MACROECONOMIC EFFECTS OF REDUCING OASI BENEFITS: A COMPARISON OF SEVEN OVERLAPPING-GENERATIONS MODELS
In this paper, we evaluate the effects of a reduction in Social Security’s Old-Age and Survivors Insurance (OASI) benefits using seven different quantitative general equilibrium overlapping-generations (OLG) models. We compare the effects of an anticipated one-third reduction in OASI benefits beginn...
Gespeichert in:
| Veröffentlicht in: | National tax journal 2019-12, Vol.72 (4), p.671-692 |
|---|---|
| Hauptverfasser: | , , , , , , , , , , , , , , , , |
| Format: | Artikel |
| Sprache: | eng |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
| container_end_page | 692 |
|---|---|
| container_issue | 4 |
| container_start_page | 671 |
| container_title | National tax journal |
| container_volume | 72 |
| creator | Nelson, Jaeger Phillips, Kerk Benzell, Seth G. Berkovich, Efraim Carroll, Robert DeBacker, Jason Diamond, John Evans, Richard Gokhale, Jagadeesh Kotlikoff, Laurence LaGarda, Guillermo Mackie, James Moore, Rachel Pecoraro, Brandon Pizzola, Brandon Ye, Victor Yifan Zodrow, George |
| description | In this paper, we evaluate the effects of a reduction in Social Security’s Old-Age and Survivors Insurance (OASI) benefits using seven different quantitative general equilibrium overlapping-generations (OLG) models. We compare the effects of an anticipated one-third reduction in OASI benefits beginning in 2031 on an economy that maintains currently scheduled benefits. We find many of the models generate qualitatively similar results concerning budgetary and macroeconomic aggregates; however, the magnitude of the effects varies owing to the models’ structure and calibration strategies. |
| doi_str_mv | 10.17310/ntj.2019.4.02 |
| format | Article |
| fullrecord | <record><control><sourceid>gale_proqu</sourceid><recordid>TN_cdi_proquest_journals_2313055665</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><galeid>A607943105</galeid><jstor_id>26835444</jstor_id><sourcerecordid>A607943105</sourcerecordid><originalsourceid>FETCH-LOGICAL-c451t-8199be3644cc48fa7f8b69f23a4c446d3c7821f22cbff21c073ab3a589191df93</originalsourceid><addsrcrecordid>eNptkctLw0AQxhdRsD6u3oSAVxP3MclmjzUmGtAG2npeNtvdmtImupse_O9NVXxAGWYGht83A_MhdEFwRDgj-KbtVxHFREQQYXqARkQAhBw4P0QjjGkaDsmO0Yn3K4wxAcJH6OZpnE2rPKsm1VOZBXlR5Nl8FlRFMM3vnrNych9U41kZ3OaTvCjnszN0ZNXam_Pvfoqei3yePYSP1X2ZjR9DDTHpw5QIURuWAGgNqVXcpnUiLGUKNECyYJqnlFhKdW0tJRpzpmqm4lQQQRZWsFN09bX31XVvW-N7ueq2rh1OSsoIw3GcJPEvtVRrI5vWdr1TetN4LccJ5gKGt-yocA-1NK1xat21xjbD-B8f7eGHWJhNo_cKrv8I6q1vWuOH4pvlS--Xauv93v3add47Y-WrazbKvUuC5aeVcrBS7qyUIDEdBJdfgpXvO_dD0yRlMQCwD4oIkpM</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>2313055665</pqid></control><display><type>article</type><title>MACROECONOMIC EFFECTS OF REDUCING OASI BENEFITS: A COMPARISON OF SEVEN OVERLAPPING-GENERATIONS MODELS</title><source>Education Source</source><source>Business Source Complete</source><source>Alma/SFX Local Collection</source><creator>Nelson, Jaeger ; Phillips, Kerk ; Benzell, Seth G. ; Berkovich, Efraim ; Carroll, Robert ; DeBacker, Jason ; Diamond, John ; Evans, Richard ; Gokhale, Jagadeesh ; Kotlikoff, Laurence ; LaGarda, Guillermo ; Mackie, James ; Moore, Rachel ; Pecoraro, Brandon ; Pizzola, Brandon ; Ye, Victor Yifan ; Zodrow, George</creator><creatorcontrib>Nelson, Jaeger ; Phillips, Kerk ; Benzell, Seth G. ; Berkovich, Efraim ; Carroll, Robert ; DeBacker, Jason ; Diamond, John ; Evans, Richard ; Gokhale, Jagadeesh ; Kotlikoff, Laurence ; LaGarda, Guillermo ; Mackie, James ; Moore, Rachel ; Pecoraro, Brandon ; Pizzola, Brandon ; Ye, Victor Yifan ; Zodrow, George</creatorcontrib><description>In this paper, we evaluate the effects of a reduction in Social Security’s Old-Age and Survivors Insurance (OASI) benefits using seven different quantitative general equilibrium overlapping-generations (OLG) models. We compare the effects of an anticipated one-third reduction in OASI benefits beginning in 2031 on an economy that maintains currently scheduled benefits. We find many of the models generate qualitatively similar results concerning budgetary and macroeconomic aggregates; however, the magnitude of the effects varies owing to the models’ structure and calibration strategies.</description><identifier>ISSN: 0028-0283</identifier><identifier>EISSN: 1944-7477</identifier><identifier>DOI: 10.17310/ntj.2019.4.02</identifier><language>eng</language><publisher>Chicago: National Tax Association</publisher><subject>Benefits ; Calibration ; Impact analysis ; Insurance ; Macroeconomics ; OASDHI ; Social security ; Studies ; Survivors' benefits</subject><ispartof>National tax journal, 2019-12, Vol.72 (4), p.671-692</ispartof><rights>COPYRIGHT 2019 National Tax Association</rights><rights>Copyright National Tax Association Dec 2019</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><cites>FETCH-LOGICAL-c451t-8199be3644cc48fa7f8b69f23a4c446d3c7821f22cbff21c073ab3a589191df93</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><link.rule.ids>314,776,780,27901,27902</link.rule.ids></links><search><creatorcontrib>Nelson, Jaeger</creatorcontrib><creatorcontrib>Phillips, Kerk</creatorcontrib><creatorcontrib>Benzell, Seth G.</creatorcontrib><creatorcontrib>Berkovich, Efraim</creatorcontrib><creatorcontrib>Carroll, Robert</creatorcontrib><creatorcontrib>DeBacker, Jason</creatorcontrib><creatorcontrib>Diamond, John</creatorcontrib><creatorcontrib>Evans, Richard</creatorcontrib><creatorcontrib>Gokhale, Jagadeesh</creatorcontrib><creatorcontrib>Kotlikoff, Laurence</creatorcontrib><creatorcontrib>LaGarda, Guillermo</creatorcontrib><creatorcontrib>Mackie, James</creatorcontrib><creatorcontrib>Moore, Rachel</creatorcontrib><creatorcontrib>Pecoraro, Brandon</creatorcontrib><creatorcontrib>Pizzola, Brandon</creatorcontrib><creatorcontrib>Ye, Victor Yifan</creatorcontrib><creatorcontrib>Zodrow, George</creatorcontrib><title>MACROECONOMIC EFFECTS OF REDUCING OASI BENEFITS: A COMPARISON OF SEVEN OVERLAPPING-GENERATIONS MODELS</title><title>National tax journal</title><description>In this paper, we evaluate the effects of a reduction in Social Security’s Old-Age and Survivors Insurance (OASI) benefits using seven different quantitative general equilibrium overlapping-generations (OLG) models. We compare the effects of an anticipated one-third reduction in OASI benefits beginning in 2031 on an economy that maintains currently scheduled benefits. We find many of the models generate qualitatively similar results concerning budgetary and macroeconomic aggregates; however, the magnitude of the effects varies owing to the models’ structure and calibration strategies.