The Resource Essays in public economics and empirical banking, Andreas Winkler

Essays in public economics and empirical banking, Andreas Winkler

Label
Essays in public economics and empirical banking
Title
Essays in public economics and empirical banking
Statement of responsibility
Andreas Winkler
Creator
Contributor
Subject
Language
eng
Summary
This thesis studies questions from the fields of public economics and empirical banking. The first chapter studies the question of how the design of pension system affects household labour supply incentives. The effective marginal tax rate of the pension system is derived directly from the households’ optimality conditions and decomposed into five components driven by inter- and intra-generational redistribution, demographics, borrowing constraints, and insurance. I provide quantitative results for the US, demonstrating that the effective tax rate lies significantly below the statutory rate. Eliminating progressivity from the US pension schedule significantly reduces effective marginal rates as it equalizes average and marginal replacement rates. The second chapter considers the introduction of a Vickrey-style lifetime income tax in a heterogeneous agent model with idiosyncratic risk. In a model with perfect foresight, lifetime income taxation leads to unambiguous welfare gains as it redistributes resources from high- consumption to low-consumption households. A similar argument does not hold for the case with idiosyncratic risk. In a lifecycle model calibrated to the US economy, a transition to a tax on lifetime income leads to small welfare losses as workers increase their savings early in life in order to insure against uncertain future tax liabilities. In the third chapter, we study the question how risk taking by banks responds to an exogenous change in leverage. We employ heterogeneity in the geographic distribution of banks’ offices in order to introduce an exogenous variation in deposit supply based on local economic shocks. This variation is used to instrument banks’ leverage. We measure bank risk taking by directly observing lending decisions on all residential mortgages in the US. In response to an exogenous decrease in their leverage, banks become more responsive to risk characteristics of residential mortgage loans, and the median predicted probability of default for issued loans decreases
Cataloging source
FIE
http://library.link/vocab/creatorName
Winkler, Andreas
Date time place
Defence date: 11 December 2018
Dewey number
332.15
Dissertation note
Thesis (Ph. D.)--European University Institute (ECO), 2018.
Illustrations
illustrations
Index
no index present
Literary form
non fiction
Nature of contents
theses
http://library.link/vocab/relatedWorkOrContributorName
European University Institute
Series statement
  • EUI PhD theses.
  • EUI theses
http://library.link/vocab/subjectName
  • Banks and banking
  • Economic policy
  • Taxation
Label
Essays in public economics and empirical banking, Andreas Winkler
Link
http://hdl.handle.net/1814/60241
Instantiates
Publication
Note
Examining board: Professor Árpád Ábrahám, EUI, Supervisor; Professor Dominik Sachs, University of Munich; Professor Andrés Erosa, Universidad Carlos III de Madrid; Professor Marek Kapička, CERGE-EI
Bibliography note
Includes bibliographical references (pages 125 - 130)
Carrier category
volume
Carrier category code
nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Dimensions
30 cm.
Extent
130 pages
Media category
unmediated
Media MARC source
rdamedia
Media type code
n
Other physical details
illustrations
System control number
(OCoLC)1088504076
Label
Essays in public economics and empirical banking, Andreas Winkler
Link
http://hdl.handle.net/1814/60241
Publication
Note
Examining board: Professor Árpád Ábrahám, EUI, Supervisor; Professor Dominik Sachs, University of Munich; Professor Andrés Erosa, Universidad Carlos III de Madrid; Professor Marek Kapička, CERGE-EI
Bibliography note
Includes bibliographical references (pages 125 - 130)
Carrier category
volume
Carrier category code
nc
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Dimensions
30 cm.
Extent
130 pages
Media category
unmediated
Media MARC source
rdamedia
Media type code
n
Other physical details
illustrations
System control number
(OCoLC)1088504076

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