This paper, a forthcoming chapter in the Handbook of Public Economics, reviews the theoretical and empirical issues dealing with Social Security pensions. The first part of the paper discusses pure pay-as-you-go plans. It considers the effects of introducing such a plan on the present value of...

In this paper we study the distributional impact of a change from the existing pay-as-you-go Social Security system to one that combines both pay-as-you-go and investment-based elements. Critics of investment-based plans have been concerned that such plans might reduce the retirement income of...

Because its benefit formula replaces a greater fraction of the lifetime earnings of lower earners than of higher earnings, Social Security is generally thought to be progressive, providing However, much of the intra-cohort redistribution in the U.S. Social Security system is related to factors...

The composition of business investment in the United States changed dramatically during the 1980s. Workplaces were transformed as a result of investments in information processing equipment such as computers, fax machines, copiers, and sophisticated telephones. Businesses built new office towers...

The IRS estimates that more than 20 percent of Earned Income Tax Credit (EITC) payments are made in error. By matching the Current Population Survey (CPS) to tax return data, this paper finds that a large portion of the overpayments went to families with children. Depending on the exact measure...

Experimental estimates from Moving to Opportunity (MTO) show no significant impacts of moves to lowerâ€poverty neighborhoods on adult economic selfâ€sufficiency four to seven years after random assignment. The authors disagree with Clampetâ€Lundquist and Massey's claim that MTO was a...

This study focuses on 540 households originally living in public housing in high-poverty areas of Boston who participated in HUD’s Moving To Opportunity (MTO) demonstration. Participants were randomly assigned to one of three groups: Experimental – offered mobility counseling and a Section 8...