Myopia and pensions in general equilibrium

The US social security tax rate has doubled in the last half century.

Does the degree of myopic behavior that we observe in the US justify the size of the social security program? To study this question we build a computable general equilibrium model that is composed of life-cycle permanent-income consumers who save optimally and “hand-to-mouth” consumers who just consume their disposable income. Our model is a continuous-time, general equilibrium extension of the model by Cremer et al. (Int Tax Public Financ 15(5):547–562, 2008), though we abstract from the redistributive function of social security to focus on myopia. Retirement is a choice variable in our model and the social security program is designed to mimic the US program in which the annuity value of benefits increases with the retirement age. Also, we allow for delayed claiming beyond the date of retirement. The model matches a variety of important data targets relating to saving and retirement. We find that small reductions in the social security tax rate provide significant welfare gains to both groups of consumers.

The impact of social security reform on occupational and retirement behavior : a quantitative assessment for Brazil

Population ageing is a problem that countries will have to cope with within a few years. How would changes in the social security system affect individual behaviour? We develop a multi-sectoral life-cycle model with both retirement and occupational choices to evaluate what are the macroeconomic impacts of social security reforms. We calibrate the model to match 2011 Brazilian economy and perform a counterfactual exercise of the long-run impacts of a recently adopted reform. In 2013, the Brazilian government approximated the two segregated social security schemes, imposing a ceiling on public pensions. In the benchmark equilibrium, our modelling economy is able to reproduce the early retirement claiming, the agents' stationary distribution among sectors, as well as the social security deficit and the public job application decision. In the counterfactual exercise, we find a significant reduction of 55\% in the social security deficit, an increase of 1.94\% in capital-to-output ratio, with both output and capital growing, a delay in retirement claims of public workers and a modification in the structure of agents applying to the public sector job.

Re-thinking Argentina's labour and social security reform in the 1990s : agreement on competitive corporatism

This paper will analyze the Menem administration's social policy reforms during the 1990s. Neo-liberal reforms in Argentina are well-known both in the economy and in the social arena, but in the latter we can discern the presence of tripartite negotiations. The form of such negotiations, the type of agreements reached as a result, and the background to those agreements will be discussed. We also pay attention to the concept of competitive corporatism, which was established under the increase in market competition brought about by globalization.

Military Service Pensions for public and civil servants in independent Ireland

In 1924 the Cumann na nGaedheal government introduced the first Military Service Pensions Act to provide monetary compensation for those who fought for Irish independence between 1916 and 1923. Pensioners who were in receipt of remuneration from the state as civil and public servants had a portion of their pension deducted commensurate with their state income. This controversial provision was criticised by all political parties as representing a mean-spirited attitude towards veterans of the independence campaign and treating civil and public servants differently from those in private employment. It was eventually modified in the 1940s and abolished in the 1950s. This article provides a case study that highlights the parsimonious attitude of Irish governments towards veterans of the independence campaign and shows how the treatment of public and civil servants reflected tensions between the government and the civil service in the early years of the state.

Public policy for pensions, health and sickness insurance

Includes bibliography

Public policy for pensions, health and sickness insurance: potential lessons from Sweden for Latin America

Includes bibliography

The Extraordinary red book; containing a list of all places, pensions, and sinecures; the droits of the Crown and Admiralty; rents of Crown lands; the expenditure of the Civil List; a list of commissaries and other persons indebted to the public; with a complete view of the finance and debt of Great Britain, the whole comprising the strongest body of evidence to prove the necessity of retrenchment that can possibly be laid before the nation,

Mode of access: Internet.

Le Livre rouge, ou Liste des pensions secrettes, sur le trésor public; contenant les noms & qualités des pensionnaires, l'état de leurs services, & des observations sur les motifs qui leur ont mérité leur traitement.

Printed in red.

Pensions : report on the financial condition of the Illinois public employee retirement systems.

Examines the financial status of the various public employee retirement systems in Illinois.

Report of the Committee on salaries, tenure, and pensions of public school teachers in the United States to the National council of education, July, 1905.

At head of title: National educational association.

Report on advisability of coordinating social security coverage and benefits provided by public employee pensions in New York State /

Mode of access: Internet.

Retraites et equite intergenerationnelle. Une approche contractualise du système public de pensions portugais.

Doutoramento em Economia.

Determinants of social security pensions expenditure in Portugal

In most European countries Social Security (SS) systems are characterized as Pay-asyou- go systems. Their sustainability is being challenged with demographic changes, namely population ageing. Portugal’s population is ageing rapidly being one of the countries where this problem is more critical. With the growing debate on this topic several public choice models have been developed so as to explain SS size. In this work project there is an attempt to understand whether these models contribute to better explain Social security expenditure with pensions (SSEP) and to establish the need of finding ways to reduce present commitment with pension expenditure in Portugal.