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Social Security Privatization with Elastic Labor Supply and Second-Best Taxes

Smetters, Kent - 2005

This paper shows that many common methods of privatizing social security fail to reduce labor market distortions when taxes are second best, challenging a key reason to privatize. Ironically, providing "transition relief" to workers alive at the time of the reform, in an effort to protect their...

Persistent link: https://www.econbiz.de/10012467584

The Optimal Taxation of Unskilled Labor with Job Search and Social Assistance

Boone, Jan - 2003

In order to explore the optimal taxation of low-skilled labor, we extend the standard model of optimal non-linear income taxation in the presence of quasi-linear preferences in leisure by allowing for involuntary unemployment, job search and an exogenous welfare benefit. In trading off...

Persistent link: https://www.econbiz.de/10012468913

Environmental Tax Interactions When Pollution Affects Health or Productivity

Williams, Roberton C. - 2000

pollution regulation. However, these studies have made restrictive assumptions regarding individual preferences and have ignored … key links between pollution, human health, and labor productivity. Together, these assumptions imply that the benefits of … that when the benefits of reduced pollution come in the form of improved health or productivity, the benefits do affect …

Persistent link: https://www.econbiz.de/10012470669

Health Effects in a Model of Second-Best Environmental Taxation or Reconsidering "Reconsidering the Tax-Interaction Effect"

Williams, Roberton C. - 2000

finding, arguing that the health benefits from reduced pollution will also interact with pre-existing taxes, possibly causing … considers health effects. It shows that interactions with health effects from pollution actually will tend to reduce the optimal …

Persistent link: https://www.econbiz.de/10012470683

Individual Risk in an Investment-Based Social Security System

Feldstein, Martin - 2001

This paper examines the risk aspects of an investment-based defined contribution Social Security plan. We focus on the risk after the plan is fully phased in. Individuals deposit a fraction of wages to a Personal Retirement Account (PRA), invest these funds in a 60:40 equity-debt mix, and in a...

Persistent link: https://www.econbiz.de/10012470655

Social Security in Theory and Practice (I) : Facts and Political Theories

Mulligan, Casey B. - 1999

166 countries have some kind of public old age pension. What economic forces create and sustain old age Social Security as a public program? We document some of the internationally and historically common features of Social Security programs including explicit and implicit taxes on labor supply,...

Persistent link: https://www.econbiz.de/10012471676

Social Security Investment in Equities I : Linear Case

Diamond, Peter - 1999

Social Security trust fund portfolio diversification to include some equities reduces the equity premium by raising the safe real interest rate. This requires changes in taxes. Under the hypothesis of constant marginal returns to risky investments, trust fund diversification lowers the price of...

Persistent link: https://www.econbiz.de/10012471696

Social Security and Institutions for Intergenerational, Intragenerational, and International Risk Sharing

Shiller, Robert J. - 1998

Social security system old age insurance systems are devices for the sharing of income risks of elderly people with others. Risks can be shared intergenerationally (with the young of the same country), intragenerationally (with other elderly of the same country), or internationally (with...

Persistent link: https://www.econbiz.de/10012472169

Privatization of Social Security : How It Works and Why It Matters

Kotlikoff, Laurence J. - 1995

This paper uses the Auerbach-Kotlikoff Dynamic Life-Cycle Model (AK Model) to examine the macroeconomic and efficiency effects of privatizing social security, and a simple privatization proposal, the Personal Security System, to discuss other issues associated with privatization. According to...

Persistent link: https://www.econbiz.de/10012473540

Social Security and the Determinants of Full and Partial Retirement : A Competing Risks Analysis

Sueyoshi, Glenn T. - 1989

Empirical analyses of retirement typically assume a single form of retirement. In this paper, I consider the determinants of retirement in a competing risks model which allows for full and partial retirement. Simulation results indicate that the large increase in Social Security benefits in the...

Persistent link: https://www.econbiz.de/10012475932

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