In a model with endogenous female labour supply and wages, we show that liquidity
constraints that prevent households from buying child care generate an inefficiency and …

Income contingent loans (ICL) are generally collected through the income taxation system
and are repaid only when future incomes exceed a specified level. ICL were first introduced …

In what contexts is it desirable that the government, rather than the private sector, takes on
the role of an insurer and helps people reduce risks? Our discussion implies that while in a …

There is a quiet, yet radical, revolution going on internationally with respect to higher
education financing policy that arguably had its beginnings in Australia in 1989. In that year …

This chapter presents a simple model of income contingent loans. It is shown that, under
plausible conditions, income contingent loans are superior to (i) market loans under …

The administrative costs of government-provided contingent loans are likely to be
substantially lower than the costs of providing traditional financial products via the private …

The role of income contingent loans (ICLs) as a risk-management device is being
increasingly emphasized. Many countries have adopted ICLs to finance higher education …

It is argued in this chapter that income contingent loans (ICL) may provide an efficient and
equitable option for extending taxpayer funded paid parental leave (PPL) schemes, which …

It is possible to develop an alternative housing finance instrument that matches the cash
flow, and reduces the risks faced, by homeowners and pension funds. The instrument would …

Income contingent student loans (ICL) for higher education are based on the idea that
graduates should repay tuition loans as a percentage of their income, and were first …