Peterman, William B.; Sommer, Kamila - In: Quantitative economics : QE ; journal of the … 10 (2019) 4, pp. 1357-1399
A well‐established result in the literature is that Social Security reduces steady state welfare in a standard life … Social Security, this paper quantifies the welfare effects of the program's enactment on the cohorts of agents who … experienced it. In contrast to the standard steady state results, we find that the adoption of the original Social Security …