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Quantifying the Inefficiency of the US Social Security System

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  • J. C. Parra
  • M. Huggett

Abstract

We quantify the inefficiency of the retirement component of the US social security system within a model where agents receive idiosyncratic labor-productivity shocks that are privately observed

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File URL: http://repec.org/sce2005/up.26605.1106076524.pdf
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Bibliographic Info

Paper provided by Society for Computational Economics in its series Computing in Economics and Finance 2005 with number 70.

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Date of creation: 11 Nov 2005
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Handle: RePEc:sce:scecf5:70

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Keywords: social security; efficient allocations; idiosyncratic shocks;

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  10. Mikhail Golosov & Aleh Tsyvinski, 2005. "Designing Optimal Disability Insurance: A Case for Asset Testing," Levine's Bibliography 784828000000000450, UCLA Department of Economics.
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  12. Martin Feldstein, 1997. "The Missing Piece in Policy Analysis: Social Security Reform," NBER Working Papers 5413, National Bureau of Economic Research, Inc.
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  22. Tauchen, George, 1986. "Finite state markov-chain approximations to univariate and vector autoregressions," Economics Letters, Elsevier, vol. 20(2), pages 177-181.
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