| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15111 |
| 来源ID | Working Paper 15111 |
| Risk Sharing, Inequality and Fertility | |
| Roozbeh Hosseini; Larry E. Jones; Ali Shourideh | |
| 发表日期 | 2009-06-25 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | We use an extended Barro-Becker model of endogenous fertility, in which parents are heterogeneous in their labor productivity, to study the efficient degree of consumption inequality in the long run. In our environment a utilitarian planner allows for consumption inequality even when labor productivity is public information. We show that adding private information does not alter this result. We also show that the informationally constrained optimal insurance contract has a resetting property - whenever a family line experiences the highest shock, the continuation utility of each child is reset to a (high) level that is independent of history. This implies that there is a non-trivial, stationary distribution over continuation utilities and there is no mass at misery. The novelty of our approach is that the no-immiseration result is achieved without requiring that the objectives of the planner and the private agents disagree. Because there is no discrepancy between planner and private agents' objectives, the policy implications for implementation of the efficient allocation differ from previous results in the literature. Two examples of these are: 1) estate taxes are positive and 2) there are positive taxes on family size. |
| 主题 | Microeconomics ; Mathematical Tools ; Market Structure and Distribution ; Welfare and Collective Choice ; Public Economics ; Taxation ; Public Goods |
| URL | https://www.nber.org/papers/w15111 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/572786 |
| 推荐引用方式 GB/T 7714 | Roozbeh Hosseini,Larry E. Jones,Ali Shourideh. Risk Sharing, Inequality and Fertility. 2009. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w15111.pdf（743KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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