Social Security Reform and National Wealth
AbstractRecent trends in common stock prices suggest a distinction between increases in national net worth and flows of physical investment. In this paper we present a simple overlapping generations model in which such differences can arise: technological progress occurs exogenously, yet firms own new technologies for a time. We examine possible consequences for social security reform. Reform which increases private saving depletes part of its force raising the (capitalized) price of proprietary technologies. A calibrated example suggests an increase in physical capital one-third smaller than without inelastic factors. Both steady states and transition paths are considered. Copyright 2000 by The editors of the Scandinavian Journal of Economics.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Wiley Blackwell in its journal Scandinavian Journal of Economics.
Volume (Year): 102 (2000)
Issue (Month): 3 (June)
Contact details of provider:
Web page: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-9442
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Kent Smetters, 2005.
"Social Security Privatization with Elastic Labor Supply and Second-Best Taxes,"
wp092, University of Michigan, Michigan Retirement Research Center.
- Kent Smetters, 2005. "Social Security Privatization with Elastic Labor Supply and Second-Best Taxes," NBER Working Papers 11101, National Bureau of Economic Research, Inc.
- Marko Kothenbürger & Panu Poutvaara, 2006.
"Social Security Reform and Investment in Education: Is There Scope for a Pareto Improvement?,"
London School of Economics and Political Science, vol. 73(290), pages 299-319, 05.
- Köthenbürger, Marko & Poutvaara, Panu, 2006. "Social security reform and investment in education: Is there scope for a Pareto improvement?," Munich Reprints in Economics 19487, University of Munich, Department of Economics.
- Köthenbürger, Marko & Poutvaara, Panu, 2006. "Social security reform and investment in education: Is there scope for a Pareto improvement?," Munich Reprints in Economics 19486, University of Munich, Department of Economics.
- John Laitner & Dmitriy Stolyarov, 2003. "Technological Change and the Stock Market," American Economic Review, American Economic Association, vol. 93(4), pages 1240-1267, September.
- Marko Köthenbürger & Panu Poutvaara, 2004.
"Social Security Reform and Intergenerational Trade: Is there Scope for a Pareto-Improvement?,"
- Marko Koethenbuerger & Panu Poutvaara, 2002. "Social Security Reform and Intergenerational Trade: Is there Scope for a Pareto-Improvement?," CESifo Working Paper Series 795, CESifo Group Munich.
- Erling Steigum, 2001. "Trade Unions and the Burden of the Public Debt," CESifo Working Paper Series 587, CESifo Group Munich.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.