A Positive Theory of Social Security Based on Reputation

A Positive Theory of Social Security Based on Reputation

We Construct a general equilibrium model in which a pay‐as‐you‐go social security system can be adopted and sustained as a political and economic equilibrium. We alalyze the welfare implictions of this system and compare general equilibrium welfare measure to the commonly used notion of actuarial fa...

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Veröffentlicht in:The Journal of political economy 1999-02, Vol.107 (1), p.135-160
Hauptverfasser: Cooley, Thomas F., Soares, Jorge
Format: Artikel
Sprache:eng
Schlagworte:
Applied general equilibrium models
Cost control
Economic agents
Economic models
Economic theory
Economics
Environmental policy
Interest rates
Justice
Labor supply
Market equilibrium
Mathematical economics
Political Economy
Political security
Politics
Retirees
Security systems
Social impact
Social Security
Social Security benefits
Statistical analysis
Steady state economies
Studies
Sustainable economies
Tax rates
Taxes
Theory
Voting
Welfare
Welfare economics
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Beschreibung
Zusammenfassung:We Construct a general equilibrium model in which a pay‐as‐you‐go social security system can be adopted and sustained as a political and economic equilibrium. We alalyze the welfare implictions of this system and compare general equilibrium welfare measure to the commonly used notion of actuarial fairness.
ISSN:0022-3808
1537-534X
DOI:10.1086/250053