Human Capital, Polarisation and Pareto-improving Activating Welfare
Dados Bibliográficos
| ID | 9706106 |
|---|---|
| Autores | Peter Funk (0000-0002-1455-4552, University of Cologne, autor correspondente) |
| Ano | 2019 |
| Volume | 129 |
| Fascículo | 619 |
| Páginas | 1221-1246 |
| Data de publicação | 2019-04-01 |
| Peer Reviewed | Sim |
| Open Access | Sim |
| Tipo | ARTICLE |
| Periódico | The Economic Journal (JOURNAL) |
| Identificadores do periódico | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Editora | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/ecoj.12575 |
| OpenAlex | W2225540178 |
| Idioma | EN |
| Referências citadas | 14 |
Human capital not only earns income but also is a source of direct felicity. The interaction between these two motives for effort can generate multiple stationary solutions for individual household optimisation. This multiplicity freezes any sufficiently unequal initial skill distribution and persistently segregates households into two separate groups: one rich and educated, one poor and uneducated. If public goods are to be financed, polarisation is typically Pareto-inefficient. While unconditional transfers only reduce the incentive to accumulate skills, activating tax-transfer systems that Pareto-dominate any non-redistributing system exist. Transfers are transitory and a negative marginal income tax is imposed on poor households’ income
Distribution (mathematics · Economics · Human capital · Incentive · Income distribution · Inequality · Labour economics · Market economy · Microeconomics · Pareto principle · Public good · Welfare · Financial Literacy, Pension, Retirement Analysis · Fiscal Policy and Economic Growth · Gender, Labor, and Family Dynamics
| Velocidade de citação | historical |
|---|---|
| Altamente citado | Não |