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Simulating the Privatization of Social Security in General Equilibrium

Kotlikoff, Laurence J. - 1996

alternative privatization schemes using the Auerbach-Kotlikoff Dynamic Life-Cycle Model. The simulations indicate three things … long-run gains from privatization are larger if privatization redistributes resources from initial to future generations …, the pure efficiency gains from privatization are also substantial. Efficiency gains refers to the welfare improvement …

Persistent link: https://www.econbiz.de/10012473058

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

Kotlikoff, Laurence J. - 1995

effects of privatizing social security, and a simple privatization proposal, the Personal Security System, to discuss other … issues associated with privatization. According to the AK Model, privatizing social security can create major long … compensated for losses from privatization. The precise size of the efficiency gain depends on the existing tax structure, linkage …

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

Would Privatizing Social Security Raise Economic Welfare?

Feldstein, Martin - 1995

A funded social security retirement program would imply a larger capital stock and a higher level of real income than an unfunded program that provides the same level of benefits. The transition from an unfunded program to a funded program that does not reduce the benefits of existing retirees...

Persistent link: https://www.econbiz.de/10012473594

Foreign Competition and Innovation

Helpman, Elhanan - National Bureau of Economic Research - 2023

Empirical studies have found that enhanced foreign competition can encourage or discourage innovation. To address this relationship, I examine a market structure in which a small number of large multi-product oligopolists compete with a large number of small single-product firms in the same...

Persistent link: https://www.econbiz.de/10014436971

Capital Subsidies and Countervailing Duties in Oligopolistic Industries

Spencer, Barbara J. - 1988

Under GATT, countries are allowed to impose countervailing duties to offset foreign subsidies. However GATT rules limit the amount of duty to the amount of the subsidy. This paper examines a generalized model of imperfect competition with capital subsidies and shows the conditions under which a...

Persistent link: https://www.econbiz.de/10012476547

Dynamics of Large Multinationals

Helpman, Elhanan; Niswonger, Benjamin C. - National Bureau of Economic Research - 2021

We develop a model of large multinational enterprises, each one producing a continuum of products. These outsized firms compete as oligopolists in a domestic and foreign market, facing competitive pressure from single-product firms that engage in monopolistic competition. The multinational...

Persistent link: https://www.econbiz.de/10012659995

Some Theoretical Connections Among Wealth, Income, Sustainability, and Accounting

Weitzman, Martin L. - 2016

In theory, and under some quite strong assumptions, there exists an important rigorous quantitative relationship among …-fold quantitative relationship in an ultra-simplified setting. I identify some basic applications of this simplified economic theory of …

Persistent link: https://www.econbiz.de/10012456614

A Welfare Criterion for Models with Distorted Beliefs

Brunnermeier, Markus K. - 2014

This paper proposes a welfare criterion for economies in which agents have heterogeneously distorted beliefs. Instead of taking a stand on whose belief is correct, our criterion asserts that an allocation is belief-neutral efficient (inefficient) if it is efficient (inefficient) under any convex...

Persistent link: https://www.econbiz.de/10012457975

Efficient Welfare Weights

Hendren, Nathaniel - 2014

How should we measure economic efficiency? The canonical measure is an unweighted sum of willingnesses to pay. In contrast, this paper provides efficient welfare weights that implement the Kaldor-Hicks tests for efficiency but account for the distortionary cost of taxation. The shape of the...

Persistent link: https://www.econbiz.de/10012458316

People, Places and Public Policy : Some Simple Welfare Economics of Local Economic Development Programs

Kline, Patrick - 2013

Most countries exhibit large and persistent geographical differences in wages, income and unemployment rates. A growing class of "place based" policies attempt to address these differences through public investments and subsidies that target disadvantaged neighborhoods, cities or regions. Place...

Persistent link: https://www.econbiz.de/10012459003