Social security benefits are linked directly to earnings through the social security benefit formula. Hence, the marginal increment in benefits due to increased earnings offsets to some degree the marginal increment in taxes. We show that the true life-cycle payroll tax rate for a given legislated...
Does It Pay, at the Margin, to Work and Save? Measuring Effective Marginal Taxes on Americans' Labor Supply and Saving. Building on Gokhale, Kotlikoff and Sluchynsky's (2002) study of Americans' incentives to work full- or part-time, this paper uses ESPlanner, a life-cycle f... Kotli...
Pay-as-you-go social security and the distribution of bequests This paper studies the impact of an unfunded social security system on the distribution of bequests in a framework where savings are due both by life cycle... J Caballé,L Fuster - 《Economics Working Papers》 被引量: 3发表:...
Social Securityhousehold wealthlife-cycle savingSocial Security wealth (SSW) is the present value of future benefits an individual will receive less the present value of future taxes they will pay. When an inSabelhaus, JohnHenriques Volz, Alice...
Then, using a calibrated life-cycle model, we show that both allowing households to use social security wealth to pay off their debt and exempting young households from social security contributions (but in both cases requiring higher contributions later) mitigate many of the inefficiencies of ...
Keenly aware of the different industrial chain nodes or development stages at which high-tech enterprises were located, it continued to roll out innovative technology finance products and services covering the whole industrial chain and the whole life cycle of customers. Meanwhile, CCB intensified the...
Abstract In this paper, we examine the optimal pay-as-you-go social security scheme which reallocates resources across generations in a changing environment, that is, with fluctuations in population growth rates and in productivity levels. We use an overlapping generations model along with a social...
In many countries, however, retirement incentives in social security programs prevent retirement ages from keeping pace with changes in life expectancy, leading to an increased need for life-cycle savings. Analyzing a cross-country panel of macroeconomic data, we find that increased longevity raises ...
With fast-growing technology, online social networks (OSNs) have exploded in popularity over the past few years. The pivotal reason behind this phenomenon
Unfunded social security has been instituted in many countries, and its effects on the economy have been controversial in the large body of literature. It depresses private savings in a life-cycle model (e.g. Feldstein, 1974), but is neutral in a dynastic-family model through private intergene...