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This chapter reviews the theoretical and empirical issues dealing with Social Security pensions. The first part of the …
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simply a matter of the elderly out-voting the young, because: (c) benefit formulas induce retirement, especially in the …
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. "Efficiency theories," which model SS as a full or partial solution to market failure, include optimal redistribution, retirement … insurance, and alleviating labor market congestion. Finally we analyze three "narrative" theories.Overall, retirement, and not …
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