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The intra-generational redistributive effects of social security

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  • Luis M. Cubeddu
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    Abstract

    This paper provides a quantitative evaluation of the intra--cohort redistributive elements of the United States social security system in the context of a computable general equilibrium model. I determine how the well--being of individuals that differ across {\sl gender, race} and {\sl education} is affected by government social security policy. I find that females, whites and non--college graduates stand less to gain (lose) from reductions (increases) in the size of social security than males, non--whites and college graduates, respectively. Differences in mortality risk and labor productivity translate into differences in the magnitudes of capital accumulation and labor supply distortions, that are responsible for the observed welfare difference between types. Results imply that the current program is lifetime progressive across gender and education, yet lifetime regressive across race.

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    File URL: http://www.econ.upf.edu/docs/papers/downloads/168.pdf
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    Bibliographic Info

    Paper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 168.

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    Date of creation: Apr 1996
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    Handle: RePEc:upf:upfgen:168

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    Web page: http://www.econ.upf.edu/

    Related research

    Keywords: Social security; demographics; heterogeneity; redistribution; simulation;

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    1. Hurd, Michael D, 1989. "Mortality Risk and Bequests," Econometrica, Econometric Society, vol. 57(4), pages 779-813, July.
    2. Imrohoroglu, Ayse & Imrohoroglu, Selahattin & Joines, Douglas H, 1995. "A Life Cycle Analysis of Social Security," Economic Theory, Springer, vol. 6(1), pages 83-114, June.
    3. Feldstein, Martin & Samwick, Andrew A., 1992. "Social Security Rules and Marginal Tax Rates," National Tax Journal, National Tax Association, vol. 45(1), pages 1-22, March.
    4. Gilbert Ghez & Gary S. Becker, 1975. "The Allocation of Time and Goods over the Life Cycle," NBER Books, National Bureau of Economic Research, Inc, number ghez75-1.
    5. Luis Cubeddu & Jose-Victor Rios-Rull, 1997. "Marital risk and capital accumulation," Staff Report 235, Federal Reserve Bank of Minneapolis.
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    Cited by:
    1. Jacques Le Cacheux & Vincent Touze, 2002. "Les modèles d’équilibre général calculable à générations imbriquées : enjeux, méthodes et résultats," Sciences Po publications info:hdl:2441/2091, Sciences Po.
    2. Luisa Fuster, 1999. "Is Altruism Important for Understanding the Long-Run Effects of Social Security?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 2(3), pages 616-637, July.
    3. repec:spo:wpecon:info:hdl:2441/2091 is not listed on IDEAS
    4. Roman Arjona, . "Optimal Social Security Taxation in Spain," Studies on the Spanish Economy 80, FEDEA.
    5. Meh, Césaire A., 2008. "Business risk, credit constraints, and corporate taxation," Journal of Economic Dynamics and Control, Elsevier, vol. 32(9), pages 2971-3008, September.

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