G2TT
来源类型Discussion paper
规范类型论文
来源IDDP14746
DP14746 Progressive Sovereign Wealth Funds
Giacomo Corneo
发表日期2020-05-11
出版年2020
语种英语
摘要A government with a good financial reputation could use its borrowing power to build a sovereign wealth fund that mainly invests in the world stock market. In expectation, it would gain the equity risk premium multiplied by the size of the fund. That gain could be earmarked to a social dividend, which would reduce income inequality. This paper develops a simple model in which the creation of such a fund generates a Pareto improvement. Then, it derives a formula for its socially optimal size and proposes an institutional framework for its management. Finally, it compares this policy with one of promoting popular capitalism.
主题Public Economics
关键词Income inequality Public ownership
URLhttps://cepr.org/publications/dp14746
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/543670
推荐引用方式
GB/T 7714
Giacomo Corneo. DP14746 Progressive Sovereign Wealth Funds. 2020.
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