</description><subject>Benefits</subject><subject>Calibration</subject><subject>Impact analysis</subject><subject>Insurance</subject><subject>Macroeconomics</subject><subject>OASDHI</subject><subject>Social security</subject><subject>Studies</subject><subject>Survivors' benefits</subject><issn>0028-0283</issn><issn>1944-7477</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2019</creationdate><recordtype>article</recordtype><sourceid>N95</sourceid><sourceid>8G5</sourceid><sourceid>BENPR</sourceid><sourceid>GUQSH</sourceid><sourceid>M2O</sourceid><recordid>eNptkctLw0AQxhdRsD6u3oSAVxP3MclmjzUmGtAG2npeNtvdmtImupse_O9NVXxAGWYGht83A_MhdEFwRDgj-KbtVxHFREQQYXqARkQAhBw4P0QjjGkaDsmO0Yn3K4wxAcJH6OZpnE2rPKsm1VOZBXlR5Nl8FlRFMM3vnrNych9U41kZ3OaTvCjnszN0ZNXam_Pvfoqei3yePYSP1X2ZjR9DDTHpw5QIURuWAGgNqVXcpnUiLGUKNECyYJqnlFhKdW0tJRpzpmqm4lQQQRZWsFN09bX31XVvW-N7ueq2rh1OSsoIw3GcJPEvtVRrI5vWdr1TetN4LccJ5gKGt-yocA-1NK1xat21xjbD-B8f7eGHWJhNo_cKrv8I6q1vWuOH4pvlS--Xauv93v3add47Y-WrazbKvUuC5aeVcrBS7qyUIDEdBJdfgpXvO_dD0yRlMQCwD4oIkpM</recordid><startdate>20191201</startdate><enddate>20191201</enddate><creator>Nelson, Jaeger</creator><creator>Phillips, Kerk</creator><creator>Benzell, Seth G.</creator><creator>Berkovich, Efraim</creator><creator>Carroll, Robert</creator><creator>DeBacker, Jason</creator><creator>Diamond, John</creator><creator>Evans, Richard</creator><creator>Gokhale, Jagadeesh</creator><creator>Kotlikoff, Laurence</creator><creator>LaGarda, Guillermo</creator><creator>Mackie, James</creator><creator>Moore, Rachel</creator><creator>Pecoraro, Brandon</creator><creator>Pizzola, Brandon</creator><creator>Ye, Victor Yifan</creator><creator>Zodrow, George</creator><general>National Tax Association</general><general>University of Chicago Press</general><scope>AAYXX</scope><scope>CITATION</scope><scope>N95</scope><scope>XI7</scope><scope>ILT</scope><scope>3V.</scope><scope>7WY</scope><scope>7WZ</scope><scope>7X1</scope><scope>7XB</scope><scope>87Z</scope><scope>88C</scope><scope>8A9</scope><scope>8AO</scope><scope>8BJ</scope><scope>8FI</scope><scope>8FJ</scope><scope>8FK</scope><scope>8FL</scope><scope>8G5</scope><scope>ABUWG</scope><scope>AFKRA</scope><scope>ANIOZ</scope><scope>AZQEC</scope><scope>BENPR</scope><scope>BEZIV</scope><scope>CCPQU</scope><scope>DWQXO</scope><scope>FQK</scope><scope>FRAZJ</scope><scope>FRNLG</scope><scope>FYUFA</scope><scope>F~G</scope><scope>GHDGH</scope><scope>GNUQQ</scope><scope>GUQSH</scope><scope>JBE</scope><scope>K60</scope><scope>K6~</scope><scope>L.-</scope><scope>M0C</scope><scope>M0T</scope><scope>M2O</scope><scope>MBDVC</scope><scope>PADUT</scope><scope>PQBIZ</scope><scope>PQBZA</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>PRINS</scope><scope>PYYUZ</scope><scope>Q9U</scope><scope>S0X</scope></search><sort><creationdate>20191201</creationdate><title>MACROECONOMIC EFFECTS OF REDUCING OASI BENEFITS</title><author>Nelson, Jaeger ; Phillips, Kerk ; Benzell, Seth G. ; Berkovich, Efraim ; Carroll, Robert ; DeBacker, Jason ; Diamond, John ; Evans, Richard ; Gokhale, Jagadeesh ; Kotlikoff, Laurence ; LaGarda, Guillermo ; Mackie, James ; Moore, Rachel ; Pecoraro, Brandon ; Pizzola, Brandon ; Ye, Victor Yifan ; Zodrow, George</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c451t-8199be3644cc48fa7f8b69f23a4c446d3c7821f22cbff21c073ab3a589191df93</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2019</creationdate><topic>Benefits</topic><topic>Calibration</topic><topic>Impact analysis</topic><topic>Insurance</topic><topic>Macroeconomics</topic><topic>OASDHI</topic><topic>Social security</topic><topic>Studies</topic><topic>Survivors' benefits</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Nelson, Jaeger</creatorcontrib><creatorcontrib>Phillips, Kerk</creatorcontrib><creatorcontrib>Benzell, Seth G.