TY  - JOUR
AU  - Abel,Andrew B.
TI  - The Implications of Insurance for the Efficacy of Fiscal Policy
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 2517
PY  - 1988
Y2  - February 1988
UR  - http://www.nber.org/papers/w2517
L1  - http://www.nber.org/papers/w2517.pdf
N1  - Author contact info:
Andrew B. Abel
Wharton School
University of Pennsylvania
2315 Steinberg Hall - Dietrich Hall
Philadelphia, PA  19104-6367
Tel: 215/898-4801
Fax: 215/573-7244
E-Mail: abel@wharton.upenn.edu
AB  - Various tax policies provide consumers with forms of insurance. Social security has the payoff characteristics of an annuity. The income tax provides consumers with a degree of Income insurance because the government shares part of the individual's income risk. Redistributive taxes can be used to spread aggregate income risks across different generations The effects of these and other tax policies are shown to depend crucially on the nature of existing private insurance arrangements.
ER  -