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  1. Cyclicality of schooling
    new evidence from unobserved components models
    Autor*in: Sadaba, Barbara; Vujić, Sunčica; Maier, Sofia
    Erschienen: [2020]
    Verlag:  Bank of Canada, [Ottawa]

    In this paper, we present new evidence from unobserved components time-series models on the cyclical behavior of the demand for education relative to economic cycles. We investigate the cyclical properties of schooling decisions, the time-varying... mehr

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    DS 219
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    In this paper, we present new evidence from unobserved components time-series models on the cyclical behavior of the demand for education relative to economic cycles. We investigate the cyclical properties of schooling decisions, the time-varying exposure of these decisions to changes in the state of the macro economy, and the relative importance of shocks that drive economic fluctuations on the demand for schooling. To this end, we perform a trend-cycle decomposition of enrollment ratios for the United Kingdom over the period 1995Q1 to 2019Q4. We first establish the presence of a persistent cyclical process in the demand for schooling independent of a slow-moving trend. We then show that the direction of the effect of the economic cycle on schooling decisions (i.e., pro-cyclical, counter-cyclical, a-cyclical) is largely time-dependent, together with the degree of synchronization. Importantly, we find that changes in the demand for schooling are largely explained by economic cycles. We note, however, that the effects are different for different subsamples based on demographic characteristics..

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/241204
    Auflage/Ausgabe: Last updated: September 18, 2020
    Schriftenreihe: Staff working paper / Bank of Canada ; 2020, 38
    Umfang: 1 Online-Ressource (circa 31 Seiten), Illustrationen
  2. Inflation, fiscal policy and inequality
    the distributional impact of fiscal measures to compensate for consumer inflation
    Autor*in: 3000 Amores, Antonio F.; Basso, Henrique S.; Bischl, Simeon; De Agostini, Paola; De Poli, Silvia; Dicarlo, Emanuele; Flevotomou, Maria; Freier, Maximilian; Maier, Sofia; García-Miralles, Esteban; Pidkuyko, Myroslav; Ricci, Mattia; Riscado, Sara
    Erschienen: [2023]
    Verlag:  European Central Bank, Frankfurt am Main, Germany

    This paper analyses the distributional impact of high consumer inflation in the euro area and government measures to compensate households in 2022. The study uses the tax-benefit microsimulation model for the European Union (EUROMOD) with microdata... mehr

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    This paper analyses the distributional impact of high consumer inflation in the euro area and government measures to compensate households in 2022. The study uses the tax-benefit microsimulation model for the European Union (EUROMOD) with microdata as the input - EU statistics on income and living conditions (EU-SILC) and household budget surveys (HBS) - to quantify the distributional impact of inflation, income support measures and measures aimed at containing prices. The analysis confirms that purchasing power and welfare were more severely affected by the 2022 inflation surge in lower-income households than in higher-income households. Fiscal measures compensated households for about a third of their welfare loss, though with significant differences between countries. At the same time, fiscal measures closed around 60% of the inequality gap between lower and higherincome households. Most fiscal measures were not particularly well targeted at lowincome households, resulting in a higher than necessary fiscal burden to cushion the distributional impact of the inflationary shock.

     
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    Quelle: Staatsbibliothek zu Berlin
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789289962292
    Weitere Identifier:
    hdl: 10419/283408
    Schriftenreihe: Occasional paper series / European Central Bank ; No 330
    Schlagworte: inflation; fiscal policy; distributional effect; welfare effect; EUROMOD
    Umfang: 1 Online-Ressource (42 Seiten), Diagramme
  3. The redistributive impact of consumption taxation in the EU
    lessons from the post-financial crisis decade
    Autor*in: Maier, Sofia; Ricci, Mattia
    Erschienen: 2022
    Verlag:  European Commission, Seville

    During the 2010-2019 decade, consumption taxes have risen in the vast majority of the EU Member States as a result of austerity measures, tax shifts as well as taxing transport and housing-related energy consumption. The redistributive impact of... mehr

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    During the 2010-2019 decade, consumption taxes have risen in the vast majority of the EU Member States as a result of austerity measures, tax shifts as well as taxing transport and housing-related energy consumption. The redistributive impact of these policy changes remains mostly unexplored. In this paper, we provide new empirical evidence on the redistributive effect of changes in VAT and excises over this period, along with other developments in the broader tax-benefit system including tax shift reforms. Our results indicate that the consumption tax systems in the EU have become more unequalizing in most countries as a result of an increase in the tax burden and of its regressivity. While the taxation of transport is the component that has increased the most, the highest inequality impact was driven by the taxation of housing-related energy consumption. Only in a few countries these policy changes were accompanied by an increase in social transfers sufficient to compensate the poorest households.

