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The welfare effects of asset mean-testing income support

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dc.affiliation.dptoUC3M. Departamento de Economíaes
dc.contributor.authorWellschmied, Félix
dc.contributor.funderMinisterio de Economía y Competitividad (España)es
dc.contributor.funderComunidad de Madrides
dc.date.accessioned2021-09-07T09:32:27Z
dc.date.available2021-09-07T09:32:27Z
dc.date.issued2021-01-01
dc.description.abstractThis paper studies the savings and employment effects of the asset means‐test in US income support programs using a structural life‐cycle model with productivity, disability, and unemployment risk. An asset means‐test incentivizes low‐income households to hold few financial assets making them vulnerable to predictable and unpredictable income changes. Moreover, it incentivizes relatively productive households that happen to have few financial assets to leave the labor force. However, it allows for relative generous transfers to households in most need. Moreover, it counteracts relatively productive households leaving the labor force after the age of 50. In terms of the welfare of an unborn household, the asset means‐test that optimally trades off these effects is $150,000, and abolishing it is close to optimal.en
dc.identifier.bibliographicCitationWellschmied, F. (2021). The welfare effects of asset mean‐testing income support. En Quantitative Economics (Vol. 12, Issue 1, pp. 217-249)
dc.identifier.doihttps://doi.org/10.3982/QE1241
dc.identifier.issn1759-7323
dc.identifier.publicationfirstpage217
dc.identifier.publicationissue1
dc.identifier.publicationlastpage249
dc.identifier.publicationtitleQuantitative Economicsen
dc.identifier.publicationvolume12
dc.identifier.urihttps://hdl.handle.net/10016/33239
dc.identifier.uxxiAR/0000028063
dc.language.isoeng
dc.relation.projectIDGobierno de España. ECO2014-56384-Pes
dc.relation.projectIDGobierno de España. MDM 2014-0431es
dc.relation.projectIDComunidad de Madrid. S2015/HUM-3444es
dc.rightsAtribución-NoComercial 3.0 España*
dc.rights.accessRightsopen accessen
dc.rights.urihttp://creativecommons.org/licenses/by-nc/3.0/es/*
dc.subject.ecienciaEconomíaes
dc.subject.otherMeans-tested programsen
dc.subject.otherPublic insuranceen
dc.subject.otherIncomplete marketsen
dc.titleThe welfare effects of asset mean-testing income supporten
dc.typeresearch article*
dc.type.hasVersionVoR*
dspace.entity.typePublication
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