| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w18760 |
| 来源ID | Working Paper 18760 |
| On Financing Retirement with an Aging Population | |
| Ellen R. McGrattan; Edward C. Prescott | |
| 发表日期 | 2013-02-01 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | A problem facing the United States is financing retirement consumption as its population ages. Proposals for switching to a saving-for-retirement system that do not rely on high payroll taxes have been challenged on the grounds that welfare for some cohorts will fall. We show how to devise a transition path from the current U.S. system to a saving-for-retirement system that increases the welfare of all current and future cohorts, with estimates of future gains that are twice as large as those found with typically used macroeconomic models. The gains are large because there is more productive capital than commonly assumed. Furthermore, the gains are amplified if we lower capital taxes in addition to payroll taxes because the value of business equity increases relative to the capital stock. Our quantitative results depend importantly on accounting for differences between actual government tax revenues and what revenues would be if all income were taxed at the income-weighted average marginal tax rates used in our analysis. |
| 主题 | Macroeconomics ; Consumption and Investment ; Financial Economics ; Financial Markets ; Public Economics ; Taxation ; National Fiscal Issues |
| URL | https://www.nber.org/papers/w18760 |
| 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/576434 |
| 推荐引用方式 GB/T 7714 | Ellen R. McGrattan,Edward C. Prescott. On Financing Retirement with an Aging Population. 2013. |
| 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 | ||
| w18760.pdf（288KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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