     
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    Medientyp: Buch (Monographie)
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    Weitere Identifier:
    hdl: 10419/280870
    Schriftenreihe: JRC working papers on taxation and strucutral reforms ; no 2022, 10
    JRC technical report
    Schlagworte: Consumption taxation; Tax shift; Austerity; Inequality; Microsimulation
    Umfang: 1 Online-Ressource (circa 44 Seiten), Illustrationen
  4. Enforcing "Equal Pay for Equal Work" in the EU
    what would it take?
    Autor*in: De Poli, Silvia; Maier, Sofia
    Erschienen: 2022
    Verlag:  European Commission, Seville

    The European Parliament has recently approved new binding pay transparency measures to promote ''Equal Pay for Equal Work'', an EU founding principle which is at the heart of the European Pillar of Social Rights Action Plan towards 2030. Using... mehr

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    The European Parliament has recently approved new binding pay transparency measures to promote ''Equal Pay for Equal Work'', an EU founding principle which is at the heart of the European Pillar of Social Rights Action Plan towards 2030. Using harmonized microdata for the EU 27 countries and a novel estimation approach -based on blocking with regression adjustments- we provide new comparable estimates of the gap in gross hourly wages between women and men performing similar work. This gap ranges from about 6% in Germany to 18% in Estonia. We also shed new light on the (heterogeneous) distributional consequences of a hypothetical enforcement of equal pay for equal work, simulating an upward shift in women's gross hourly wage. The strongest impact on the distribution of labour earnings would take place in countries with high gender pay gaps for equal work and small gender gaps in employment and hours worked (mainly Central and Eastern European countries), whereas only marginal effects are identified in countries with large gaps in hours worked and gender segregation in the type of work done (Western European countries), and also in countries with large employment gaps (Southern European countries). We also identify income poverty-reducing and inequality-increasing effects. The latter is driven by a composition effect (under-representation of employed women in low-income households), which is only partly offset by the tax-benefit system.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
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    Weitere Identifier:
    hdl: 10419/280871
    Schriftenreihe: JRC working papers on taxation and strucutral reforms ; no 2022, 11
    JRC technical report
    Schlagworte: gender pay gap; pay transparency; regression-after-blocking; inequality; European Union
    Umfang: 1 Online-Ressource (circa 50 Seiten), Illustrationen
  5. EUROMOD baseline report
    Autor*in: De Poli, Silvia; Gil-Bermejo Lazo, Celia; Leventi, Chrysa; Maier, Sofia; Papini, Andrea; Ricci, Mattia; Serruys, Hannes; Almeida, Vanda; Christl, Michael; Cruces, Hugo; De Agostini, Paola; Grünberger, Klaus; Hernández, Adrian; Jȩdrych Villa, Marta; Manios, Kostas; Mazzon, Alberto; Navarro Berdeal, Silvia; Palma Fernandez, Bianey; Picos, Fidel; Tumino, Alberto; Vázquez Torres, Estefanía
    Erschienen: 2023
    Verlag:  European Commission, Seville

    This report provides a selection of baseline results and headline indicators from the latest public version (I5.0+) of EUROMOD, the tax-benefit microsimulation model for the EU. We begin by presenting indicators for income inequality and... mehr

