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Monograph
The labor supply of older American men
This chapter summarizes what is known about the labor supply of older American men, defined as those aged 55 years and over. The topic is of great interest because in the coming decades older individuals will comprise a much greater portion of the U.S. population, so the labor supply of older adults will have a significant impact on national output, tax revenues, and the cost of means-tested programs. Most importantly, a greater proportion of older individuals will need to remain in the workforce than is the present case, because the retirement income system is contracting and working longer ...
Conference Paper
How does public infrastructure affect regional economic performance?
Journal Article
How does public infrastructure affect regional economic performance?
Bridge collapses and water main explosions focus national attention on the crumbling condition of the nations infrastructure. Catastrophic infrastructure failures are always a momentary spur to debate on the nations capital investment policies. But increasingly these negative developments have been accompanied by economists claims that public capital investment makes a significant contribution to national output, . productivity, growth, and international competitiveness ; This paper explores the impact of public capital on economic activity at the state and regional level. The author ...
Conference Paper
Is there a shortfall in public capital investment? An overview
Conference Paper
Social Security: It ain't Broken: Panel Discussion
Working Paper
Are pensions worth the cost?
The U.S. Treasury estimates that personal income tax receipts in fiscal 1992 would be $51 billion higher without the special provisions accorded employer-sponsored pension plans. Pension provisions, in fact, were the single largest item in the tax expenditure budget. Like most other tax expenditures, and unlike direct expenditures, the revenue loss from favorable tax provisions for employer-sponsored plans is not submitted to a formal and systematic review each year by Congress. Therefore, the question of whether taxpayers are getting their money?s worth from this very large implicit outlay ...
Journal Article
Public versus private provision of retirement income
Journal Article
Current taxation of qualified pension plans: has the time come?
The U.S. Treasury estimates that personal income tax receipts in fiscal year 1992 would have been $51 billion higher without the special provisions accorded employer-sponsored pension plans. It is at best unclear that taxpayers are getting their moneys worth from this large tax expenditure. Despite a myriad of legislative changes, all of which combine to increase the likelihood that persons covered by pension plans will actually receive benefits, the U.S. pension system is still a very erratic and unpredictable way to provide retirement income and it benefits a relatively privileged subset of ...
Working Paper
What is the impact of pensions on saving?
The enormous growth in both Social Security and private pension plans has stimulated much interest in the impact of these retirement programs on individual saving behavior and the level of national saving. The first issue is the extent to which employees covered by pension plans reduce their own direct saving in response to expected retirement benefits; the response of individuals to guaranteed retirement income will determine, to a large extent, their well-being in retirement. For a nation concerned about saving and capital formation, the second issue is the impact of collectivized ...