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Saving Social Security: The Diamond-Orszag Plan

Author

Listed:
  • Diamond Peter A

    (MIT)

  • Orszag Peter R

    (Brookings Institution)

Abstract

Social Security is one of Americas most successful government programs. It has helped millions of Americans avoid poverty in old age. To be sure, the program faces a long-term deficit and is in need of updating. But Social Securitys long-term financial health can be restored: the projected deficit is small enough that it can be eliminated through a progressive reform that combines modest benefit reductions and revenue increases.

Suggested Citation

  • Diamond Peter A & Orszag Peter R, 2005. "Saving Social Security: The Diamond-Orszag Plan," The Economists' Voice, De Gruyter, vol. 2(1), pages 1-9, April.
  • Handle: RePEc:bpj:evoice:v:2:y:2005:i:1:n:8
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    Citations

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    Cited by:

    1. Alessandro Cigno, 2010. "How to Avoid a Pension Crisis: A Question of Intelligent System Design ," CESifo Economic Studies, CESifo, vol. 56(1), pages 21-37, March.
    2. DIACONU MAXIM Laura & MAXIM Andrei, 2014. "Income Inequalities In The Developed Economies," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 66(3), pages 14-28.
    3. Heer, Burkhard & Polito, Vito & Wickens, Michael R., 2017. "Population Aging, Social Security and Fiscal Limits," CEPR Discussion Papers 11978, C.E.P.R. Discussion Papers.
    4. Aronsson, Thomas & Blomquist, Sören, 2018. "Uncertain Length of Life, Retirement Age, and Optimal Pension Design," Umeå Economic Studies 957, Umeå University, Department of Economics.
    5. Aronsson, Thomas & Blomquist, Sören, 2010. "The Standard Deviation of Life-Length, Retirement Incentives, and Optimal Pension Design," Working Paper Series, Center for Fiscal Studies 2010:11, Uppsala University, Department of Economics.
    6. Christian Jaag & Christian Keuschnigg & Mirela Keuschnigg, 2010. "Pension reform, retirement, and life-cycle unemployment," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 17(5), pages 556-585, October.
    7. Gonzalez-Eiras, Marti­n & Niepelt, Dirk, 2008. "The future of social security," Journal of Monetary Economics, Elsevier, vol. 55(2), pages 197-218, March.
    8. Kumru, Cagri S. & Thanopoulos, Athanasios C., 2011. "Social security reform with self-control preferences," Journal of Public Economics, Elsevier, vol. 95(7-8), pages 886-899, August.
    9. Christian Keuschnigg & Mirela Keuschnigg & Christian Jaag, 2011. "Aging and the Financing of Social Security in Switzerland," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 147(II), pages 181-231, June.
    10. Jan Bonenkamp & Lex Meijdam & Eduard Ponds & Ed Westerhout, 2017. "Ageing-driven pension reforms," Journal of Population Economics, Springer;European Society for Population Economics, vol. 30(3), pages 953-976, July.
    11. Gabay, Daniel & Grasselli, Martino, 2012. "Fair demographic risk sharing in defined contribution pension systems," Journal of Economic Dynamics and Control, Elsevier, vol. 36(4), pages 657-669.
    12. R. Melis & A. Trudda, 2014. "Mixed pension systems sustainability," Working Paper CRENoS 201413, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
    13. Fisher, Walter H. & Keuschnigg, Christian, 2011. "Life-Cycle Unemployment, Retirement, and Parametric Pension Reform," Economics Series 267, Institute for Advanced Studies.
    14. Marchand, J. & Smeeding, T., 2016. "Poverty and Aging," Handbook of the Economics of Population Aging, Elsevier.
      • Marchand, Joseph & Smeeding, Timothy, 2016. "Poverty and Aging," Working Papers 2016-11, University of Alberta, Department of Economics, revised 20 Nov 2016.
    15. Vere, James P., 2011. "Social Security and elderly labor supply: Evidence from the Health and Retirement Study," Labour Economics, Elsevier, vol. 18(5), pages 676-686, October.
    16. Kaganovich, Michael & Zilcha, Itzhak, 2012. "Pay-as-you-go or funded social security? A general equilibrium comparison," Journal of Economic Dynamics and Control, Elsevier, vol. 36(4), pages 455-467.
    17. repec:spr:inrvec:v:65:y:2018:i:1:d:10.1007_s12232-017-0284-5 is not listed on IDEAS
    18. Kathleen Krier, 2013. "Sustainable Social Security," Challenge, Taylor & Francis Journals, vol. 56(3), pages 74-92.
    19. Kotlikoff, Laurence J., 2011. "Fixing Social Security — What Would Bismarck Do?," National Tax Journal, National Tax Association;National Tax Journal, vol. 64(2), pages 415-428, June.
    20. Greco, Luciano G., 2006. "The optimal design of funded pensions," LSE Research Online Documents on Economics 24519, London School of Economics and Political Science, LSE Library.

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