Kotlikoff, Laurence J.; Smetters, Kent; Walliser, Jan - In: Review of Economic Dynamics 2 (1999) 3, pp. 532-574
This paper uses a new version of the Auerbach-Kotlikoff model to consider alternative ways to privatize the U.S. Social Security system. The new model incorporates intra- and intergenerational heterogeneity and is closely calibrated to U.S. fiscal institutions. Three privatization issues are...