skip to content
Covid-19 virus
COVID-19 Resources

Reliable information about the coronavirus (COVID-19) is available from the World Health Organization (current situation, international travel). Numerous and frequently-updated resource results are available from this WorldCat.org search. OCLC’s WebJunction has pulled together information and resources to assist library staff as they consider how to handle coronavirus issues in their communities.

Image provided by: CDC/ Alissa Eckert, MS; Dan Higgins, MAM
Consumption insurance against wage risk : family labor supply and optimal progressive income taxation Preview this item
ClosePreview this item
Checking...

Consumption insurance against wage risk : family labor supply and optimal progressive income taxation

Author: Chunzan Wu; Dirk Krueger; Centre for Economic Policy Research (Great Britain),
Publisher: London : Centre for Economic Policy Research, 2019.
Series: Discussion paper (Centre for Economic Policy Research (Great Britain)), no. 14108.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
We show that a calibrated life-cycle two-earner household model with endogenous labor supply can rationalize the extent of consumption insurance against shocks to male and female wages, as estimated empirically by Blundell, Pistaferri and Saporta-Eksten (2016) in U.S. data. In the model, 35% of male and 18% of female permanent wage shocks pass through to consumption, compared to the empirical estimates of 32% and  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

Find a copy online

Links to this item

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Chunzan Wu; Dirk Krueger; Centre for Economic Policy Research (Great Britain),
OCLC Number: 1126792611
Notes: "Published 08 November 2019"
"Submitted 07 November 2019"
Authors listed on CEPR HTML article page and preliminary PDF pages as: "Dirk Krueger, Chunzan Wu"
Description: 1 online resource (69 pages) : illustrations.
Series Title: Discussion paper (Centre for Economic Policy Research (Great Britain)), no. 14108.
Responsibility: Chunzan Wu and Dirk Krueger.

Abstract:

We show that a calibrated life-cycle two-earner household model with endogenous labor supply can rationalize the extent of consumption insurance against shocks to male and female wages, as estimated empirically by Blundell, Pistaferri and Saporta-Eksten (2016) in U.S. data. In the model, 35% of male and 18% of female permanent wage shocks pass through to consumption, compared to the empirical estimates of 32% and 19%. Most of the consumption insurance against permanent male wage shocks is provided through the presence and labor supply response of the female earner. Abstracting from this private intra-household income insurance mechanism strongly biases upward the welfare losses from idiosyncratic wage risk as well as the desired extent of public insurance through progressive income taxation. Relative to the standard one-earner life cycle model, the optimal degree of tax progressivity is significantly lower and the welfare gains from implementing the optimal system are cut roughly in half.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


