| dc.creator |
Devarajan, Shantayanan |
|
| dc.creator |
Jack, William |
|
| dc.date |
2012-03-30T07:12:35Z |
|
| dc.date |
2012-03-30T07:12:35Z |
|
| dc.date |
2007-01-30 |
|
| dc.date.accessioned |
2023-02-18T19:40:40Z |
|
| dc.date.available |
2023-02-18T19:40:40Z |
|
| dc.identifier |
World Bank Economic Review |
|
| dc.identifier |
1564-698X |
|
| dc.identifier |
http://hdl.handle.net/10986/4447 |
|
| dc.identifier.uri |
http://localhost:8080/xmlui/handle/CUHPOERS/249932 |
|
| dc.description |
In a risky world should governments provide public goods that reduce risk or compensate the victims of bad outcomes through social insurance? This article examines a basic question in designing social protection policies: how should a government allocate a fixed budget between these two activities? In the presence of income and risk heterogeneities a simple public insurance scheme that pays a fixed benefit to all households that suffer a negative shock is an effective redistributional instrument of public policy. This is true even when a well functioning private insurance market exists, and so the role of public insurance is not to correct a market failure. In fact, the existence of a private insurance market means that the public system has desirable targeting properties—all but the poor and high-risk take up private insurance. The provision of public goods that reduce risk for all should therefore be complemented with public insurance that (automatically) benefits those who are especially vulnerable. |
|
| dc.publisher |
World Bank |
|
| dc.rights |
CC BY-NC-ND 3.0 IGO |
|
| dc.rights |
http://creativecommons.org/licenses/by-nc-nd/3.0/igo |
|
| dc.rights |
World Bank |
|
| dc.subject |
crowding |
|
| dc.subject |
ECONOMIC REVIEW |
|
| dc.subject |
expenditures |
|
| dc.subject |
insurance market |
|
| dc.subject |
low income |
|
| dc.subject |
medical care |
|
| dc.subject |
private insurance |
|
| dc.subject |
Public Insurance |
|
| dc.subject |
public insurance scheme |
|
| dc.subject |
social insurance |
|
| dc.title |
Protecting the Vulnerable |
|
| dc.type |
Journal Article |
|
| dc.type |
Journal Article |
|
| dc.coverage |
South Asia |
|
| dc.coverage |
East Asia and Pacific |
|
| dc.coverage |
Latin America & Caribbean |
|
| dc.coverage |
Indonesia |
|
| dc.coverage |
Dominica |
|