BEGIN:VCALENDAR
VERSION:2.0
METHOD:PUBLISH
BEGIN:VTIMEZONE
TZID:Europe/London
BEGIN:STANDARD
TZNAME:GMT
TZOFFSETFROM:+0100
TZOFFSETTO:+0000
DTSTART:19701025T020000
RRULE:FREQ=YEARLY;BYMONTH=10;BYDAY=-1SU
END:STANDARD
BEGIN:DAYLIGHT
TZNAME:BST
TZOFFSETFROM:+0000
TZOFFSETTO:+0100
DTSTART:19700329T010000
RRULE:FREQ=YEARLY;BYMONTH=3;BYDAY=-1SU
END:DAYLIGHT
END:VTIMEZONE
BEGIN:VEVENT
UID:6a0faddaeb284
DTSTAMP:20260522T011402Z
DTSTART;TZID=Europe/London:20220125T111500
DTEND;TZID=Europe/London:20220125T123000
TZID:Europe/London
SUMMARY:School of Economics and Finance Seminar
DESCRIPTION:Speaker: Dr Paolo Piacquadio, University of Oslo    Abstract: This paper enriches the toolbox of welfare criteria for the study of optimal redistributive policies. First, we revisit the equal sacrifice principle of taxation. Equality of sacrifice requires each tax-payer to contribute to the government budget by making the same sacrifice. However, labor-supply responses determine a conflict with Pareto efficiency. Addressing this issue, we axiomatically characterize Paretian welfare criteria that trade off equality of sacrifice with efficiency, named equal-sacrifice social welfare functions. Second, we generalize our results by characterizing a family of social welfare functions that bridges the gap between equal-sacrifice fairness and generalized utilitarianism. Third, we show our results extend to heterogeneous preferences and can be applied to various policy questions. We also illustrate our welfare criteria by simulating the optimal non-linear income tax for the US economy. Our equal-sacrifice social welfare function is less redistributive than traditional criteria, but---for progressive views of sacrifice---more redistributive than the US tax system. https://events.st-andrews.ac.uk/events/school-of-economics-and-finance-seminar-4/
LOCATION:Online
URL:https://events.st-andrews.ac.uk/events/school-of-economics-and-finance-seminar-4/
End:VEVENT
End:VCALENDAR