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The Single-Mindedness Theory: Micro-foundation and Applications to Social Security Systems

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Author Info
Canegrati, Emanuele

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Abstract

The central purpose of this paper is to introduce a new political economy approach which explains the characteristics of Social Security Systems. This approach is based on the Single-Mindedness Theory (SMT), which assumes that the more single-minded groups are able to exert a greater power of influence on Governments and eventually obtain what they ask. Governments are seen as voting-maximizer policy-makers, whose unique goal is winning elections. Using an OLG model and a probabilistic voting approach, I analyse a society divided into two groups, the old and the young, which only differ for their preferences for leisure. I show that, to win elections, the Government sets the optimal policy vector taking into account the preferences for leisure of both groups; eventually, the young gain a fiscal benefit, whilst the old have such an high marginal tax rate that they prefer to retire and spend all their time in leisure, a fraction of which is used in undertake political activities whose aim is the capture of politicians.

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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 1223.

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Date of creation: Sep 2006
Date of revision: Jun 2007
Handle: RePEc:pra:mprapa:1223

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Related research
Keywords: probabilistic voting model single-mindedness social security systems

Other versions of this item:

Find related papers by JEL classification:
D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Models of Political Processes: Rent-seeking, Elections, Legislatures, and Voting Behavior
J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Casey B Mulligan, 1999. "Gerontocracy, Retirement, and Social Security," University of Chicago - George G. Stigler Center for Study of Economy and State 154, Chicago - Center for Study of Economy and State. [Downloadable!]
    Other versions:
  2. Rachel Ngai & Christopher Pissarides, 2006. "Trends in Hours and Economic Growth," 2006 Meeting Papers 56, Society for Economic Dynamics.
    Other versions:
  3. Peter Diamond, 2005. "Pensions for an Aging Population," NBER Working Papers 11877, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  4. David Dorn & Alfonso Sousa-Poza, 2005. "The Determinants of Early Retirement in Switzerland," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 141(II), pages 247-283, June. [Downloadable!]
  5. Hinich, Melvin J., 1977. "Equilibrium in spatial voting: The median voter result is an artifact," Journal of Economic Theory, Elsevier, vol. 16(2), pages 208-219, December. [Downloadable!] (restricted)
    Other versions:
  6. Koskela, Erkki & Schob, Ronnie, 2002. " Optimal Factor Income Taxation in the Presence of Unemployment," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 4(3), pages 387-404. [Downloadable!] (restricted)
    Other versions:
  7. Casey B. Mulligan & Xavier Sala-i-Martin, 2003. "Social Security, Retirement, and the Single-Mindedness of the Electorate," NBER Working Papers 9691, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  8. Jeremy Greenwood & Guillaume Vandenbroucke, 2005. "Hours Worked: Long-Run Trends," Economie d'Avant Garde Research Reports 10, Economie d'Avant Garde. [Downloadable!]
  9. Dora L. Costa, 1997. "Less of a Luxury: The Rise of Recreation since 1888," NBER Working Papers 6054, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  10. Clemens Fuest & Bernd Huber, . "Tax Coordination and Unemployment," EPRU Working Paper Series 97-26, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
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  11. Casey B. Mulligan & Xavier Sala-i-Martin, 1999. "Social Security in Theory and Practice (I): Facts and Political Theories," Economics Working Papers 384, Department of Economics and Business, Universitat Pompeu Fabra. [Downloadable!]
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  12. Douglas A. Hershey & Kène Henkens & Hendrik P. van Dalen, 2006. "Mapping the Minds of Retirement Planners," Tinbergen Institute Discussion Papers 06-038/1, Tinbergen Institute. [Downloadable!]
  13. Casey B. Mulligan & Xavier Sala-i-Martin, 1999. "Social Security in Theory and Practice (II): Efficiency Theories, Narrative Theories, and Implications for Reform," Economics Working Papers 385, Department of Economics and Business, Universitat Pompeu Fabra. [Downloadable!]
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  14. Paola Profeta, 2002. "Retirement and Social Security in a Probabilistic Voting Model," International Tax and Public Finance, Springer, vol. 9(4), pages 331-348, August. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. canegrati, emanuele, 2007. "A theory of the allocation of political time," MPRA Paper 1647, University Library of Munich, Germany. [Downloadable!]
  2. Emanuele, Canegrati, 2007. "A Contribution to the Positive Theory of Direct Taxation," MPRA Paper 6117, University Library of Munich, Germany. [Downloadable!]
    Other versions:
  3. Emanuele, Canegrati, 2007. "The Single-mindedness theory: empirical evidence from the U.K," MPRA Paper 2832, University Library of Munich, Germany. [Downloadable!]
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