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 626
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    This report provides a selection of baseline results and headline indicators from the latest public version (I5.0+) of EUROMOD, the tax-benefit microsimulation model for the EU. We begin by presenting indicators for income inequality and at-risk-of-poverty. We then provide a comparative decomposition of the redistributive effect of the tax-benefit systems across the EU. We study how different Member States achieve various degrees of redistribution through different combinations of progressivity and size of their tax-benefit systems. We then analyse various work incentive indicators both at the intensive and the extensive margin, discussing how effective marginal rates of taxation and replacement rates vary across countries. The report also describes the way EUROMOD can be used to simulate economic shocks leading to labour market transition through the LMA (Labour Market Adjustment) add-on. We illustrate this by simulating the impact of the COVID-19 pandemic and the cushioning effect of policy measures taken by EU Member States. Finally, we present the evolution of the income distribution over the post-financial crisis decade and we compare living standards across EU countries at the top and the bottom of the income distribution.

     
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    Sprache: Englisch
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    hdl: 10419/280874
    Schriftenreihe: JRC working papers on taxation and strucutral reforms ; no 2023, 5
    Schlagworte: Mikrosimulation; Steuer; Öffentliche Sozialleistungen; Armut; Soziale Ungleichheit; EU-Staaten
    Umfang: 1 Online-Ressource (circa 49 Seiten), Illustrationen
  6. Characterizing the schooling cycle
    Autor*in: Sadaba, Barbara; Vujić, Sunčica; Maier, Sofia
    Erschienen: April 2022
    Verlag:  IZA - Institute of Labor Economics, Bonn, Germany

    This paper develops a novel and tractable empirical approach to estimate the cycle in schooling participation decisions, which we denominate the schooling cycle. The estimation procedure is based on unobserved components time series models that... mehr

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    This paper develops a novel and tractable empirical approach to estimate the cycle in schooling participation decisions, which we denominate the schooling cycle. The estimation procedure is based on unobserved components time series models that decompose higher education enrollment rates into a slow-moving stochastic trend and a stationary cyclical factor. By doing so, we obtain a full characterization of the cyclical dynamics of schooling participation and analyze its relationship with the business cycle in a time-varying fashion. Using data for 16–24-year-olds attending full-time post-secondary education in the United Kingdom from 1995Q1 to 2019Q4, we find evidence of a very persistent schooling cycle largely, but not exclusively, explained by the business cycle. Additionally, we find that the direction of the response of schooling participation to the business cycle, say, pro-, counter- or a-cyclical, is largely time-dependent, as is the degree of synchrony between both cycles. We note, however, that results are heterogeneous across gender.

     
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    Sprache: Englisch
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    hdl: 10419/263453
    Schriftenreihe: Discussion paper series / IZA ; no. 15237
    Schlagworte: human capital; business cycle; state space; kalman smoother
    Umfang: 1 Online-Ressource (circa 35 Seiten), Illustrationen
  7. Limiting prices or transferring money?
    an ex-ante assessment of alternative measures to cope with the hike in energy prices
    Autor*in: Amores, Antonio F.; Christl, Michael; De Agostini, Paola; De Poli, Silvia; Maier, Sofia
    Erschienen: 2023
    Verlag:  European Commission, Seville

    The hike in energy prices across Europe in 2022 and 2023 led to significant government interventions. Several governments introduced 'energy price cap' measures to alleviate the increased burden on households' expenditures. This paper presents an ex... mehr

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    The hike in energy prices across Europe in 2022 and 2023 led to significant government interventions. Several governments introduced 'energy price cap' measures to alleviate the increased burden on households' expenditures. This paper presents an ex ante assessment of the expected distributional impact of the inflation surge and the cushioning effect of these price cap policies introduced in 2023 in Germany, the Netherlands and Austria. Our analysis combines macroforecasting techniques with microsimulation methods and shows that the inflationary shock of 2023 will more severely affect those households at the bottom of the income distribution. Our results also highlight that the price cap measures will only partly absorb the negative distributional consequences of the inflationary shock while it would completely offset the increase in energy poverty. Additionally, we show that simpler measures, such as lump-sum cash transfers, are more efficient (considering government's budgetary costs) in cushioning the inequality-increasing effects of inflation, especially when such measures are targeted. Price caps, on the other hand, are more efficient in reducing energy poverty, given the non-negligible incidence of energy poverty in middle-income groups.

