In January 2009, 51.1 million people, or about one in every six U.S. residents, received Social Security benefits. The benefits are financed by dedicated taxes on earnings paid by workers and employers, by income taxes that upper income beneficiaries pay on part of their Social Security...

Euro area entry calls for more fiscal flexibility to absorb cyclical shocks that cannot be dealt with by the common monetary policy. At the same time fiscal consolidation must not be put at risk, especially given rising ageing related costs. The current fiscal framework could be improved by...

Public pension burdens in most emerging Asian economies are still relatively small. However, there are a number of reasons to believe that they will increase markedly in the coming years. First, many Asian economies will face rapidly aging populations, which will raise pension and other...

In today's Social Security and Medicare business model, children and grandchildren pay six dollars of current taxes to provide six dollars of current benefits for their parents and grandparents. If we convert to a business model which uses compound interest so every generation pre-funds their...

For more than 25 years, the Social Security Trust Fund has been projected to run out of money in 2033 (give or take a few years), potentially causing benefits to be severely reduced in the absence of corrective legislative action. Today (February 2024), projections are made by the Social...

Using an empirical age-period-cohort model we analyze the effects of different Pay-As-You-Go (PAYG) public pension systems on financial imbalance, on inequality in permanent income, and on the rate of return of social security assets of heterogeneous agents in terms of gender and education....

This article explores the influence of the pension system on corporate governance, which has so far received little attention in the corporate law literature. While the shareholder-centric view of corporate governance is strong today, this is a relatively recent development. “Managerial...

This Article explores the influence of the pension system on corporate governance, which has so far received little attention in the corporate law literature. While the shareholder-centric view of corporate governance is strong today, this is a relatively recent development. “Managerial...