Kumru, Cagri Seda; Thanopoulos, Athanasios C. - CESifo - 2009
This paper analyzes a fully funded social security system under the assumption that agents face temptation issues …. Agents are required to save through individually managed Personal Security Accounts without, and with mandatory annuitization … complete elimination of social security is the reform scenario that maximizes welfare improvement. However, when self control …