Abstract Social Security is the largest income redistribution program in the United States. Being primarily a retirement pension system, the redistribution has a particular timing. Taxes are collected through a regressive formula while workers are young and the benefits are paid through a...

We evaluate the joint effects of social security and Medicaid on labor supply, savings, economic inequality, and welfare in an environment with idiosyncratic risk in labor earnings, health expenses, and survival. The model features households consisting males and females; a progressive social...