Planning for the optimal mix of paygo tax and funded savings

2006 ◽  
Vol 5 (1) ◽  
pp. 1-25 ◽  
Author(s):  
GEORGES DE MENIL ◽  
FABRICE MURTIN ◽  
EYTAN SHESHINSKI
Keyword(s):  
United States ◽  
Social Security ◽  
Relative Rate ◽  
The United States ◽  
Annual Data ◽  
Labor Earnings ◽  
The Social ◽  
The Us ◽  
Optimal Mix ◽  
The Uk

We analyze the optimal balance between social security taxation and private saving in the provision of retirement income in dynamically efficient economies, a question at the center of policy debates in Europe and the United States. We consider the relative importance for this question of the return to capital, the internal return of the pay-as-you-go system, and the variabilities and correlation (or independence) of labor earnings and the capital return. We analyse these influences theoretically in the context of a two-period, overlapping generations model with uncertainty. We use a new method to calibrate the model using annual data on GDP per worker and the total real return on equities, from 1950 to 2002, from which we infer the stochastic characteristics of lifetime labor income and the return to lifetime savings in the US, UK, France and Japan. We obtain a range of optimal, steady-state values of the social security tax and the rate of lifetime savings. When the relative rate of risk aversion is assumed to be 2.5, the computed optimal tax varies from 5% in the United States to 22% in Japan. France is similar to Japan, and the UK is in between.

scholarly journals Identifying Rates of Emigration in the United States Using Administrative Earnings Records

2011 ◽  
Vol 2011 ◽  
pp. 1-17 ◽  
Author(s):  
Jonathan A. Schwabish
Keyword(s):  
United States ◽  
Social Security ◽  
The United States ◽  
Social Security System ◽  
Security System ◽  
Foreign Born ◽  
The Social ◽  
The Us ◽  
New Strategy ◽  
The Usa

This paper undertakes a new strategy to estimate emigration rates among US immigrants by inferring the probability of emigration using longitudinal administrative earnings data. Two groups of emigrants are evaluated separately: those who emigrate from the United States and those who leave both the United States and the Social Security system. About 1.0 to 1.5 percent of the foreign-born population emigrate from the USA every year, and between about 0.8 and 1.2 percent of foreign-born workers emigrate from the Social Security system. Regression analysis suggests that immigrants with lower earnings are more likely to emigrate and that the likelihood of emigrating from the United States increases with age, but is unchanged for those leaving the US Social Security system.

‘To see oursels as ithers see us’: Reflections on Scottish Independence from the United States

2014 ◽  
Vol 23 (3) ◽  
pp. 381-388 ◽  
Author(s):  
Euan Hague ◽  
Alan Mackie
Keyword(s):  
United States ◽  
The United States ◽  
The Us ◽  
Scottish Independence ◽  
The Uk ◽  
Scottish Diaspora

The United States media have given rather little attention to the question of the Scottish referendum despite important economic, political and military links between the US and the UK/Scotland. For some in the US a ‘no’ vote would be greeted with relief given these ties: for others, a ‘yes’ vote would be acclaimed as an underdog escaping England's imperium, a narrative clearly echoing America's own founding story. This article explores commentary in the US press and media as well as reporting evidence from on-going interviews with the Scottish diaspora in the US. It concludes that there is as complex a picture of the 2014 referendum in the United States as there is in Scotland.

The Impact of Monetary and Fiscal Policies on the Stock Market in the United States (U.S); Evidence from Linear ARDL Framework

2020 ◽  
Vol 11 (1) ◽  
pp. 132-132
Author(s):  
Aref Emamian
Keyword(s):  
United States ◽  
Stock Market ◽  
The United States ◽  
Real Effective Exchange Rate ◽  
Annual Data ◽  
Fiscal Policies ◽  
Long Run ◽  
The Us ◽  
Short Run ◽  
The Impact

This study examines the impact of monetary and fiscal policies on the stock market in the United States (US), were used. By employing the method of Autoregressive Distributed Lags (ARDL) developed by Pesaran et al. (2001). Annual data from the Federal Reserve, World Bank, and International Monetary Fund, from 1986 to 2017 pertaining to the American economy, the results show that both policies play a significant role in the stock market. We find a significant positive effect of real Gross Domestic Product and the interest rate on the US stock market in the long run and significant negative relationship effect of Consumer Price Index (CPI) and broad money on the US stock market both in the short run and long run. On the other hand, this study only could support the significant positive impact of tax revenue and significant negative impact of real effective exchange rate on the US stock market in the short run while in the long run are insignificant. Keywords: ARDL, monetary policy, fiscal policy, stock market, United States

