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Social Security Privatization Reform and Labor Markets : The Case of Chile

Edwards, Sebastian; Edwards, Alejandra Cox - 2021

We analyze the way in which social security privatization reform affects labor market outcomes. We develop a model of …

Persistent link: https://www.econbiz.de/10013227027

Privatizing Social Security : First Round Effects of a Generic, Voluntaryprivatized U.S. Social Security System

Gustman, Alan L.; Steinmeier, Thomas L. - 2021

almost 100%. Estimated time paths for taxes decline immediately with privatization, but the decline in benefits grows slowly … over a period of two or three decades. Labor force participation rates are not greatly affected by privatization, even if …

Persistent link: https://www.econbiz.de/10013245314

The Transition Path in Privatizing Social Security

Feldstein, Martin S.; Samwick, Andrew - 2021

This paper analyzes the transition from the existing pay-as-you-go Social Security program to a system of funded Mandatory" Individual Retirement Accounts (MIRAs). Because of the high return on real capital relative to the very low return in a mature pay-as-you-go program, the benefits that can...

Persistent link: https://www.econbiz.de/10013210630

Privatization of Social Security : How it Works and Why it Matters

Kotlikoff, Laurence J. - 2021

effects of privatizing social security, and a simple privatization proposal, the Personal Security System, to discuss other … issues associated with privatization. According to the AK Model, privatizing social security can create major long … compensated for losses from privatization. The precise size of the efficiency gain depends on the existing tax structure, linkage …

Persistent link: https://www.econbiz.de/10013218318

The Economics of Prefunding Social Security and Medicare Benefits

Feldstein, Martin S.; Samwick, Andrew - 2021

This paper presents a detailed analysis of the economics of prefunding benefits for the aged, focusing on Social Security but indicating some of the analogous magnitudes for prefunding Medicare Benefits. We use detailed Census and Social Security information to model the transition to a fully...

Persistent link: https://www.econbiz.de/10013219183

Would Privatizing Social Security Raise Economic Welfare?

Feldstein, Martin S. - 2021

A funded social security retirement program would imply a larger capital stock and a higher level of real income than an unfunded program that provides the same level of benefits. The transition from an unfunded program to a funded program that does not reduce the benefits of existing retirees...

Persistent link: https://www.econbiz.de/10013224685

Privatization of Social Security : Lessons from Chile

Diamond, Peter A. - 2021

In Chile, all covered workers must place 10% of monthly earnings in a savings account with a highly regulated intermediary that manages a single fund and provides survivors and disability insurance. Workers pay a commission charge, in addition to the mandatory 10%, to finance this insurance and...

Persistent link: https://www.econbiz.de/10013230785

Social Security Incentives in Belgium : An Analysis of Four Decades of Change

Fraikin, Anne-Lore - 2018

The paper traces labor market reforms over the last four decades. It provides estimates of retirement incentives for a selected set of typical worker profiles across time and socioeconomic groups and links these series to the labor market performance in Belgium. The results show that the...

Persistent link: https://www.econbiz.de/10012906323

Social Security in Theory and Practice (Ii) : Efficiency Theories, Narrative Theories, and Implications for Reform

Mulligan, Casey B.; Sala-i-Martin, Xavier - 2021

166 countries have some kind of public old age pension. What economic forces create and sustain old age Social Security as a public program? Mulligan and Sala-i-Martin (1999) document several of the internationally and historically common features of social security programs, and explore...

Persistent link: https://www.econbiz.de/10013223569

Retirement Effects of Proposals by the President'S Commision to Strengthen Social Security

Gustman, Alan L.; Steinmeier, Thomas L. - 2021

A structural dynamic model of retirement and saving is used to simulate the retirement effects of proposals made by the President's Commission to Strengthen Social Security. Provisions reducing the growth in real benefits and increasing actuarial incentives to work reduce retirements. They more...

Persistent link: https://www.econbiz.de/10013225974