| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w6428 |
| 来源ID | Working Paper 6428 |
| Social Security: Privatization and Progressivity | |
| Laurence J. Kotlikoff; Kent A. Smetters; Jan Walliser | |
| 发表日期 | 1998-02-01 |
| 出版年 | 1998 |
| 语种 | 英语 |
| 摘要 | This paper uses a large-scale overlapping generations model that features intragenerational heterogeneity to show that privatizing the U.S. Social Security System could be done on a progressive basis. We start with a close replica of the current system; specifically, we include Social Security's progressive linkages between taxes paid and benefits received. The paper compares achieving progressivity as part of privatization reform by a) providing a pay-as-you-go-financed minimum benefit to all agents at retirement independent of their contributions and b) matching contributions to private retirement accounts on a progressive basis. Although a pay-as-you-go-financed minimum benefit can enhance progressivity, it comes at the cost of substantially smaller long-run macroeconomic and welfare gains. The reasons are two: First, the ongoing unfunded liability to pay for the minimum benefit is roughly half of the unfunded liability of the current Social Security system. Maintaining this liability limits the effect of privatization on saving and capital accumulation. Second, the tax financing the flat minimum benefit is completely distortionary since the benefit one receives is independent of what one contributes. In contrast, matching worker's contributions on a progressive basis can achieve an equally progressive intragenerational distribution of welfare. But it affords much higher long-run levels of capital, labor supply, output and welfare. |
| 主题 | Public Economics ; National Fiscal Issues |
| URL | https://www.nber.org/papers/w6428 |
| 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/563942 |
| 推荐引用方式 GB/T 7714 | Laurence J. Kotlikoff,Kent A. Smetters,Jan Walliser. Social Security: Privatization and Progressivity. 1998. |
| 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 | ||
| w6428.pdf（557KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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