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Social Security and the increasing longevity gap.
- Source :
- Journal of Public Economic Theory; Feb2021, Vol. 23 Issue 1, p29-52, 24p
- Publication Year :
- 2021
-
Abstract
- Growth in overall life expectancy is straining the Social Security budget, and the gap in life expectancy between the rich and poor is widening. Motivated by these facts, this paper does four things. First, we develop a simple way to summarize the degree of progressivity in a Social Security system. Second, we show that growth in the life expectancy gap over the last few decades unwinds three‐quarters of the progressivity of the Social Security system. Third, we develop simple reforms to Social Security that maintain the progressivity of the system and restore fiscal solvency. Fourth, we estimate the welfare effects of these potential reforms. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 10973923
- Volume :
- 23
- Issue :
- 1
- Database :
- Complementary Index
- Journal :
- Journal of Public Economic Theory
- Publication Type :
- Academic Journal
- Accession number :
- 148160625
- Full Text :
- https://doi.org/10.1111/jpet.12477