Social insurance, incentives and risk taking View Full Text


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Article Info

DATE

1996-07

AUTHORS

Hans-Werner Sinn

ABSTRACT

From the perspective of parents, redistributive taxation can be seen as social insurance for their children, for which no private alternative exists. Because private insurance comes too late during a person's life, it cannot cover the same risks as social insurance. Empirically, 85% of social insurance covers risks for which no private insurance would have been available. Redistributive taxation can be efficiency enhancing, because it creates safety and because it stimulates income generating risk taking. However, it also brings about detrimental moral hazard effects. Both the enhancement of risk taking and the moral hazard effects tend to increase the inequality in the economy, and, under constant returns to risk taking, this increase is likely to be strong enough even to make the net-of-tax income distribution more unequal. Optimal redistributive taxation will either imply that the pie becomes bigger when there is less inquality in pre-tax incomes or that more redistribution creates more post-tax inequality. More... »

PAGES

259-280

References to SciGraph publications

  • 1991-12-01. Incentives, Redistribution and Social Insurance in THE GENEVA RISK AND INSURANCE REVIEW
  • 1991-12-01. Risk Taking and Taxation in Complete Capital Markets in THE GENEVA RISK AND INSURANCE REVIEW
  • 1991-12-01. Social Insurance in THE GENEVA RISK AND INSURANCE REVIEW
  • 1972-06. Risk-taking and taxation in JOURNAL OF ECONOMICS
  • 1992. Risikoproduktivität in NONE
  • 1984-06. The effects of progressive taxation on risk-taking in JOURNAL OF ECONOMICS
  • 1990-09. Expected utility, μ-σ preferences, and linear distribution classes: A further result in JOURNAL OF RISK AND UNCERTAINTY
  • 1988-03. Gedanken zur volkswirtschaftlichen Bedeutung des Versicherungswesens in ZEITSCHRIFT FÜR DIE GESAMTE VERSICHERUNGSWISSENSCHAFT
  • Identifiers

    URI

    http://scigraph.springernature.com/pub.10.1007/bf00418944

    DOI

    http://dx.doi.org/10.1007/bf00418944

    DIMENSIONS

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