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The intra-generational redistributive effects of social security

  • Luis M. Cubeddu
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    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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    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
    Contact details of provider: Web page: http://www.econ.upf.edu/

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    1. Hurd, Michael D, 1989. "Mortality Risk and Bequests," Econometrica, Econometric Society, vol. 57(4), pages 779-813, July.
    2. Luis Cubeddu & Jose-Victor Rios-Rull, 1997. "Marital risk and capital accumulation," Staff Report 235, Federal Reserve Bank of Minneapolis.
    3. Martin Feldstein & Andrew Samwick, 1992. "Social Security Rules and Marginal Tax Rates," NBER Working Papers 3962, National Bureau of Economic Research, Inc.
    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, May.
    5. 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.
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