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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
The U.S. Social Security Administration, in cooperation with similar agencies in other countries, recently developed estimates of social security benefits for twelve major industrial countries. The present paper uses these data to estimate the effects of social security benefits on saving and...
Persistent link: https://www.econbiz.de/10012478793
In theory, improvements in healthy life expectancy should generate increases in the average age of retirement, with little effect on savings rates. In many countries, however, retirement incentives in social security programs prevent retirement ages from keeping pace with changes in life...
Persistent link: https://www.econbiz.de/10012466040
The worldwide problem with pay-as-you-go (PAYG) social security systems isn't just financial. This study indicates that these systems may have exerted adverse effects on key demographic factors, private savings, and long-term growth rates. Through a comprehensive endogenous-growth model where...
Persistent link: https://www.econbiz.de/10012467564
Substantial research attention has been devoted to the pension accumulation process, whereby employees and those advising them work to accumulate funds for retirement. Until recently, less analysis has been devoted to the pension decumulation process -- the process by which retirees finance...
Persistent link: https://www.econbiz.de/10012469621
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
the financial solvency of social security systems around the world. Ironically, the provisions of the systems themselves …
Persistent link: https://www.econbiz.de/10012472679
The claim that social protection is a luxury good--with a national income elasticity exceeding unity--has as been influential. The paper tests the "luxury good hypothesis" using newly-assembled data on social protection spending across countries since 1995, treating the pandemic period...
Persistent link: https://www.econbiz.de/10013388840
Freedom of movement is considered a basic human right by the majority of countries of the world. As defined in practice …, largely as a result of the immense international differences in labor productivity that exist in the world today. As an … illustrative example, I estimate that migration from Mexico to the United States raises global income by an amount equivalent to …
Persistent link: https://www.econbiz.de/10012462185
Mexico between 1980 and 1986 using a heterodox linear discrete time model of exchange rate crises. The forces contributing to …
Persistent link: https://www.econbiz.de/10012475715