The risk-properties of human capital and the design of government policies

Detalhes bibliográficos
Autor(a) principal: Costa, Carlos Eugênio da
Data de Publicação: 2004
Outros Autores: Maestri, Lucas Jóver
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/458
Resumo: Whether human capital increases or decreases wage uncertainty is an open question from an empirical standpoint. Yet, most policy prescriptions regarding human capital formation are based on models that impose riskiness on this type of investment. In a two period and finite type optimal income taxation problem we derive prescriptions that are robust to the risk characteristics of human capital: savings should be discouraged, human capital investments encouraged and both types of investment driven to an efficient level from an aggregate perspective. These prescriptions are also robust to the assumptions regarding what choices are observed, despite policy instruments being not.
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spelling Costa, Carlos Eugênio daMaestri, Lucas JóverEscolas::EPGEFGV2008-05-13T15:24:31Z2008-05-13T15:24:31Z2004-07-010104-8910http://hdl.handle.net/10438/458Whether human capital increases or decreases wage uncertainty is an open question from an empirical standpoint. Yet, most policy prescriptions regarding human capital formation are based on models that impose riskiness on this type of investment. In a two period and finite type optimal income taxation problem we derive prescriptions that are robust to the risk characteristics of human capital: savings should be discouraged, human capital investments encouraged and both types of investment driven to an efficient level from an aggregate perspective. These prescriptions are also robust to the assumptions regarding what choices are observed, despite policy instruments being not.engEscola de Pós-Graduação em Economia da FGVEnsaios Econômicos;554EducationOptimal taxationEndogenous policy instrumentsEconomiaEconomiaCapital humanoEducação e EstadoThe risk-properties of human capital and the design of government policiesinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlereponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVinfo:eu-repo/semantics/openAccessORIGINAL1650.pdfapplication/pdf349951https://repositorio.fgv.br/bitstreams/db8ea856-a799-45cf-9866-e0addecb1f8e/downloadc53a0f91fed982f5bfeac084e201d4f0MD51TEXT1650.pdf.txt1650.pdf.txtExtracted texttext/plain71670https://repositorio.fgv.br/bitstreams/9809e19d-02ba-44f7-88c5-0fef8083d54a/download1a99a02864e0ed1910fbbf80f7b80d96MD56THUMBNAIL1650.pdf.jpg1650.pdf.jpgGenerated Thumbnailimage/jpeg3294https://repositorio.fgv.br/bitstreams/81aee219-6b80-48ff-af53-7aac0325051a/download327c6cab7e0d1374fa337d9e4e7497abMD5710438/4582023-11-09 16:53:55.19open.accessoai:repositorio.fgv.br:10438/458https://repositorio.fgv.brRepositório InstitucionalPRIhttp://bibliotecadigital.fgv.br/dspace-oai/requestopendoar:39742023-11-09T16:53:55Repositório Institucional do FGV (FGV Repositório Digital) - Fundação Getulio Vargas (FGV)false
dc.title.eng.fl_str_mv The risk-properties of human capital and the design of government policies
title The risk-properties of human capital and the design of government policies
spellingShingle The risk-properties of human capital and the design of government policies
Costa, Carlos Eugênio da
Education
Optimal taxation
Endogenous policy instruments
Economia
Economia
Capital humano
Educação e Estado
title_short The risk-properties of human capital and the design of government policies
title_full The risk-properties of human capital and the design of government policies
title_fullStr The risk-properties of human capital and the design of government policies
title_full_unstemmed The risk-properties of human capital and the design of government policies
title_sort The risk-properties of human capital and the design of government policies
author Costa, Carlos Eugênio da
author_facet Costa, Carlos Eugênio da
Maestri, Lucas Jóver
author_role author
author2 Maestri, Lucas Jóver
author2_role author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EPGE
dc.contributor.affiliation.none.fl_str_mv FGV
dc.contributor.author.fl_str_mv Costa, Carlos Eugênio da
Maestri, Lucas Jóver
dc.subject.por.fl_str_mv Education
Optimal taxation
Endogenous policy instruments
topic Education
Optimal taxation
Endogenous policy instruments
Economia
Economia
Capital humano
Educação e Estado
dc.subject.area.por.fl_str_mv Economia
dc.subject.bibliodata.por.fl_str_mv Economia
Capital humano
Educação e Estado
description Whether human capital increases or decreases wage uncertainty is an open question from an empirical standpoint. Yet, most policy prescriptions regarding human capital formation are based on models that impose riskiness on this type of investment. In a two period and finite type optimal income taxation problem we derive prescriptions that are robust to the risk characteristics of human capital: savings should be discouraged, human capital investments encouraged and both types of investment driven to an efficient level from an aggregate perspective. These prescriptions are also robust to the assumptions regarding what choices are observed, despite policy instruments being not.
publishDate 2004
dc.date.issued.fl_str_mv 2004-07-01
dc.date.accessioned.fl_str_mv 2008-05-13T15:24:31Z
dc.date.available.fl_str_mv 2008-05-13T15:24:31Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
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dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/458
dc.identifier.issn.none.fl_str_mv 0104-8910
identifier_str_mv 0104-8910
url http://hdl.handle.net/10438/458
dc.language.iso.fl_str_mv eng
language eng
dc.relation.ispartofseries.por.fl_str_mv Ensaios Econômicos;554
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
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dc.publisher.none.fl_str_mv Escola de Pós-Graduação em Economia da FGV
publisher.none.fl_str_mv Escola de Pós-Graduação em Economia da FGV
dc.source.none.fl_str_mv reponame:Repositório Institucional do FGV (FGV Repositório Digital)
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collection Repositório Institucional do FGV (FGV Repositório Digital)
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