Social Security and Equilibrium Capital Intensity

Abstract

I. The theory of social security and life cycle savings, 234.—II. Social security and the steady state capital stock in a life cycle economy, 237.—III. Partial equilibrium effect, 239.—IV. General equilibrium changes in capital intensity, 241.—V. Alternative specifications and some macro issues, 247.—VI. Summary and conclusion, 248.—Appendix A, 249.—Appendix B, 251.