Credibility, inflation and incentive distortions in the welfare state:
Saved in:
| Main Author: | |
|---|---|
| Format: | Thesis Book |
| Language: | German |
| Published: |
Göteborg
Nationalekonomiska Inst., Handelshögskolan vid Göteborgs Univ.
1996
|
| Series: | Ekonomiska studier
58 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | VIII, 155 S. graph. Darst. |
| ISBN: | 918851417X |
Staff View
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| 245 | 1 | 0 | |a Credibility, inflation and incentive distortions in the welfare state |c Alvaro Forteza |
| 264 | 1 | |a Göteborg |b Nationalekonomiska Inst., Handelshögskolan vid Göteborgs Univ. |c 1996 | |
| 300 | |a VIII, 155 S. |b graph. Darst. | ||
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| 490 | 1 | |a Ekonomiska studier |v 58 | |
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Record in the Search Index
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| adam_text | Contents
List of Figures viii
1. Introduction 1
1.1 The wage bargaining structure and the inflationary bias 2
1.2 Welfare states 4
References 11
2. The wage bargaining structure and the inflationary bias 13
2.1 Introduction 13
2.2 The game 15
2.3 The one shot game 17
2.4 The target gap and the bargaining structure 22
2.5 Pareto inefficiency and inflationary bias in the one shot game equilibrium 25
2.6 The repeated game 28
2.7 Concluding remarks 29
Appendix 32
References 40
3. Overinsurance in the welfare state 43
3.1 Introduction 43
3.2 Time inconsistency and the overprovision of state insurance 46
3.3 Non separable utility functions and multiple equilibria 55
3.4 Reputation 63
v
3.5 Concluding remarks 65
Appendix 68
References 70
4. Multiple equilibria in the welfare state with heterogenous agents 73
4.1 Introduction 73
4.2 A model with heterogenous agents 74
4.2.1 The second stage: the government reaction function (GRF) 77
4.2.2 The first stage: the private sector reaction function 82
4.3 The equilibria 85
4.4 Concluding remarks 94
Appendix 96
References 105
5. Multiple equilibria in the welfare state with costly policies 107
5.1 Introduction 107
5.2 The model 109
5.3 The equilibria 112
5.3.1 The government reaction function 112
5.3.2 Private agents strategies 117
5.3.3 The equilibria 119
5.4 Welfare 124
5.5 Concluding remarks 127
Appendix 129
References 130
vi
6. Welfare state dynamics 133
6.1 Introduction 133
6.2 The model 136
6.3 The stability properties of the stationary states 142
6.4 Concluding remarks 152
Appendix 153
References 155
vii
List of Figures
2.1: Unions real wage target 23
3.1a: Full insurance and low effort 50
3.1b: Incomplete insurance and high effort 51
3.2: Overinsurance 53
3.3: Discretionary equilibria 63
4.1: The government reaction function (GRF) 79
4.2: Incentive lines and effort regions 84
4.3: The proportion of hard workers correspondence with completely heterogenous
population (an example with three equilibria) 87
4.4: The three equilibria example of figure 4.3 represented in the w W space 89
4.5: The proportion of hard workers correspondence when a non negligible part of the
population exhibits index iB 89
4.6: The proportion of hard workers correspondence with homogenous population (an
example with three equilibria) 90
4.7: Points 1 and 2 are not Pareto rankable 93
5.1: The government reaction function 116
5.2: Effort regions 119
5.3: Equilibria when costs of redistributive policies are small 120
5.4: Equilibria when costs of redistributive policies are large 122
5.5: Equilibria when costs of redistributive policies are intermediate 123
5.6: Expected utility associated with different marginal costs of the redistributive
policies 126
6.1: An example with three stationary states 140
6.2: The difference of expected instantaneous utilities in the example of figure 6.1 141
viii
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| id | DE-604.BV010797811 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T17:59:03Z |
| institution | BVB |
| isbn | 918851417X |
| language | German |
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| physical | VIII, 155 S. graph. Darst. |
| publishDate | 1996 |
| publishDateSearch | 1996 |
| publishDateSort | 1996 |
| publisher | Nationalekonomiska Inst., Handelshögskolan vid Göteborgs Univ. |
| record_format | marc |
| series | Ekonomiska studier |
| series2 | Ekonomiska studier |
| spelling | Forteza, Alvaro Verfasser aut Credibility, inflation and incentive distortions in the welfare state Alvaro Forteza Göteborg Nationalekonomiska Inst., Handelshögskolan vid Göteborgs Univ. 1996 VIII, 155 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Ekonomiska studier 58 Zugl.: Göteborg, Univ., Diss., 1996 Gleichgewichtsmodell (DE-588)4125214-7 gnd rswk-swf Wirtschaftspolitik (DE-588)4066493-4 gnd rswk-swf Wohlfahrtsstaat (DE-588)4117641-8 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Wohlfahrtsstaat (DE-588)4117641-8 s Wirtschaftspolitik (DE-588)4066493-4 s Gleichgewichtsmodell (DE-588)4125214-7 s DE-604 Ekonomiska studier 58 (DE-604)BV000011510 58 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=007212379&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Forteza, Alvaro Credibility, inflation and incentive distortions in the welfare state Ekonomiska studier Gleichgewichtsmodell (DE-588)4125214-7 gnd Wirtschaftspolitik (DE-588)4066493-4 gnd Wohlfahrtsstaat (DE-588)4117641-8 gnd |
| subject_GND | (DE-588)4125214-7 (DE-588)4066493-4 (DE-588)4117641-8 (DE-588)4113937-9 |
| title | Credibility, inflation and incentive distortions in the welfare state |
| title_auth | Credibility, inflation and incentive distortions in the welfare state |
| title_exact_search | Credibility, inflation and incentive distortions in the welfare state |
| title_full | Credibility, inflation and incentive distortions in the welfare state Alvaro Forteza |
| title_fullStr | Credibility, inflation and incentive distortions in the welfare state Alvaro Forteza |
| title_full_unstemmed | Credibility, inflation and incentive distortions in the welfare state Alvaro Forteza |
| title_short | Credibility, inflation and incentive distortions in the welfare state |
| title_sort | credibility inflation and incentive distortions in the welfare state |
| topic | Gleichgewichtsmodell (DE-588)4125214-7 gnd Wirtschaftspolitik (DE-588)4066493-4 gnd Wohlfahrtsstaat (DE-588)4117641-8 gnd |
| topic_facet | Gleichgewichtsmodell Wirtschaftspolitik Wohlfahrtsstaat Hochschulschrift |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=007212379&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| volume_link | (DE-604)BV000011510 |
| work_keys_str_mv | AT fortezaalvaro credibilityinflationandincentivedistortionsinthewelfarestate |