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Benefit-Cost Analysis of Reforming the Turkish Social Insurance Institution for the Self-Employed (Bağ-Kur)

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  • Gumus, Erdal

Abstract

The purpose of this study is to estimate social benefits and social costs associated with a Feldsteinian-type gradual privatization of the Turkish Social Insurance Institute for Self –Employed Persons, “BK”. Based on data provided by the International Labor Organization, financial projections of the institution were made and extended to apply benefit cost model of privatization. Present value of the change in net social benefit was estimated. The effect of privatization on representative individuals has also been quantified. Results indicate that social benefits associated with a privatization alternative exceed the social costs even after adjustments for changes in key parameters that reduce social net benefits. However, privatization affects current representative individuals so negatively that it may constitute a “good political reason” to be against, rather than in favor of, choosing privatization.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 42108.

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Date of creation: 2005
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Publication status: Published in METU Studies in Development 2.33(2006): pp. 169-206
Handle: RePEc:pra:mprapa:42108

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Keywords: social security; Bag-Kur; Turkey; privatization; benefit-cost analysis;

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  1. Martin Feldstein & Andrew Samwick, 1996. "The Transition Path in Privatizing Social Security," NBER Working Papers 5761, National Bureau of Economic Research, Inc.
  2. Martin Feldstein, 1995. "Tax Avoidance and the Deadweight Loss of the Income Tax," NBER Working Papers 5055, National Bureau of Economic Research, Inc.
  3. Martin Feldstein, 1998. "Introduction to "Privatizing Social Security"," NBER Chapters, in: Privatizing Social Security, pages 1-29 National Bureau of Economic Research, Inc.
  4. von Furstenberg, George M, 1980. "Private Saving," American Economic Review, American Economic Association, vol. 70(2), pages 177-81, May.
  5. Feldstein, Martin S, 1974. "Social Security, Induced Retirement, and Aggregate Capital Accumulation," Journal of Political Economy, University of Chicago Press, vol. 82(5), pages 905-26, Sept./Oct.
  6. Olivia S. Mitchell, . "Administrative Costs in Public and Private Retirement Systems," Pension Research Council Working Papers 96-4, Wharton School Pension Research Council, University of Pennsylvania.
  7. Serdar Sayan & Turalay Kenc, 1999. "Long-term Consequences of Rehabilitating a Financially Troubled Pension System: An Analysis for Turkey," Working Papers 9914, Economic Research Forum, revised May 1999.
  8. Attanasio, Orazio P. & Paiella, Monica, 2001. "Households savings in the U.S.A," Research in Economics, Elsevier, vol. 55(1), pages 109-132, March.
  9. Meguire, Philip, 1998. "Comment: Social Security and Private Savings," National Tax Journal, National Tax Association, vol. 51(n. 2), pages 339-58, June.
  10. Barro, Robert J, 1974. "Are Government Bonds Net Wealth?," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
  11. Sayan, Serdar & Kiraci, Arzdar, 2001. "Parametric pension reform with higher retirement ages: A computational investigation of alternatives for a pay-as-you-go-based pension system," Journal of Economic Dynamics and Control, Elsevier, vol. 25(6-7), pages 951-966, June.
  12. Kenc, Turalay & Sayan, Serdar, 2001. "Demographic shock transmission from large to small countries: An overlapping generations CGE analysis," Journal of Policy Modeling, Elsevier, vol. 23(6), pages 677-702, August.
  13. Metin Ercen & Deniz Gokce, 1998. "Defined Contribution Model: Definition, Theory and an Application for Turkey," Istanbul Stock Exchange Review, Research and Business Development Department, Borsa Istanbul, vol. 2(8-7), pages 33-51.
  14. Martin Feldstein, 1998. "Privatizing Social Security," NBER Books, National Bureau of Economic Research, Inc, number feld98-1, octubre-d.
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