Galasso, Vincenzo - In: Review of Economic Dynamics 2 (1999) 3, pp. 698-730
This paper examines how political constraints can shape the social security system under different demographics. A … steady state mapping between relevant economic and demographic variables and the social security tax rate resulting from a … probabilities projections, and 1961-96 labor productivity growth deliver a social security tax rate of 13.3% (currently 11.2%), and …