An Evaluation of Social Insurance Savings Accounts
نویسنده
چکیده
Many countries have reformed, or plan to reform, their pension system, often replacing defined benefits with some sort of savings account. In recent years proposals have been made to apply personal savings accounts also to other elements of social insurance, such as unemployment insurance, social assistance or parental leave compensation. This paper evaluates the consequences of replacing these systems with an insured social insurance savings accounts. Effects on marginal tax levels and income distribution are analyzed using both income panel data for Sweden and a simulated sample. * The author is grateful for help and comments to Dennis Snower, Mike Orszag, Josef Stiglitz, Peter Diamond and Robert Gidehag.
منابع مشابه
Social Insurance Based on Personal Savings Accounts: A possible reform strategy for overburdened welfare states?
In spite of some cutbacks in entitlements, many welfare states' spending has continuously increased over the past decades, leading to larger tax burdens and often higher marginal tax rates. Proposals for reform often focus on reduced social insurance benefits and more actuarial insurance premia. In this paper it is shown that such reforms may have a smaller potential for reducing the marginal t...
متن کاملImproving the Equity-Efficiency Trade-Off: Mandatory Savings Accounts for Social Insurance
In the modern welfare state a substantial part of an individual’s tax bill is transferred back to the same individual taxpayer in the form of social transfers. This provides a rationale for financing part of social insurance through mandatory savings accounts. We analyze the behavioral and welfare effects of compulsory savings accounts in an intertemporal model with uncertainty, endogenous invo...
متن کاملNew Economic Instruments of State Regulation of Private Savings, Social Security and Pension Support
In the conditions of market infrastructure for the transformation of medical services, there is an objective need to build effective insurance protection of the population against risks associated with loss of health. Using a systematic approach, the problem of combining compulsory and voluntary health insurance is investigated, a theoretical conceptualization of the concept of “financial mecha...
متن کاملHow Unemployment Insurance Savings Accounts Affect Employment Duration: Evidence from Chile
The introduction of unemployment insurance savings accounts (UISA) in Chile in October 2002 brought in more comprehensive unemployment protection while decreasing the opportunity costs of job change. Being the first to empirically investigate the effect of UISA on employment duration, this paper examines (i) whether the introduction of UISA affected employment duration among formal private sect...
متن کاملThe Macroeconomics of Health Savings Accounts (HSAs) or Medical Savings Accounts (MSAs)
We use an OLG model with heterogenous agents who choose how much to spend on their health under health uncertainty in order to study the effect of transitioning from a system with private health insurance for young agents and Medicare for old agents to a system with health savings accounds (HSAs) for young agents and Medicare for the old. We focus on possible cost savings, the effects on output...
متن کامل