Social security in theory and practice (I): Facts and political theories

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• dc.contributor.author Mulligan, Casey B.ca
• dc.contributor.author Sala-i-Martin, Xavier, 1963-ca
• dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
• dc.date.accessioned 2017-07-26T10:51:01Z
• dc.date.available 2017-07-26T10:51:01Z
• dc.date.issued 1999-04-01
• dc.date.modified 2017-07-23T02:04:32Z
• dc.description.abstract 166 countries have some kind of public old age pension. What economic forces create and sustain old age Social Security as a public program? We document some of the internationally and historically common features of Social Security programs including explicit and implicit taxes on labor supply, pay-as-you-go features, intergenerational redistribution, benefits which are increasing functions of lifetime earnings and not means-tested. We partition theories of Social Security into three groups: "political", "efficiency" and "narrative" theories. We explore three political theories in this paper: the majority rational voting model (with its two versions: "the elderly as the leaders of a winning coalition with the poor" and the "once and for all election" model), the "time-intensive model of political competition" and the "taxpayer protection model". Each of the explanations is compared with the international and historical facts. A companion paper explores the "efficiency" and "narrative" theories, and derives implications of all the theories for replacing the typical pay-as-you-go system with a forced savings plan.
• dc.format.mimetype application/pdfca
• dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=384
• dc.identifier.uri http://hdl.handle.net/10230/1059
• dc.language.iso eng
• dc.relation.ispartofseries Economics and Business Working Papers Series; 384
• dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
• dc.rights.accessRights info:eu-repo/semantics/openAccess
• dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
• dc.subject.keyword social security
• dc.subject.keyword retirement
• dc.subject.keyword gerontocracy
• dc.subject.keyword retirement incentives
• dc.subject.keyword political theories of social security
• dc.subject.keyword Macroeconomics and International Economics
• dc.title Social security in theory and practice (I): Facts and political theoriesca
• dc.type info:eu-repo/semantics/workingPaper