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Taxation, Incomplete Markets, and Social Security : Munich Lectures in Economics - Peter A. Diamond

Taxation, Incomplete Markets, and Social Security

Munich Lectures in Economics

Paperback Published: 14th January 2005
ISBN: 9780262541824
Number Of Pages: 216
For Ages: 18+ years old

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Winner of the 2003 Paul A. Samuelson Award for Outstanding Scholarly Writing on Lifelong Financial Security presented by the TIAA-CREF Institute In this book, Peter Diamond analyzes social security as a particular example of optimal taxation theory. Assuming a world of incomplete markets and asymmetric information, he uses a variety of simple models to illuminate the economic forces that bear on specific social security policy issues. The focus is on the degree of progressivity desirable in social security and the design of incentives to delay retirement beyond the earliest age of eligibility for benefits. Before analyzing these models, Diamond presents introductions to optimal income tax theory and the theory of incomplete markets. He incorporates recent theoretical developments such as time-inconsistent preferences into his analyses and shows that distorting taxes and a measure of progressivity in benefits are desirable. Diamond also discusses social security reform, with a focus on Germany.

"Peter Diamond is one of the world's premier economists. This pathbreaking book extends the traditional theory of optimal taxation to multi-period models. But it also considers how optimal tax rules/formulas need to be modified if agents are myopic, borrowing constrained, or time inconsistent. Diamond's findings will change how we think about and design public policy toward retirement saving and life-cycle labor supply." - Laurence J. Kotlikoff, Department of Economics, Boston University"

ISBN: 9780262541824
ISBN-10: 0262541823
Series: Munich Lectures in Economics
Audience: Professional
For Ages: 18+ years old
Format: Paperback
Language: English
Number Of Pages: 216
Published: 14th January 2005
Publisher: MIT Press Ltd
Country of Publication: US
Dimensions (cm): 19.68 x 13.34  x 1.27
Weight (kg): 0.18