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Public policies over the life cycle: a large scale OLG model for France, Italy and Sweden

Alessandro Bucciol (), Laura Cavalli (), Igor Fedotenkov, Paolo Pertile (), Veronica Polin (), Nicola Sartor () and Alessandro Sommacal ()

No 29/2015, Working Papers from University of Verona, Department of Economics

Abstract: The paper presents a large scale overlapping generation model with heterogeneous agents, where the family is the decision unit. We calibrate the model for three European countries - France, Italy and Sweden - which show marked differences in the design of some public programs. We examine the properties in terms of annual and lifetime redistribution of a number of tax-benefit programs, by studying the impact of removing from our model economies some or all of them. We find that whether one considers a life-cycle or an annual horizon, and whether behavioral responses are accounted for or not, has a large impact on the results. The model may provide useful insights for policy makers on which kind of reforms are more likely to achieve specific equity objectives.

Keywords: Redistribution; Fiscal policy; Computable OLG models (search for similar items in EconPapers)
JEL-codes: H2 H3 (search for similar items in EconPapers)
Pages: 53
Date: 2015-11
New Economics Papers: this item is included in nep-dge, nep-eec and nep-pbe
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