Social security

Martin Feldstein and Jeffrey Liebman (jeffrey_liebman@harvard.edu)

Chapter 32 in Handbook of Public Economics, 2002, vol. 4, pp 2245-2324 from Elsevier

Abstract: This chapter reviews the theoretical and empirical issues dealing with Social Security pensions. The first part of the chapter discusses pure pay-as-you-go plans. It considers the effects of introducing such a plan on the present value of consumption, the optimal level of benefits in such plans, and the empirical research on the effects of pay-as-you-go pension systems on labor supply and saving. The second part of the chapter discusses the transition to investment-based systems, analyzing the effect on the present value of consumption of such a transition and considering such issues as the distributional effects and risk associated with such systems.

JEL-codes: H0 (search for similar items in EconPapers)
Date: 2002
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Citations: View citations in EconPapers (97)

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Working Paper: Social Security (2001)
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