Optimal Design of Means Tested Retirement Benefits
Bibliographic Data
| ID | 9707400 |
|---|---|
| Authors | James Sefton (0000-0003-2504-7211, National Institute of Economic and Social Research), Justin Van De Ven (0000-0003-4965-0218, NIESR) |
| Year | 2009 |
| Volume | 119 |
| Issue | 541 |
| Pages | F461-F481 |
| Publication date | 2009-11-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/j.1468-0297.2009.02316.x |
| OpenAlex | W2000844844 |
| Language | EN |
| Citations received | 2 |
| References cited | 27 |
Design of welfare benefits is a tricky business. In this regard, James Meade believed that it is important to avoid excessive distortions to the price of labour. He also recognised that means testing is a useful way of limiting the 'hideously expensive' cost of universal benefits provision; he conjectured that a 50% claw-back rate might be appropriate. We use a rational agent model to explore the welfare effects of alternative retirement benefits arrangements in the UK. Our analysis supports an extensive role for means testing, consistent with Meade's conjecture, and highlights the distortions associated with alternative methods of benefits financing. Copyright © The Author(s). Journal compilation © Royal Economic Society 2009
Actuarial science · Cost–benefit analysis · Economics · Limiting · Market economy · Microeconomics · Political science · Public economics · Welfare · Engineering · Financial Literacy, Pension, Retirement Analysis · Fiscal Policy and Economic Growth · Gender, Labor, and Family Dynamics
Welfare, Incentives, and Taxation
The Effects of Health, Wealth, and Wages on Labour Supply and Retirement Behaviour
Redistributive taxation as social insurance
The design of tax structure
Saving and Uncertainty
An Exploration in the Theory of Optimum Income Taxation
The analysis of household surveys
The Effects of Male and Female Labor Supply on Commodity Demands
Consumer Durables and the Real Interest Rate
The Case for a Participation Income
Intertemporal Substitution in Consumption
Means Testing Retirement Benefits
Labour Income Uncertainty, Taxation and Public Good Provision
Cheating Ourselves
| Unique citing works | 2 |
|---|---|
| Citations per year | 0,14 |
| Citation span | 2012 - 2025 (14) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 2 |