A Critical Transnational Perspective to Asian America

2017 ◽  
Author(s):  
Yen Le Espiritu
Keyword(s):  
United States ◽  
Civil Rights ◽  
Asian American ◽  
The United States ◽  
Human Welfare ◽  
Vietnamese Refugees ◽  
The Social ◽  
The Us ◽  
The Status ◽  
Rights Discourse

Much of the early scholarship in Asian American studies sought to establish that Asian Americans have been crucial to the making of the US nation and thus deserve full inclusion into its polity. This emphasis on inclusion affirms the status of the United States as the ultimate protector and provider of human welfare, and narrates the Asian American subject by modern civil rights discourse. However, the comparative cases of Filipino immigrants and Vietnamese refugees show how Asian American racial formation has been determined not only by the social, economic, and political forces in the United States but also by US colonialism, imperialism, and wars in Asia.

scholarly journals Mexico: «the population explosion» and mass migration

2017 ◽  
pp. 56-62
Author(s):  
Nadejda Kudeyarova
Keyword(s):  
United States ◽  
The United States ◽  
Mexican Migration ◽  
Mexican Migrants ◽  
Migratory Activity ◽  
Mass Migration ◽  
The Social ◽  
The Us ◽  
Demographic Processes ◽  
Migration Analysis

The debate over the Mexican migrants issue has been intensi ed by Donald Trump’s election. His harsh statements have provoked a discussion on the US policy for Mexico, as well as on the migration regulation in the United States. However, the mass migration of the last quarter of XX - beginning of XXI centuries may be also readily associated with the social and demographic processes developed in Mexico throughout the 20th century. The dynamics of migratory activity followed the demographic changes. The internal causes of the Mexican migration analysis will allow more clarity in understanding contemporary migration interaction between the two neighboring countries.

The intelligence of six-year-olds in Hong Kong

1989 ◽  
Vol 21 (4) ◽  
pp. 461-464 ◽  
Author(s):  
Jimmy Chan ◽  
Richard Lynn
Keyword(s):  
United States ◽  
Hong Kong ◽  
Ethnic Minorities ◽  
The United States ◽  
Chinese Children ◽  
Pacific Basin ◽  
The Pacific ◽  
The Us ◽  
The Mean ◽  
The Uk

SummaryEvidence has accumulated to suggest that the mean IQs of Orientals in the United States and in the countries of the Pacific Basin are higher than those of Whites (Caucasoids) in the United States and Britain. This paper presents evidence from IQ tests on 4858 6-year-old Chinese children in Hong Kong. On the Coloured Progressive Matrices these children obtained a mean IQ of 116. Samples from Australia, Czechoslovakia, Germany, Romania, the UK and the US obtain IQs in the range 95–102. It is suggested that these results pose difficulties for the environmentalist explanations commonly advanced to explain the low mean IQs obtained by some ethnic minorities in the United States.

Discriminatory Motive and the But for Test: The Proper Approach to Direct Discrimination in Britain and the United States

2007 ◽  
Vol 9 (1) ◽  
pp. 37-56 ◽  
Author(s):  
Michael Connolly
Keyword(s):  
United States ◽  
The United States ◽  
Direct Discrimination ◽  
The Us ◽  
Broad Interpretation ◽  
The Uk

In recent years, senior judges in Britain have signalled a departure from the longestablished but for test used for direct discrimination cases. They appear to favour instead that the defendant held a discriminatory motive, or even hostility, for liability. In the United States, courts have settled upon a requirement for discriminatory motive, but afforded it such a broad interpretation that is scarcely distinguishable from the but for model, and is a convenient, if inaccurate label. This paper aims to demonstrate, using seven kinds of direct discrimination case, that neither a discriminatory motive doctrine, nor the but for test, are suitable models to analyse direct discrimination claims, and that the proper approach is a simple purposive interpretation of the statutory formula provided in both the UK and the US.

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