50-percent privatization using an overlapping-generations model where heterogeneous agents with elastic labor supply face … idiosyncratic earnings shocks and longevity uncertainty. When wage shocks are insurable, privatization produces about $30,100 of …, privatization reduces efficiency by about $8,100 per future household. We check the robustness of these results to different model …

This study draws lessons for the debate about the proposed partial privatization of Social Security in the United … States based on evidence from the United Kingdom. The British case suggests that privatization may lead to a reduction in the … likely that Americans will easily accept the level of privatization found in Britain …

This paper assesses the effect of social security privatization on the government budget, economic efficiency, national … saving, and the distribution of resources across generations. It is shown that the benefits of privatization most often … touted by privatization advocates can be achieved by simply altering taxes and social security pensions and leaving the basic …

This study draws lessons for the debate about the proposed partial privatization of Social Security in the United … States based on evidence from the United Kingdom. The British case suggests that privatization may lead to a reduction in the … likely that Americans will easily accept the level of privatization found in Britain …