\n\n

Primary Entity<\/h3>\n
<http:\/\/www.worldcat.org\/oclc\/1126792611<\/a>> # Consumption insurance against wage risk : family labor supply and optimal progressive income taxation<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Book<\/a>, schema:MediaObject<\/a>, schema:CreativeWork<\/a> ;\u00A0\u00A0\u00A0\nlibrary:oclcnum<\/a> \"1126792611<\/span>\" ;\u00A0\u00A0\u00A0\nlibrary:placeOfPublication<\/a> <http:\/\/id.loc.gov\/vocabulary\/countries\/enk<\/a>> ;\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Topic\/labor_supply_united_states_econometric_models<\/a>> ; # Labor supply--United States--Econometric models<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Topic\/income_tax_econometric_models<\/a>> ; # Income tax--Econometric models<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Topic\/income_tax_united_states_econometric_models<\/a>> ; # Income tax--United States--Econometric models<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Topic\/households_economic_aspects_united_states_econometric_models<\/a>> ; # Households--Economic aspects--United States--Econometric models<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Topic\/consumption_economics_econometric_models<\/a>> ; # Consumption (Economics)--Econometric models<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Topic\/consumption_economics_united_states_econometric_models<\/a>> ; # Consumption (Economics)--United States--Econometric models<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Topic\/labor_supply_econometric_models<\/a>> ; # Labor supply--Econometric models<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Place\/united_states<\/a>> ; # United States.<\/span>\n\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Topic\/households_economic_aspects_econometric_models<\/a>> ; # Households--Economic aspects--Econometric models<\/span>\n\u00A0\u00A0\u00A0\nschema:author<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Person\/wu_chunzan<\/a>> ; # Chunzan Wu<\/span>\n\u00A0\u00A0\u00A0\nschema:author<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Person\/krueger_dirk<\/a>> ; # Dirk Krueger<\/span>\n\u00A0\u00A0\u00A0\nschema:bookFormat<\/a> schema:EBook<\/a> ;\u00A0\u00A0\u00A0\nschema:datePublished<\/a> \"2019<\/span>\" ;\u00A0\u00A0\u00A0\nschema:description<\/a> \"We show that a calibrated life-cycle two-earner household model with endogenous labor supply can rationalize the extent of consumption insurance against shocks to male and female wages, as estimated empirically by Blundell, Pistaferri and Saporta-Eksten (2016) in U.S. data. In the model, 35% of male and 18% of female permanent wage shocks pass through to consumption, compared to the empirical estimates of 32% and 19%. Most of the consumption insurance against permanent male wage shocks is provided through the presence and labor supply response of the female earner. Abstracting from this private intra-household income insurance mechanism strongly biases upward the welfare losses from idiosyncratic wage risk as well as the desired extent of public insurance through progressive income taxation. Relative to the standard one-earner life cycle model, the optimal degree of tax progressivity is significantly lower and the welfare gains from implementing the optimal system are cut roughly in half.<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\nschema:exampleOfWork<\/a> <http:\/\/worldcat.org\/entity\/work\/id\/9674385517<\/a>> ;\u00A0\u00A0\u00A0\nschema:inLanguage<\/a> \"en<\/span>\" ;\u00A0\u00A0\u00A0\nschema:isPartOf<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Series\/discussion_paper_centre_for_economic_policy_research_great_britain<\/a>> ; # Discussion paper (Centre for Economic Policy Research (Great Britain)) ;<\/span>\n\u00A0\u00A0\u00A0\nschema:isPartOf<\/a> <http:\/\/worldcat.org\/issn\/0265-8003<\/a>> ; # Discussion paper series, Labour economics Public economics Monetary economics and fluctuations Macroeconomics and growth<\/span>\n\u00A0\u00A0\u00A0\nschema:name<\/a> \"Consumption insurance against wage risk : family labor supply and optimal progressive income taxation<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\nschema:productID<\/a> \"1126792611<\/span>\" ;\u00A0\u00A0\u00A0\nschema:publisher<\/a> <http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Organization\/centre_for_economic_policy_research_great_britain<\/a>> ; # Centre for Economic Policy Research (Great Britain),<\/span>\n\u00A0\u00A0\u00A0\nschema:url<\/a> <http:\/\/www.cepr.org\/active\/publications\/discussion_papers\/dp.php?dpno=14108<\/a>> ;\u00A0\u00A0\u00A0\nwdrs:describedby<\/a> <http:\/\/www.worldcat.org\/title\/-\/oclc\/1126792611<\/a>> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n\n

