We investigate welfare and aggregate implications of a pay-as-you-go (PAYG) social security system in a dynastic … but magnifies the self-control costs. We find that in our environment the adverse welfare effects of a PAYG system are …

This Paper explores the implications of the recent sharp rise in US wage inequality for welfare and the cross … markets can account for these trends in cross-sectional US data. We also investigate the welfare costs of the rise in wage in …

-cost funding from a workers’ welfare fund and through budget transfers. Another factor limiting investment is the fragmented tax …

population dynamics and productivity growth. Although a reform is necessary, delaying its implementation implies large welfare …

accumulation and the allocation of resources across formal and informal sectors. Despite these losses recipients of social pensions … experience welfare gains as the positive insurance effects attributed to the extension of a social insurance system dominate. The … welfare gains crucially depend on the skill distribution, private intra-family transfers and the specific tax used to finance …

. A social welfare system dominated by pensions has not been able to prevent a steep hike in poverty among children and …Employment is pivotal to strengthening Greece’s economic recovery, increasing social welfare and redressing poverty …