Social security privatization: what it can and cannot accomplish
AbstractThis paper assesses the effect of social security privatization on the government budget, economic efficiency, national savings, and the distribution of resources across generations. It is shown that the benefits of privatization most often touted by privatization advocates can be achieved by simply altering taxes and social security pensions and leaving the basic structure of social security unchanged. In the conclusion, two simple arguments are given for why privatization might be a good idea nonetheless.
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Bibliographic InfoPaper provided by Board of Governors of the Federal Reserve System (U.S.) in its series Finance and Economics Discussion Series with number 1997-32.
Date of creation: 1997
Date of revision:
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- Eduardo Siandra, 1998. "Sistemas de pensiones, sus reformas y los mercados de capitales," Documentos de Trabajo (working papers) 0299, Department of Economics - dECON.
- Liqun Liu & Andrew J. Rettenmaier & Thomas R. Saving, 2003. "The transition to private market provision of elderly entitlements," Proceedings, Federal Reserve Bank of Dallas, issue Oct, pages 99-119.
- Julia Lynn Coronado, 1998. "The effects of social security privatization on household saving: evidence from the Chilean experience," Finance and Economics Discussion Series 1998-12, Board of Governors of the Federal Reserve System (U.S.).
- Michael Dotsey, 1997. "Investing in equities: can it help social security?," Economic Quarterly, Federal Reserve Bank of Richmond, issue Fall, pages 49-70.
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