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The existing social security system in the U.S. has a special provision for married households: a married person can choose between own benefits and half of the spouse's benefits. Another feature of the system is the progressive calculation of benefits: benefits are determined by a concave...
Persistent link: https://www.econbiz.de/10010554589
The levels of wealth differ significantly among people who are approaching their retirement both by current marital status as well as by marital histories. We develop an equilibrium model of marriage and divorce and household savings, in which the interplay between endogenous formation and...
Persistent link: https://www.econbiz.de/10011082033
During the period from 1880 to 1950 publicly managed retirement security programs became an important part of the social fabric in most advanced economies. In this paper we study the social, demographic and economic origins of social security. We describe a model economy in which demographics,...
Persistent link: https://www.econbiz.de/10011082081