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This paper presents four policy options to make Social Security sustainable under the coming demographic shift: 1) increase payroll taxes by 6 percentage points, 2) reduce the replacement rates of the benefit formula by one-third, 3) raise the normal retirement age from sixty-six to...
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We build a general equilibrium model of overlapping generations that incorporates endogenous saving, labor force participation, work hours, and Social Security benefit claims. Using this model, we study the impact of three Social Security reforms: 1) a reduction in benefits and payroll taxes; 2)...
Persistent link: https://www.econbiz.de/10008465776
"This paper examines the causes of the observed increase in the average duration of unemployment over the past thirty … in the generosity and coverage of unemployment insurance. We find that changes in the composition of the labor force and … institutional changes can only partially account for the longer duration of unemployment. We construct a job search model and …
Persistent link: https://www.econbiz.de/10002521759
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has not been a good predictor of whether the unemployment rate at the end of the expansion following a shift was higher or …
Persistent link: https://www.econbiz.de/10010890134
Remarks at the Quarterly Regional Economic Press Briefing, New York City.
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Remarks at the Quarterly Regional Economic Press Briefing, New York City.
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Remarks at Dominican College, Orangeburg, New York.
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Remarks before the Morris County Chamber of Commerce, Florham Park, New Jersey.
Persistent link: https://www.econbiz.de/10010724958