1,721,335 research outputs found
Income Taxes and the Composition of Pay: Evidence from the British Household Panel Survey
No full textAccording to the standard principal-agent model, the optimal composition of pay should balance the provision of incentives with the individual demand for insurance. Do income taxes alter this balance? We show that the relative share of Performance-related pay (PRP), on total pay is reduced by higher average and marginal income taxes. Empirical evidence based on the British Household Panel Survey is consistent with the theoretical predictions of the tax-augmented principal-agent model. Our estimates suggest that a 10% reduction in the marginal income tax rate, holding the average tax rate constant, increases the share of PRP in total pay by 2.25-3.02%, depending on the empirical specification. Similarly, a 10% reduction in the average income tax rate, holding the marginal tax rate constant, increases the share of PRP in total pay by 5.10-5.27%. © 2011 The Authors. Scottish Journal of Political Economy © 2011 Scottish Economic Society
Pension reforms, longer working horizons, and absence from work
No full textUsing matched employer-employee data for Italy and newly available information on sick leave certificates, we study the effect of an exogenous increase in the length of the residual work horizon—triggered by a pension reform that increased minimum retirement age—on middle-aged employees’ absence from work due to sick leaves. We find that this effect is positive for females and negative for males. We explain these results by arguing that the intertemporal substitution of leisure prevailed over the fear of job loss for females, while the opposite happened to males. Sick leaves increased only for females working in firms that pay smaller wage premia to female workers than to males, suggesting that, in these firms, females exchange lower pay for higher flexibility in their work schedule
I fabbisogni standard dei comuni e delle province: un nuovo patrimonio informativo per stimolare maggiore efficienza e responsabilità nei governi locali
No full textThis paper provides an overview of the recent Italian experience in the evaluation of the standard expenditure needs of municipalities (6702 elected local authorities of regions with ordinary statutes). The first part of the paper is focused on the analysis of the main technical choices regarding the methodologies employed in the evaluation of standard expenditure needs. The second part is focused on the description of the main activities implemented with the goal of making the information gathered to evaluate standard expenditure needs a valuable source of information for monitoring and improving the performance of local authorities.Questo paper fornisce una panoramica della recente esperienza italiana di valutazione dei fabbisogni standard cmunali (6702 enti delle regioni a statuto ordinario). La prima parte del lavoro è focalizzata sull'analisi delle principali scelte tecniche relative alle metodologie impiegate nella stima. La seconda parte è focalizzata sugli elementi innovativti introdotti nei modelli con l'obiettivo di rendere l'informazione raccolta per la valutazione dei fabbisogni standard uno strumento volto a monitorare e stimolare maggiore efficienza nell'erogazione dei servizi locali
- …
