Economic and social security in the twenty-first century, with attention to EuropeNo 2000015, LIDAM Discussion Papers CORE from Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) Abstract: A partly heuristic attempt at exploring long-run policies aimed at a second-best compromise between ex ante risk-sharing efficiency and ex post productive efficiency. Wage subsidies for low-skilled workers financed by taxes on high wages are advocated, together with improved risk sharing between capital and labour, between generations and between the countries belonging to EMU. The scope of the advocated policies is limited by considerations of moral hazard, time consistency and fiscal competition. Also, estimates of some key economic parameters remain very imprecise. Several avenues of further research are identified. Keywords: social insurance; moral hazard; fiscal competition; intergenerational risk sharing; international risk sharing. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:cor:louvco:2000015 Access Statistics for this paper More papers in LIDAM Discussion Papers CORE from Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) Voie du Roman Pays 34, 1348 Louvain-la-Neuve (Belgium). Contact information at EDIRC. |
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