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Licensed Unlicensed Requires Authentication Published by De Gruyter July 5, 2018

Ein Staatsfonds, der eine soziale Dividende finanziert

Giacomo Corneo

Zusammenfassung

Die Regierung eines Landes kann sich zum risikolosen Zins verschulden und in den Weltaktienmarkt investieren. Die Aktienerträge werden abzüglich der Finanzierungskosten an die Bürger des Landes in Form einer sozialen Dividende weitergegeben. Welche Effekte hat diese Politik auf die Wohlfahrt der Bürger? Der vorliegende Beitrag identifiziert in einem einfachen theoretischen Rahmen Bedingungen, unter denen eine solche Politik eine Pareto-Verbesserung hervorruft und argumentiert für deren Einführung in Deutschland.

JEL-Klassifikation: H1

Danksagung

Wertvolle Kommentare zu einer früheren Version habe ich von Hans-Peter Grüner, Astrid Harnack, Johannes König, zwei anonymen Gutachtern und dem Herausgeber Lutz Arnold erhalten. Ich widme diesen Beitrag dem Andenken an Tony Atkinson, der für die Idee des Staatsfonds als verteilungspolitisches Instrument mit großer Überzeugungskraft warb.

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Online erschienen: 2018-07-05
Erschienen im Druck: 2018-07-04

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