On the Distributional Effects of Social Security Reform

Mark Huggett and Gustavo Ventura
Authors registered in the RePEc Author Service: Ake Blomqvist

No 9710, University of Western Ontario, Departmental Research Report Series from University of Western Ontario, Department of Economics

Abstract: How will the distribution of welfare, consumption and leisure across households be affected by social security reform? This paper answers this question for a social security reform with a two-tier structure by comparing steady states under a realistic version of the current US system and under the two-tier system. The first tier is a mandatory, defined-contribution pension offering a retirement annuity proportional to the value of taxes paid, whereas the second tier guarantees a minimum retirement income. Our findings do not in general favor the implementation of pay-as-you go versions of the two-tier system for the US. The main findings are summarized in the introduction.

Keywords: SOCIAL RECURITY; INCOME; SOCIAL POLICY (search for similar items in EconPapers)
JEL-codes: H50 H53 (search for similar items in EconPapers)
Date: 1997
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Citations: View citations in EconPapers (7)

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Related works:
Journal Article: On the Distributional Effects of Social Security Reform (1999)
Working Paper: On the Distributional Effects of Social Security Reform (1998)
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