The Intragenerational Redistributive Effects of Unfunded Pension Programs

Luis Cubeddu

No 1998/180, IMF Working Papers from International Monetary Fund

Abstract: This paper provides a quantitative evaluation of the intracohort redistributive elements of the U.S. social security system in the context of a computable general equilibrium model. It determines how the well-being of individuals that differ by gender, race, and education is affected by the government’s social security policy. Differences in life expectancy and labor productivity translate into differences in capital accumulation and labor supply distortions that are responsible for the observed welfare difference between individuals of the same age cohort.

Keywords: WP; Social Security; demographics; heterogeneity; redistribution; simulation; productivity peak; sensitivity analysis; average earnings; expected return; consumer durables; annuity market; share parameter; benchmark economy; earnings profile; rate of return; production function; calibration procedure; Securities; Wages; Aging (search for similar items in EconPapers)
Pages: 34
Date: 1998-12-01
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=2859 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:1998/180

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Working Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().