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The impact of Social Security and other factors on the distribution of wealth

Jagadeesh Gokhale and Laurence Kotlikoff ()

No 9913, Working Papers (Old Series) from Federal Reserve Bank of Cleveland

Abstract: Auerbach et al. (1995), document the dramatic postwar increase in the annuitization of the resources of America?s elderly. Gokhale et al. (1996) suggest that greater annuitization may explain the significant postwar rise in the consumption propensity of the elderly out of remaining lifetime resources. Gokhale et al. (2000) consider the related point that increased annuitization will reduce bequests, especially for lower and middle-income households, whose entire earnings are taxed under Social Security. By differentially disenfranchising the children of the poor from receipt of inheritances, Social Security may materially alter the distribution of wealth. This paper uses data from the PSID to further analyze how Social Security and other factors affect wealth inequality.

Keywords: Wealth; Social security (search for similar items in EconPapers)
Date: 1999, Revised 1999
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Related works:
Chapter: The Impact of Social Security and Other Factors on the Distribution of Wealth (2002) Downloads
Working Paper: The Impact of Social Security and Other Factors on the Distribution of Wealth (1999)
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