Showing 1 - 9 of 9
The U.S. and other western economies are experiencing dramatic changes in growth and age structure of their populations. Fluctuations in birth rates are the most important determinants of these changes in the post war period. This paper examines the dynamic effects of baby "booms" and...
Persistent link: https://www.econbiz.de/10012477787
The effect of social security and other forms of government debt on national savings is one of the most widely debated policy questions in economics today. Some estimates suggest that social security has reduced U.S. savings by almost forty percent. This paper examines recent cross-section and...
Persistent link: https://www.econbiz.de/10012478385
We evaluate several actual and hypothetical sustainable PAYGO pension structures, including: (1) versions of the US Social Security system with annual adjustments of taxes or benefits to maintain fiscal balance; (2) Sweden's Notional Defined Contribution system and several variants developed to...
Persistent link: https://www.econbiz.de/10012463965
This paper derives analytical measures of the combined effects of tax changes and adjustment costs on investment and market value. Unlike earlier measures, the effective tax rate derived is valid in the presence of adjustment costs and anticipated tax changes. The derived measure of the impact...
Persistent link: https://www.econbiz.de/10012476966
The Social Security trust fund will be exhausted in the early 2030s. The U.S. government will need to make a choice about how to address the impending trust fund exhaustion, but it is unclear what it will choose to do. This indecision leaves young and middle-aged workers not knowing whether they...
Persistent link: https://www.econbiz.de/10012533399
This paper uses a new large-scale dynamic simulation model to compare the equity, efficiency, and macroeconomic effects of five alternative to the current U.S. federal income tax. These reforms are a proportional income tax, a proportional consumption tax, a flat tax, a flat tax with transition...
Persistent link: https://www.econbiz.de/10012472564
The Tax Reform Act of 1986 was expected to cause an overall decline in business fixed investment and a shift in the composition of investment away from machinery and equipment, which previously had received an investment tax credit. Yet neither investment relative to GNP nor equipment investment...
Persistent link: https://www.econbiz.de/10012475389
How accurate are older people's expectations about their future Social Security benefits? Using panel data from the Health and Retirement Study, we compare respondents' observed Social Security claiming ages and benefits with subjective expectations provided during their 50s and early 60s. We...
Persistent link: https://www.econbiz.de/10014247944
Twenty years ago, the adjustment to monthly Social Security benefits for early or delayed claiming was, on average, roughly actuarially fair, although some subsets of individuals could gain from delay. Since then, delaying claiming has become much more attractive thanks to three factors: a more...
Persistent link: https://www.econbiz.de/10013537737