The Social Security System, the Provision of Human Capital, and the Structure of Compensation
AbstractIn this paper the author examines the effect of the current social security system on the structure of compensation that a wealth- maximizing worker selects. It is shown that the current method of benef it determination encourages an upward-sloping wage profile and that the social security system alters the mix of wage and pension payments. In addition, the intragenerational transfers of the social security system alter the level of investment in human capital. As a result, the social security system reduces the disparity of income within the economy. Copyright 1987 by University of Chicago Press.
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Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Labor Economics.
Volume (Year): 5 (1987)
Issue (Month): 2 (April)
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- FLam, Sjur Didrik & Risa, Alf Erling, 1995. "Market Insurance, Social Insurance, and Education," Journal of Population Economics, Springer, vol. 8(2), pages 149-60, May.
- Bhattacharya, Joydeep & Reed, Robert, 2003. "Age-Specific Employment Policies," Staff General Research Papers 10256, Iowa State University, Department of Economics.
- Bhattacharya, Joydeep & Reed, Robert, 2006. "Social Security and Intergenerational Redistribution," Staff General Research Papers 12661, Iowa State University, Department of Economics.
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