</creatorcontrib><creatorcontrib>Berkovich, Efraim</creatorcontrib><creatorcontrib>Carroll, Robert</creatorcontrib><creatorcontrib>DeBacker, Jason</creatorcontrib><creatorcontrib>Diamond, John</creatorcontrib><creatorcontrib>Evans, Richard</creatorcontrib><creatorcontrib>Gokhale, Jagadeesh</creatorcontrib><creatorcontrib>Kotlikoff, Laurence</creatorcontrib><creatorcontrib>LaGarda, Guillermo</creatorcontrib><creatorcontrib>Mackie, James</creatorcontrib><creatorcontrib>Moore, Rachel</creatorcontrib><creatorcontrib>Pecoraro, Brandon</creatorcontrib><creatorcontrib>Pizzola, Brandon</creatorcontrib><creatorcontrib>Ye, Victor Yifan</creatorcontrib><creatorcontrib>Zodrow, George</creatorcontrib><collection>CrossRef</collection><collection>Gale Business: Insights</collection><collection>Business Insights: Essentials</collection><collection>Gale OneFile: LegalTrac</collection><collection>ProQuest Central (Corporate)</collection><collection>ABI/INFORM Collection</collection><collection>ABI/INFORM Global (PDF only)</collection><collection>Accounting & Tax Database</collection><collection>ProQuest Central (purchase pre-March 2016)</collection><collection>ABI/INFORM Global (Alumni Edition)</collection><collection>Healthcare Administration Database (Alumni)</collection><collection>Accounting & Tax Database (Alumni Edition)</collection><collection>ProQuest Pharma Collection</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>Hospital Premium Collection</collection><collection>Hospital Premium Collection (Alumni Edition)</collection><collection>ProQuest Central (Alumni) (purchase pre-March 2016)</collection><collection>ABI/INFORM Collection (Alumni Edition)</collection><collection>Research Library (Alumni Edition)</collection><collection>ProQuest Central (Alumni Edition)</collection><collection>ProQuest Central UK/Ireland</collection><collection>Accounting, Tax & Banking Collection</collection><collection>ProQuest Central Essentials</collection><collection>ProQuest Central</collection><collection>Business Premium Collection</collection><collection>ProQuest One Community College</collection><collection>ProQuest Central Korea</collection><collection>International Bibliography of the Social Sciences</collection><collection>Accounting, Tax & Banking Collection (Alumni)</collection><collection>Business Premium Collection (Alumni)</collection><collection>Health Research Premium Collection</collection><collection>ABI/INFORM Global (Corporate)</collection><collection>Health Research Premium Collection (Alumni)</collection><collection>ProQuest Central Student</collection><collection>Research Library Prep</collection><collection>International Bibliography of the Social Sciences</collection><collection>ProQuest Business Collection (Alumni Edition)</collection><collection>ProQuest Business Collection</collection><collection>ABI/INFORM Professional Advanced</collection><collection>ABI/INFORM Global</collection><collection>Healthcare Administration Database</collection><collection>Research Library</collection><collection>Research Library (Corporate)</collection><collection>Research