     
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    hdl: 10419/299563
    Schriftenreihe: JRC working papers on taxation and strucutral reforms ; no 2023, 11
    Schlagworte: Energy; price cap; microsimulation; inequality; Europe
    Umfang: 1 Online-Ressource (circa 37 Seiten), Illustrationen
  8. Inflation, fiscal policy and inequality
    Autor*in: Amore, Antonio F.; Basso, Henrique S.; Bischl, Johannes Simeon; De Agostini, Paola; De Poli, Silvia; Dicarlo, Emanuele; Flevotomou, Maria; Freier, Maximilian; Maier, Sofia; García-Miralles, Esteban; Pidkuyko, Myroslav; Ricci, Mattia; Riscado, Sara
    Erschienen: 2023
    Verlag:  European Commission, Seville

    This paper analyses the distributional impact of high consumer inflation in the euro area and government measures to compensate households in 2022. The study uses the tax-benefit microsimulation model for the European Union (EUROMOD) with microdata... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 626
    Fernleihe:
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    This paper analyses the distributional impact of high consumer inflation in the euro area and government measures to compensate households in 2022. The study uses the tax-benefit microsimulation model for the European Union (EUROMOD) with microdata as the input - EU statistics on income and living conditions (EU-SILC) and household budget surveys (HBS) - to quantify the distributional impact of inflation, income support measures and measures aimed at containing prices. The analysis confirms that purchasing power and welfare were more severely affected by the 2022 inflation surge in lower-income households than in higher-income households. Fiscal measures compensated households for about a third of their welfare loss, though with significant differences between countries. At the same time, fiscal measures closed around 60% of the inequality gap between lower and higher-income households. Most fiscal measures were not particularly well targeted at low-income households, resulting in a higher than necessary fiscal burden to cushion the distributional impact of the inflationary shock.

     
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    Sprache: Englisch
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    Weitere Identifier:
    hdl: 10419/299562
    Schriftenreihe: JRC working papers on taxation and strucutral reforms ; no 2023, 10
    Umfang: 1 Online-Ressource (circa 40 Seiten), Illustrationen
  9. Inflation, fiscal policy and inequality
    the distributional impact of fiscal measures to compensate for consumer inflation
    Autor*in: 3000 Amores, Antonio F.; Basso, Henrique S.; Bischl, Simeon; De Agostini, Paola; De Poli, Silvia; Dicarlo, Emanuele; Flevotomou, Maria; Freier, Maximilian; Maier, Sofia; García-Miralles, Esteban; Pidkuyko, Myroslav; Ricci, Mattia; Riscado, Sara
    Erschienen: [2023]
    Verlag:  European Central Bank, Frankfurt am Main, Germany

    This paper analyses the distributional impact of high consumer inflation in the euro area and government measures to compensate households in 2022. The study uses the tax-benefit microsimulation model for the European Union (EUROMOD) with microdata... mehr

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    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Potsdamer Straße
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 535
    Fernleihe:
    keine Fernleihe

     

    This paper analyses the distributional impact of high consumer inflation in the euro area and government measures to compensate households in 2022. The study uses the tax-benefit microsimulation model for the European Union (EUROMOD) with microdata as the input - EU statistics on income and living conditions (EU-SILC) and household budget surveys (HBS) - to quantify the distributional impact of inflation, income support measures and measures aimed at containing prices. The analysis confirms that purchasing power and welfare were more severely affected by the 2022 inflation surge in lower-income households than in higher-income households. Fiscal measures compensated households for about a third of their welfare loss, though with significant differences between countries. At the same time, fiscal measures closed around 60% of the inequality gap between lower and higherincome households. Most fiscal measures were not particularly well targeted at lowincome households, resulting in a higher than necessary fiscal burden to cushion the distributional impact of the inflationary shock.

     
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    Quelle: Staatsbibliothek zu Berlin
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789289962292
    Weitere Identifier:
    hdl: 10419/283408
    Schriftenreihe: Occasional paper series / European Central Bank ; No 330
    Schlagworte: inflation; fiscal policy; distributional effect; welfare effect; EUROMOD
    Umfang: 1 Online-Ressource (42 Seiten), Diagramme