ESSAYS ON THE ECONOMICS OF SOCIAL SECURITY
The dissertation consists of five independent essays on different aspects of the Social Security system and an introductory essay. The second essay analyzes the redistributive effects of the Social Security system. In the third essay the question whether the retirement system creates real or perceived wealth effects is considered. The fourth and the fifth essay analyzes the effects of the Social Security system in an open economy. The treatment of the international capital market differs in the two essays: In Chapter IV the capital market is characterized by perfect information and full mobility of capital while the assumption of perfect information is relaxed in Chapter V. The last essay studies the differential incidence of a substitution of a consumption tax for the current payroll tax to finance the retirement benefits of the Social Security system.
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