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The intra-generational redistributive effects of social security

Author

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  • Luis M. Cubeddu

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.

Suggested Citation

  • Luis M. Cubeddu, 1996. "The intra-generational redistributive effects of social security," Economics Working Papers 168, Department of Economics and Business, Universitat Pompeu Fabra.
  • Handle: RePEc:upf:upfgen:168
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    File URL: https://econ-papers.upf.edu/papers/168.pdf
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    References listed on IDEAS

    as
    1. Luis Cubeddu & Jose-Victor Rios-Rull, 1997. "Marital risk and capital accumulation," Staff Report 235, Federal Reserve Bank of Minneapolis.
    2. 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, October.
    3. Feldstein, Martin & Samwick, Andrew A., 1992. "Social Security Rules and Marginal Tax Rates," National Tax Journal, National Tax Association;National Tax Journal, vol. 45(1), pages 1-22, March.
    4. Hurd, Michael D, 1989. "Mortality Risk and Bequests," Econometrica, Econometric Society, vol. 57(4), pages 779-813, July.
    5. Imrohoroglu, Ayse & Imrohoroglu, Selahattin & Joines, Douglas H, 1995. "A Life Cycle Analysis of Social Security," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 6(1), pages 83-114, June.
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    Citations

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    Cited by:

    1. Jacques Le Cacheux & Vincent Touzé, 2002. "Les modèles d'équilibre général calculable à générations imbriquées. Enjeux, méthodes et résultats," Revue de l'OFCE, Presses de Sciences-Po, vol. 80(1), pages 87-113.
    2. 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.
    3. Roman Arjona, "undated". "Optimal Social Security Taxation in Spain," Studies on the Spanish Economy 80, FEDEA.
    4. 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.
    5. repec:spo:wpecon:info:hdl:2441/2091 is not listed on IDEAS

    More about this item

    Keywords

    Social security; demographics; heterogeneity; redistribution; simulation;

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • J1 - Labor and Demographic Economics - - Demographic Economics

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