How Representative are Representative Workers? An Assessment of the Hypothetical Workers Commonly Used in Social Security Studies
AbstractAn understanding of the financial and distributional consequences of Social Security reform requires knowledge about the actual life circumstances of participants, including the level and pattern of their lifetime earnings and when they retire. Some analyses of Social Security reform make simplifying assumptions about these characteristics by using “hypothetical workers” with set career paths. We seek to develop greater understanding about actual lifetime earnings patterns to compare with hypothetical workers and find discrepancies which lead typical hypothetical workers to produce a more favorable impression for defined-contribution pension reforms. We suggest modifications to make a more suitable hypothetical worker.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 19036.
Date of creation: Jun 2009
Date of revision:
Publication status: Published in Journal of Income Distribution 2.18(2009): pp. 92-117
Social Security; Hypothetical Workers; Defined-Contribution Pensions;
Other versions of this item:
- Wade D. Pfau, 2009. "How Representative are Representative Workers? An Assessment of the Hypothetical Workers Commonly Used in Social Security Studies," Journal of Income Distribution, Journal of Income Distribution, vol. 18(2), pages 92-117, June.
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
This paper has been announced in the following NEP Reports:
- NEP-AGE-2009-12-19 (Economics of Ageing)
- NEP-ALL-2009-12-19 (All new papers)
- NEP-LAB-2009-12-19 (Labour Economics)
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.:
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