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

Kotlikoff, Laurence J. - 2021

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/10013218318

Would Privatizing Social Security Raise Economic Welfare?

Feldstein, Martin S. - 2021

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/10013224685

Firm Entry, Trade, and Welfare in Zipf's World

di Giovanni, Julian - 2010

Firm size follows Zipf's Law, a very fat-tailed distribution that implies a few large firms account for a disproportionate share of overall economic activity. This distribution of firm size is crucial for evaluating the welfare impact of economic policies such as barriers to entry or trade...

Persistent link: https://www.econbiz.de/10013138768

The Economic Benefits from Immigration

Borjas, George J. - 2010

Natives benefit from immigration mainly because of production complementarities between immigrant workers and other factors of production, and these benefits are larger when immigrants are sufficiently `different' from the stock of native productive inputs. The available evidence suggests that...

Persistent link: https://www.econbiz.de/10013139806

The Welfare Economics of Default Options in 401(K) Plans

Bernheim, B. Douglas - 2011

passive choice, and other 401(k) plan features. Depending on which theory and welfare perspective one adopts, virtually any …

Persistent link: https://www.econbiz.de/10013118423

Fiscal Policies, Capital Formation, and Capitalism

Feldstein, Martin S. - 2011

This lecture examines the effects of tax policy and social security retirement benefits on capital accumulation and economic welfare. The paper begins by examining how capital income taxes reduce the real return to savers and then discusses the welfare loss of capital income taxation relative to...

Persistent link: https://www.econbiz.de/10013118689

Productivity and the Welfare of Nations

Basu, Susanto - 2014

We show that the welfare of a country's infinitely-lived representative consumer is summarized, to a first order, by total factor productivity (TFP) and by the capital stock per capita. These variables suffice to calculate welfare changes within a country, as well as welfare differences across...

Persistent link: https://www.econbiz.de/10013066273

Costly Adjustment and Limited Borrowing : a Welfare Analysis of Policiesto Achieve External Balance

Aizenman, Joshua - 2008

This paper develops an analytical framework for the analysis of adjustment to adverse shocks in the presence of limited access to the international credit market. We consider an economy producing traded and non-traded goods and experiencing a permanent, unanticipated drop in the availability of...

Persistent link: https://www.econbiz.de/10012774617

A Welfarist Role for Nonwelfarist Rules : An Example with Envy

Weinzierl, Matthew - 2017

I propose and formalize an argument for why economists working in the welfarist normative tradition should include nonwelfarist principles in how they judge economic policy. The key idea behind this argument is that the world is too complex, and our ability to model it too limited, for us to...

Persistent link: https://www.econbiz.de/10012951872

Beyond Revealed Preference : Choice Theoretic Foundations for Behavioral Welfare Economics

Bernheim, B. Douglas - 2010

We propose a broad generalization of standard choice-theoretic welfare economics that encompasses a wide variety of non-standard behavioral models. Our approach exploits the coherent aspects of choice which those positive models typically attempt to capture. It replaces the standard revealed...

Persistent link: https://www.econbiz.de/10012759605

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