The Resource Essays on public and private insurance of income shocks, Kjersti Næss Torstensen

Essays on public and private insurance of income shocks, Kjersti Næss Torstensen

Label
Essays on public and private insurance of income shocks
Title
Essays on public and private insurance of income shocks
Statement of responsibility
Kjersti Næss Torstensen
Creator
Contributor
Subject
Language
eng
Summary
This thesis explores issues related to public and private insurance of income shocks, and the importance of human capital accumulation. The first chapter argues that the intertemporal elasticity of substitution of labor supply is a state-dependent variable which strongly depends on the return to human capital accumulation. Estimating a life cycle model I find that the average i.e.s. is low (0.35), and comparable with micro estimates, even in the presence of human capital. However, the average i.e.s. hides important heterogeneity: for college graduates the i.e.s. more than doubles over the life cycle, whereas it increases by about 58 percent for workers without a college degree. The second chapter argues that heterogeneous returns to human capital accumulation affects the degree to which search effort of unemployed deviates from the socially optimal level, and the reason behind the deviation. I find that (i) the main social costs associated with unemployment insurance are not due to moral hazard problems, but are due to distortionary effects of labor income taxes needed to finance the insurance. (ii) The magnitude of the moral hazard problem and the tax distortion problem differs substantially by age and education. And, (iii) the degree of tax progressiveness and benefit regressiveness has important effects on the deviation of search effort. The third chapter studies the relation between co-movement of income shocks and precautionary asset holdings. If households perceive spousal labor supply as an insurance mechanism, it is evident that this mechanism should work better the lower the co-movement of income shocks. We find that (i) households in which both spouses have the same education level or work in the same industry have a higher correlation of income shocks compared to couples with different education/industry. And, (ii) households who face larger co-movements of income shocks hold larger precautionary buffers
Member of
Cataloging source
IT-FiEUI
http://library.link/vocab/creatorName
Torstensen, Kjersti Næss
Date time place
Defence date: 16 June 2014
Dissertation note
Thesis (Ph. D.)--European University Institute (ECO), 2014.
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
  • Human capital
  • Households
Label
Essays on public and private insurance of income shocks, Kjersti Næss Torstensen
Link
http://hdl.handle.net/1814/32107
Instantiates
Publication
Note
Examining Board: Professor Árpád Ábrahám, European University Institute (Supervisor); Professor Jérôme Adda, European University Institute; Professor Claudio Michelacci, CEMFI Madrid; Professor Gianluca Violante, New York University
Bibliography note
Includes bibliographical references (pages 93-95)
Carrier category
volume
Carrier category code
nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Control code
FIEb17557410
Dimensions
30 cm.
Extent
vii, 95
Media category
unmediated
Media MARC source
rdamedia.
Media type code
n
System control number
(OCoLC)914478025
Label
Essays on public and private insurance of income shocks, Kjersti Næss Torstensen
Link
http://hdl.handle.net/1814/32107
Publication
Note
Examining Board: Professor Árpád Ábrahám, European University Institute (Supervisor); Professor Jérôme Adda, European University Institute; Professor Claudio Michelacci, CEMFI Madrid; Professor Gianluca Violante, New York University
Bibliography note
Includes bibliographical references (pages 93-95)
Carrier category
volume
Carrier category code
nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Control code
FIEb17557410
Dimensions
30 cm.
Extent
vii, 95
Media category
unmediated
Media MARC source
rdamedia.
Media type code
n
System control number
(OCoLC)914478025

Library Locations

    • Badia FiesolanaBorrow it
      Via dei Roccettini 9, San Domenico di Fiesole, 50014, IT
      43.803074 11.283055
Processing Feedback ...