| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w5512 |
| 来源ID | Working Paper 5512 |
| \"Social Security Privatization: A Structure for Analysis\" | |
| Olivia S. Mitchell; Stephen P. Zeldes | |
| 发表日期 | 1996-03-01 |
| 出版年 | 1996 |
| 语种 | 英语 |
| 摘要 | This paper identifies the key economic issues that must be addressed in the debate over a privatized social security system. We examine a two-pillar plan. The first pillar would consist of a demogrant: a small indexed pension of the same dollar amount for all retirees who had contributed to the system over a full lifetime of work. The second pillar would consist of a fully-funded individual defined-contribution account, financed by payroll taxes, held in financial institutions, and directed by participants. We explore how such a system would affect the risks households face, how it would alter the distribution of income, and how it might influence household behavior, including incentives to work and save, and portfolio choices. We also examine macroeconomic issues: how the transition to a private plan would occur, and what the likely effects would be on national saving. We conclude that a two-pillar system offers several positive features, namely a reduction in political risk, an increase in household portfolio choice, and improved work incentives. Disadvantages include less redistributiveness and national risk sharing, and increased administrative costs. |
| 主题 | Public Economics ; National Fiscal Issues ; Macroeconomics ; Fiscal Policy |
| URL | https://www.nber.org/papers/w5512 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/562975 |
| 推荐引用方式 GB/T 7714 | Olivia S. Mitchell,Stephen P. Zeldes. \"Social Security Privatization: A Structure for Analysis\". 1996. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w5512.pdf（451KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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