Thesis (M.S.)--University of Wisconsin--Madison, 1972. / eContent provider-neutral record in process. Description based on print version record. Includes bibliographical references.

Thesis--Wisconsin. / Vita. Includes bibliographical references (leaves 142-144).

Thesis (Ph. D.)--The University of Wisconsin--Madison, 1972. / Typescript. Vita. eContent provider-neutral record in process. Description based on print version record. Includes bibliography.

I study the role of heterogeneity and idiosyncratic risk in Macroeconomics, and their implications on problems of income taxation. In the first chapter, I study the effects of redistributive taxation in an incomplete market economy with heterogeneous agents and idiosyncratic risk. I focus on the role of distortions in labor supply decisions and the interplay of heterogeneity and uninsurable idiosyncratic shocks, conducting the first general equilibrium analysis of a Negative Income Tax (NIT). I show that a NIT is a serious candidate to replace the current income tax in the United States. I find that the optimal NIT has a marginal tax rate of 28% and a transfer of 10% of per capita GDP, roughly $4600. The welfare gains of replacing the current US income tax with a NIT are equivalent to a 6.3% increase in annual consumption in every state of the world. Low-ability agents, in the bottom quintile of the productivity distribution, benefit the most, while high-ability agents are worse off. A consequence of the reform is that the composition of the labor force changes, with high-productivity agents working more, in relative terms, than low-productivity agents. Finally, I find that the riskier the economy, the higher the welfare gains of the NIT as a provider of public insurance. In the second chapter, I study labor income dynamics over the life cycle and introduce a novel methodology that can detect the presence of patterns in the idiosyncratic earnings shocks and recognize economic forces in action. Using a sample from the Panel Study of Income Dynamics (PSID), I estimate a Bayesian Logistic Smoothed Transition Autoregressive model of order 1 (LSTAR(1)) with a rich level of heterogeneity in the innovations. I find that there is a life-cycle pattern in the earning shocks: before the age 29, young workers experience shocks with higher variance and a positive probability of lower persistence than older workers. A comparison with conventional models shows that an incorrect model specification introduces bias in the estimates. The proposed model can be easily approximated with a discrete Markov process. This means that this model can be used by macroeconomists to calibrate income processes.

We are comparing the economic models of state social support which utilize the concept of the negative income tax. The comparison builds upon the overview of the main theoretical articles. We have analysed the proposals of various political parties regarding the negative income tax; in case of a Czech party's proposal of replacing a set of subsidies with the negative income tax, we have calculated the overall expected savings. For the purpose of the overall comparison, we selected the models of Friedman, Tobin, Sulik and the Earned Income tax Credit model. We benchmarked them in various theoretical and practical criteria. We conclude that they do not differ substantially except for their philosophical interpretation.

The Basic Income concept in the perspective of Agent-Based modelling Abstract: The thesis study the relationship between the basic income introduction and the price level. The basic income would replace the existing social security. The resulting redistribution induce changes in the aggregate demand through the concave consumption function. The aggregate demand in turn affect the price creation mechanism. Because the price level is a result of activity of many different agents with private motivation and information, the work used a simple macroeconomic agent-based model to isolate the relationship. The simulation however did not succeed in isolating the possible link between the price level and the basic income introduction.

This diploma thesis deals with the concept of (unconditional) basic income as a policy instrument and the conditions, costs and possible consequences of its full or partial implementation in the Czech Republic. The first aim of the diploma thesis is to describe this concept, which is still rather unknow in the Czech Republic, and put it into the context of Public and Social Policy. The diploma thesis decribes its alternative models, which are - in certain extent - interchangeable with it as well as the praxis of the basic income in the world The author tries to identify the main problems within the system of today's social policy and with respect to them put forward the main reason for the implementation of the basic income in the Czech Republic. Finally, some models and ways of implementation are presented as well as the estimation of the costs and possible consequences of their implementation. Powered by TCPDF (www.tcpdf.org)

The aim of this thesis is to record The historical development of political and political science concept of Universal Basic Income, it tries to map from its beginnings to the present. This thesis will handle the Universal Basic Income as that described by Thomas More and by Johannes Ludovicus Vives. Thesis will focus on their later critics from series of economic and philosophical thinkers and political scientists. UBI will build on these theorists modern ideas which will then be compared with previous authors. This thesis will show the development and deepening of ideas of Universal Basic Income through comparison of the concept of individual authors.

The purpose of this review is to summarize the experiments that have been presented regarding guaranteed Basic Income, performed around the world; to see if a BI might fit into ”the Swedish model”; and what further research would be needed to understand the mechanics of BI. A theory has been used, designed to compare the effects of cash transfer programs irrespective of economic level of the countries. The experiments show many similarities, such as improved school attendance and achievements, improved health, enhanced economic equality, a sense of inclusion and security, and also, where this has been studied, less crime. Where BI has been beneath the level of economic sustenance a growth of working hours including self employment has been noted, whereas in countries with an income high enough to sustain oneself a slight diminished work supply has been reported. The effects shown in the review seem to be well aligned with the visions of the Swedish welfare state, although might not be in alignment with the growing use of “work fare” in Sweden. Further research should focus on more long-lasting experiments and also to find a common ground, on which to perform them to be able to compare results.