Related Entities<\/h3>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Organization\/centre_for_economic_policy_research_great_britain<\/a>> # Centre for Economic Policy Research (Great Britain),<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Organization<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Centre for Economic Policy Research (Great Britain),<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Person\/krueger_dirk<\/a>> # Dirk Krueger<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Person<\/a> ;\u00A0\u00A0\u00A0\nschema:familyName<\/a> \"Krueger<\/span>\" ;\u00A0\u00A0\u00A0\nschema:givenName<\/a> \"Dirk<\/span>\" ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Dirk Krueger<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Person\/wu_chunzan<\/a>> # Chunzan Wu<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Person<\/a> ;\u00A0\u00A0\u00A0\nschema:familyName<\/a> \"Wu<\/span>\" ;\u00A0\u00A0\u00A0\nschema:givenName<\/a> \"Chunzan<\/span>\" ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Chunzan Wu<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Place\/united_states<\/a>> # United States.<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Place<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"United States.<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Series\/discussion_paper_centre_for_economic_policy_research_great_britain<\/a>> # Discussion paper (Centre for Economic Policy Research (Great Britain)) ;<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nbgn:PublicationSeries<\/a> ;\u00A0\u00A0\u00A0\nschema:hasPart<\/a> <http:\/\/www.worldcat.org\/oclc\/1126792611<\/a>> ; # Consumption insurance against wage risk : family labor supply and optimal progressive income taxation<\/span>\n\u00A0\u00A0\u00A0\nschema:name<\/a> \"Discussion paper (Centre for Economic Policy Research (Great Britain)) ;<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Topic\/consumption_economics_econometric_models<\/a>> # Consumption (Economics)--Econometric models<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Consumption (Economics)--Econometric models<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Topic\/consumption_economics_united_states_econometric_models<\/a>> # Consumption (Economics)--United States--Econometric models<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Consumption (Economics)--United States--Econometric models<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Topic\/households_economic_aspects_econometric_models<\/a>> # Households--Economic aspects--Econometric models<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Households--Economic aspects--Econometric models<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Topic\/households_economic_aspects_united_states_econometric_models<\/a>> # Households--Economic aspects--United States--Econometric models<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Households--Economic aspects--United States--Econometric models<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Topic\/income_tax_econometric_models<\/a>> # Income tax--Econometric models<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Income tax--Econometric models<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Topic\/income_tax_united_states_econometric_models<\/a>> # Income tax--United States--Econometric models<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Income tax--United States--Econometric models<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Topic\/labor_supply_econometric_models<\/a>> # Labor supply--Econometric models<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Labor supply--Econometric models<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/experiment.worldcat.org\/entity\/work\/data\/9674385517#Topic\/labor_supply_united_states_econometric_models<\/a>> # Labor supply--United States--Econometric models<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nschema:Intangible<\/a> ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Labor supply--United States--Econometric models<\/span>\"@en<\/a> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/id.loc.gov\/vocabulary\/countries\/enk<\/a>>\u00A0\u00A0\u00A0\u00A0a \nschema:Place<\/a> ;\u00A0\u00A0\u00A0\ndcterms:identifier<\/a> \"enk<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/worldcat.org\/issn\/0265-8003<\/a>> # Discussion paper series, Labour economics Public economics Monetary economics and fluctuations Macroeconomics and growth<\/span>\n\u00A0\u00A0\u00A0\u00A0a \nbgn:PublicationSeries<\/a> ;\u00A0\u00A0\u00A0\nschema:hasPart<\/a> <http:\/\/www.worldcat.org\/oclc\/1126792611<\/a>> ; # Consumption insurance against wage risk : family labor supply and optimal progressive income taxation<\/span>\n\u00A0\u00A0\u00A0\nschema:issn<\/a> \"0265-8003<\/span>\" ;\u00A0\u00A0\u00A0\nschema:name<\/a> \"Discussion paper series, Labour economics Public economics Monetary economics and fluctuations Macroeconomics and growth<\/span>\" ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n
<http:\/\/www.worldcat.org\/title\/-\/oclc\/1126792611<\/a>>\u00A0\u00A0\u00A0\u00A0a \ngenont:InformationResource<\/a>, genont:ContentTypeGenericResource<\/a> ;\u00A0\u00A0\u00A0\nschema:about<\/a> <http:\/\/www.worldcat.org\/oclc\/1126792611<\/a>> ; # Consumption insurance against wage risk : family labor supply and optimal progressive income taxation<\/span>\n\u00A0\u00A0\u00A0\nschema:dateModified<\/a> \"2019-12-10<\/span>\" ;\u00A0\u00A0\u00A0\nvoid:inDataset<\/a> <http:\/\/purl.oclc.org\/dataset\/WorldCat<\/a>> ;\u00A0\u00A0\u00A0\u00A0.\n\n\n<\/div>\n\n

Content-negotiable representations<\/p>\n