How will the distribution of welfare, consumption, and leisure across households be affected
by social security reform? This paper addresses this question for social security reforms with …

In the past decades, elimination of the pay-as-you-go system in US has been extensively
discussed and studied. Such an elimination would also eliminate the intragenerational …

Four options to make the social security sustainable under the coming demographic shift are
presented; increase payroll taxes by 6 percentage points, reduce replacement rates by one …

A key question for Social Security reform is whether workers respond to the link on the
margin between the Social Security taxes they pay and the Social Security benefits they will …

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 …

Although the United States retirement-benefit formula is progressive and taxes are
proportional, it is shown that these three demographic effects cause the system to favour …

This paper proposes and analyzes a Social Security reform in which individuals no longer
face the OASI payroll tax after, say, age 54 or a career of 34 years, and their subsequent …

How much does the current social security system redistribute from rich to poor? We
propose alternative concepts of well-being that can be used to classify individuals from rich …

As many countries consider the privatization of existing pay-as-you-go Social Security
systems, the option to make participation in the new system voluntary may appeal to policy …

This paper uses earnings histories from the Social Security Administration, linked to the
survey responses for participants in the Health and Retirement Study, to investigate …