Chapter 32 Social security

This chapter reviews the theoretical and empirical issues dealing with Social Security pensions. The first part of the chapter discusses pure pay-as-you-go plans. It considers the effects of introducing such a plan on the present value of consumption, the optimal level of benefits in such plans, and the empirical research on the effects of pay-as-you-go pension systems on labor supply and saving. The second part of the chapter discusses the transition to investment-based systems, analyzing the effect on the present value of consumption of such a transition and considering such issues as the distributional effects and risk associated with such systems.

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Year of publication:	2002
Authors:	Feldstein, Martin ; Liebman, Jeffrey B.
Published in:	Handbook of public economics : volume 4. - Amsterdam : North-Holland, ISBN 0-444-82315-8. - 2002, p. 2245-2324
Subject:	Social Security \| pensions \| retirement \| Gesetzliche Rentenversicherung \| Public pension system \| Altersgrenze \| Retirement \| Rentenfinanzierung \| Pension finance \| Soziale Sicherheit \| Social security \| Altersvorsorge \| Retirement provision

Type of publication:	Article
Language:	English
Other identifiers:	10.1016/S1573-4420(02)80011-8 [DOI]
Classification:	H55 - Social Security and Public Pensions
Source:	ECONIS - Online Catalogue of the ZBW

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