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Redistributive effects of different pension structures when longevity varies by socioeconomic status in a general equilibrium setting
Sanchez-Romero, Miguel; Lee, Ronald Demos; … - 2019
nonredistributive plan that accounts for differences in mortality, US Social Security reduces regressivity from longevity differences …
Persistent link: https://www.econbiz.de/10012314266
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Differential mortality and the progressivity of social security
Bagchi, Shantanu - 2016
-dependent mortality risk. This is because while a more progressive benefit-earnings rule provides increased insurance for households with … relatively unfavorable earnings histories, and therefore lower savings and survivorship, their relatively high mortality risk … nearly identical optimal benefit-earnings rules both with and without differential mortality. …
Persistent link: https://www.econbiz.de/10011554131
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Means testing and Social Security in the United States
Bagchi, Shantanu - In: International studies of economics 19 (2024) 1, pp. 68-91
This paper uses a heterogeneous-agent overlapping-generations model to examine the fiscal and distributional consequences of introducing a means test in US Social Security. I find that a means test, that is, conditioning benefit payments on a household's earnings or assets, leads to a higher...
Persistent link: https://www.econbiz.de/10014513264
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The macroeconomic effects of longevity risk under private and public insurance and asymmetric information
Heijdra, Ben J.; Jiang, Yang; Mierau, Jochen O. - 2017
pension benefit rule that is adopted. If this rule incorporates some implicit or explicit redistribution from healthy to … unhealthy individuals then the latter types are better off as a result of the pension system. In the absence of redistribution …
Persistent link: https://www.econbiz.de/10011761551
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Progressing towards efficiency : the role for labor tax progression in reforming social security
Makarski, Krzysztof; Tyrowicz, Joanna; Komada, Oliwia - 2022
show that the progressive labor tax can partially substitute for the redistribution in social security, thus reducing the …
Persistent link: https://www.econbiz.de/10012888436
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Role of Social Security in Explaining the Rate of Saving Disparity : A Historical Study of New Zealand versus Singapore: 1960-1993
Bandyopadhyay, Debasis - 2017
This paper provides evidence to argue that the difference in the social security schemes of two countries may help explain the disparity in their saving rates. We examine the argument by limiting our focus to a comparison of New Zealand and Singapore for the period 1960–1993. We choose the...
Persistent link: https://www.econbiz.de/10012952853
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The Dynamics of Inequality and Social Security in General Equilibrium
Song, Zheng Michael - 2009
This paper analyzes the dynamic politico-economic equilibrium of a model where repeated voting on social security and the evolution of household characteristics in general equilibrium are mutually affected over time. In particular, we incorporate within-cohort heterogeneity in a two-period...
Persistent link: https://www.econbiz.de/10012718407
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The Welfare Implications of Social Security for Homeowners
Chen, Kaiji - 2006
For most households in the U.S., the largest proportion of net worth is owner-occupied housing. We show that incorporating frictions associated with housing market into the life cycle framework generates a long-run welfare gain of eliminating social security almost twice as much as in a standard...
Persistent link: https://www.econbiz.de/10014058681
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Health Risk and the Welfare Effects of Social Security
Bagchi, Shantanu; Jung, Juergen - 2022
We quantify the importance of idiosyncratic health risk in a calibrated general-equilibrium model ofSocial Security. We construct an overlapping-generations model with rational-expectations households,idiosyncratic labor income and health risk, profit-maximizing firms, incomplete insurance...
Persistent link: https://www.econbiz.de/10014096107
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Temptation and Social Security in a Dynastic Framework
Kumru, Cagri S.; Tran, Chung - 2009
We investigate welfare and aggregate implications of a pay-as-you-go (PAYG) social security system in a dynastic framework in which individuals have self-control problems. The presence of self-control problems induces individuals to save less because of their urge for temptation towards current...
Persistent link: https://www.econbiz.de/10014046420