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Social security programs generally seek to provide insurance and to reduce poverty and inequality. Providing insurance requires little redistribution. But reducing inequality and alleviating poverty do require redistribution. To reduce inequality, programs must redistribute income, but...
Persistent link: https://www.econbiz.de/10011433386
We ask whether a PAYG-financed social security system is welfare improving in an economy with idiosyncratic and aggregate risk. We argue that interactions between the two risks are important for this question. One is a direct interaction in the form of a countercyclical variance of idiosyncratic...
Persistent link: https://www.econbiz.de/10010359333
We ask whether a PAYG-financed social security system is welfare improving in an economy with idiosyncratic and aggregate risk. We argue that interactions between the two risks are important for this question. One is a direct interaction in the form of a countercyclical variance of idiosyncratic...
Persistent link: https://www.econbiz.de/10010374428
In this paper, I estimate the fiscal impact of immigrants on the German pension insurance (PI) and unemployment insurance (UI) systems when return migration is an endogenous choice. For this purpose, I develop a dynamic stochastic model of joint return migration and saving decisions that...
Persistent link: https://www.econbiz.de/10003959164
In Uruguay, the pension programs cover over 90% of the elderly. Men are more likely to be eligible for the contributory …
Persistent link: https://www.econbiz.de/10013069730
The activity rate of mature men has increased in Uruguay in recent decades. This trend is remarkably different from … implicit in the main social security program of Uruguay. We find that mature men tend to experience significant social security … wealth losses if they postpone retirement. These losses tend to represent a greater share of workers wages in Uruguay than in …
Persistent link: https://www.econbiz.de/10013142130
We analyze recent trends of the activity rates and retirement of Uruguayan old age workers. We find that in Uruguay …. On the contrary, in recent decades the activity rate of old age men has been growing in Uruguay. In the case of women …
Persistent link: https://www.econbiz.de/10013142198
Persistent link: https://www.econbiz.de/10003178465
The paper develops an overlapping generations model that highlights interactions between social security, unemployment and growth. The social security system has two components: old age pensions and unemployment insurance. Pensions have a direct effect on economic growth. Both pensions and...
Persistent link: https://www.econbiz.de/10014072758
This article investigates the impact of increases and decreases in the level of net immigration in the United States as well as the effect of changes in the unemployment rate on the financial status of the Social Security program. After presenting the historical values of these important...
Persistent link: https://www.econbiz.de/10014116744