in which individuals make a college entry decision. We find the optimal repayment schemes for college loans can be well approximated by a schedule that is linearly increasing in income up to a threshold and constant afterwards. So although the full optimum could lead to complicated non-linear schedules in theory, very simple instruments can replicate it fairly well. The welfare gains from income-contingent repayment are significant. |
| 主题 | Public Economics |
| 关键词 | Education Education finance Optimal taxation Student loans |
| URL | https://cepr.org/publications/dp10622 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539454 |
| 推荐引用方式 GB/T 7714 | Sebastian Findeisen,Dominik Sachs. DP10622 Education and Optimal Dynamic Taxation: The Role of Income-Contingent Student Loans. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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