Library China</collection><collection>ProQuest One Business</collection><collection>ProQuest One Business (Alumni)</collection><collection>ProQuest One Academic Eastern Edition (DO NOT USE)</collection><collection>ProQuest One Academic</collection><collection>ProQuest One Academic UKI Edition</collection><collection>ProQuest Central China</collection><collection>ABI/INFORM Collection China</collection><collection>ProQuest Central Basic</collection><collection>SIRS Editorial</collection><jtitle>National tax journal</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Nelson, Jaeger</au><au>Phillips, Kerk</au><au>Benzell, Seth G.</au><au>Berkovich, Efraim</au><au>Carroll, Robert</au><au>DeBacker, Jason</au><au>Diamond, John</au><au>Evans, Richard</au><au>Gokhale, Jagadeesh</au><au>Kotlikoff, Laurence</au><au>LaGarda, Guillermo</au><au>Mackie, James</au><au>Moore, Rachel</au><au>Pecoraro, Brandon</au><au>Pizzola, Brandon</au><au>Ye, Victor Yifan</au><au>Zodrow, George</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>MACROECONOMIC EFFECTS OF REDUCING OASI BENEFITS: A COMPARISON OF SEVEN OVERLAPPING-GENERATIONS MODELS</atitle><jtitle>National tax journal</jtitle><date>2019-12-01</date><risdate>2019</risdate><volume>72</volume><issue>4</issue><spage>671</spage><epage>692</epage><pages>671-692</pages><issn>0028-0283</issn><eissn>1944-7477</eissn><abstract>In this paper, we evaluate the effects of a reduction in Social Security’s Old-Age and Survivors Insurance (OASI) benefits using seven different quantitative general equilibrium overlapping-generations (OLG) models. We compare the effects of an anticipated one-third reduction in OASI benefits beginning in 2031 on an economy that maintains currently scheduled benefits. We find many of the models generate qualitatively similar results concerning budgetary and macroeconomic aggregates; however, the magnitude of the effects varies owing to the models’ structure and calibration strategies.</abstract><cop>Chicago</cop><pub>National Tax Association</pub><doi>10.17310/ntj.2019.4.02</doi><tpages>22</tpages></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 0028-0283 |
| ispartof | National tax journal, 2019-12, Vol.72 (4), p.671-692 |
| issn | 0028-0283 1944-7477 |
| language | eng |
| recordid | cdi_proquest_journals_2313055665 |
| source | Education Source; Business Source Complete; Alma/SFX Local Collection |
| subjects | Benefits Calibration Impact analysis Insurance Macroeconomics OASDHI Social security Studies Survivors' benefits |
| title | MACROECONOMIC EFFECTS OF REDUCING OASI BENEFITS: A COMPARISON OF SEVEN OVERLAPPING-GENERATIONS MODELS |
| url | https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-02-02T12%3A08%3A06IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-gale_proqu&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=MACROECONOMIC%20EFFECTS%20OF%20REDUCING%20OASI%20BENEFITS:%20A%20COMPARISON%20OF%20SEVEN%20OVERLAPPING-GENERATIONS%20MODELS&rft.jtitle=National%20tax%20journal&rft.au=Nelson,%20Jaeger&rft.date=2019-12-01&rft.volume=72&rft.issue=4&rft.spage=671&rft.epage=692&rft.pages=671-692&rft.issn=0028-0283&rft.eissn=1944-7477&rft_id=info:doi/10.17310/ntj.2019.4.02&rft_dat=%3Cgale_proqu%3EA607943105%3C/gale_proqu%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_pqid=2313055665&rft_id=info:pmid/&rft_galeid=A607943105&rft_jstor_id=26835444&rfr_iscdi=true |