English Version



讲座题目:Regressive Subsidy to EHI and Entrepreneurial Talent Allocation




时间:2017年5月16 (周二) 9:00-11:00






其在国际学术期刊 International Economic Review, Quantitative Economics, Review of Economic Dynamics, Economic Theory, Mathematical Methods in Operational Research 等期刊发表论文8篇。应邀在国际知名大学、学术会议宣读论文3次。应邀为国际权威经济学期刊审理学术文章20余次。



    Americans who obtain health insurance coverage through employment do not currently pay income or payroll taxes on this benefit. Tax-deductible employer-based health insurance (EHI) is regressive, and we show that this tax policy can help correct misallocation between self-employment and firm employment. Agents face idiosyncratic health risk and have heterogeneous ability as workers or entrepreneurs, and choose their occupation. Linking employment and health insurance creates a wedge between the marginal cost and benefit of EHI and employment at a firm. In equilibrium, some highly skilled individuals with adverse health shocks leave entrepreneurship while individuals with intermediate skills but favorable health shocks opt to manage firms. In the presence of imperfect information on private agent's health risk and managerial ability, and in the absence of perfectly discriminating taxes, a regressive tax subsidy for entrepreneurs to purchase health insurance helps correct distortions associated with non-contractible heterogeneity in managerial talent and health shocks. The subsidy makes entrepreneurship a more (less) attractive option for the highly (medium) skilled unhealthy (healthy) agents as such a policy increases (reduces) net-tax entrepreneurial income. Consequently, this tax policy provides an additional incentive (disincentive) for the first (second) type to be an entrepreneur, hence improving talent allocation. For a dynamic equilibrium model calibrated to the US economy, we find that the welfare gain from improved talent allocation outweighs the loss due to reduced risk sharing associated with the regressive subsidy.


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