Caliendo, Frank and Atkins, Allen B. (2005) The president's social security plan: How much would you pay to participate? Working paper series--05-07. Working Paper. NAU W.A. Franke College of Business.
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Abstract
President Bush is in favor of using private retirement accounts to partially replace the current pay-as-you-go social security program. We use a simple life-cycle model to analyze whether or not private accounts would benefit workers. "Cash equivalents" are calculated under different assumptions to see how much a worker would be willing to pay to participate in the private account program. In most circumstances, workers would benefit from the private account program. Only when market rates of return are very low or a person expects to live for a very long time does the current pay-as-you-go system give a greater present value to a worker.
| Item Type: | Monograph (Working Paper) |
|---|---|
| Publisher’s Statement: | Copyright, where appropriate, is held by the author. |
| ID number or DOI: | 05-07 |
| Keywords: | Working paper, social security |
| Subjects: | H Social Sciences > HJ Public Finance |
| NAU Depositing Author Academic Status: | Faculty/Staff |
| Department/Unit: | The W.A. Franke College of Business |
| Date Deposited: | 19 Oct 2015 21:13 |
| URI: | http://openknowledge.nau.edu/id/eprint/1569 |
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