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Reforming Social Security with Progressive Personal Accounts
Geanakoplos, John - 2008
The heated debate about how to reform Social Security has come to a standstill because the view of most Democrats (that Social Security must be a defined benefits plan similar in spirit to the current system) seems irreconcilable with the proposals supported by many Republicans (to create a...
Persistent link: https://www.econbiz.de/10012464667
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Changing Progressivity as a Means of Risk Protection in Investment-Based Social Security
Samwick, Andrew A. - 2007
This paper analyzes changes in the progressivity of the Social Security benefit formula as a means of lessening the risk inherent in investment-based Social Security reform. Focusing on a single cohort of workers, it simulates the distribution of benefits subject to both earnings and financial...
Persistent link: https://www.econbiz.de/10012465595
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Notional Defined Contribution Pension Systems in a Stochastic Context : Design and Stability
Auerbach, Alan J. - 2006
Around the world, Pay-As-You-Go (PAYGO) public pension programs face serious long-term fiscal problems due primarily to actual and projected population aging, and most appear unsustainable as currently structured. Some have proposed the replacement of such plans with systems of fully funded...
Persistent link: https://www.econbiz.de/10012465854
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Transition to a Fully Funded Pension System : Five Economic Issues
Feldstein, Martin - 1997
This paper provides a relatively nontechnical discussion of the effects of shifting from a pay-as-you-go system of Social Security pensions to a fully funded plan based on individual accounts. The analysis discusses the rationale for such a shift and deals with five common problems: (1) the...
Persistent link: https://www.econbiz.de/10012472664
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Contributions to Defined Contribution Pension Plans
Choi, James J. - 2015
Defined contribution (DC) pensions are an increasingly important means of financing retirement consumption. Because individuals often have substantial discretion over how much is contributed to their DC pension, studying DC contribution choices provides general insights into the determinants of...
Persistent link: https://www.econbiz.de/10012457201
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Managing Contribution and Capital Market Risk in a Funded Public Defined Benefit Plan : Impact of CVaR Cost Constraints
Maurer, Raimond - 2008
Using a Monte Carlo framework, we analyze the risks and rewards of moving from an unfunded defined benefit pension system to a funded plan for German civil servants, allowing for alternative strategic contribution and investment patterns. In the process we integrate a Conditional Value at Risk...
Persistent link: https://www.econbiz.de/10012464316
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To Roth or Not? -- That is the Question
Kotlikoff, Laurence J. - 2008
Do regular 401(k) and IRA accounts offer greater tax benefits than Roth 401(k)s and Roth IRAs? This is a tough question. Regular 401(k)s and IRAs save taxes in the short term; Roth accounts save taxes in the long term. Regular 401(k)s and IRAs are vulnerable to future income tax hikes, but may...
Persistent link: https://www.econbiz.de/10012464884
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Social Security Privatization Reform and Labor Markets : The Case of Chile
Edwards, Sebastian - 2002
unemployment. Results from simulation exercises suggest that in the case of Chile the reforms resulted in an increase in informal … the reduction of Chile's aggregate of unemployment …
Persistent link: https://www.econbiz.de/10012469790
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The Chilean Pension Reform : A Pioneering Program
Edwards, Sebastian - 1996
's capital market, with reducing government contingent liabilities and with helping boost Chile's traditionally anemic savings …In the mid-1970s Chile initiated a deep market-oriented reform program aimed at opening up the economy, privatizing … state owned enterprises and stabilizing the macroeconomy. In the 1980s Chile began to grow at increasingly rapid rates …
Persistent link: https://www.econbiz.de/10012473017
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Population Aging, Savings Behavior and Capital Markets
Boersch-Supan, Axel H. - 2001
accentuated by fundamental pension reforms that aim at more pre-funding. Population aging changes households' savings behavior and … at the effects of population aging on savings behavior and capital markets therefore adds a new dimension to the …
Persistent link: https://www.econbiz.de/10012470157