Caucutt, Elizabeth; Cooley, Thomas F; Guner, Nezih - C.E.P.R. Discussion Papers - 2007
security. We describe a model economy in which demographics, technology, and social security are linked together. We study an …. Furthermore, the level of social security is determined by majority voting. We show that a calibrated version of this economy is … want to implement social security. Once a majority of the voters move to the city, the median voter prefers a positive …