This paper uses the Auerbach-Kotlikoff Dynamic Life-Cycle Model (AK Model) to examine the macroeconomic and efficiency effects of privatizing social security, and a simple privatization proposal, the Personal Security System, to discuss other issues associated with privatization. According to...

In order to stimulate labor market participation and improve the financial viability of the social security systems, many recent reform proposals in various OECD economies suggest to scale down the non-actuarial parts of the pension systems. These reforms have a flavour of increased efficiency...

The present paper quantifies the importance of family insurance for the analysis of social security. We therefore augment the standard overlapping generations model with idiosyncratic labor productivity and longevity risk in that we account for gender and marital status. We simulate the...

The present paper quantifies the importance of family insurance for the analysis of social security. We therefore augment the standard overlapping generations model with idiosyncratic labor productivity and longevity risk in that we account for gender and marital status. We simulate the...

In order to stimulate labor market participation and improve the financial viability of the social security systems, many recent reform proposals in various OECD economies suggest to scale down the non-actuarial parts of the pension systems. These reforms have a flavour of increased efficiency...