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Social Security Design in the UK: What is optimal?
Author(s) -
Miles David,
Sefton James
Publication year - 2003
Publication title -
fiscal studies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.63
H-Index - 40
eISSN - 1475-5890
pISSN - 0143-5671
DOI - 10.1111/j.1475-5890.2003.tb00080.x
Subject(s) - social security , economics , government (linguistics) , pension , simple (philosophy) , income distribution , distribution (mathematics) , public economics , happening , labour supply , microeconomics , labour economics , finance , market economy , art , mathematical analysis , linguistics , philosophy , mathematics , epistemology , performance art , inequality , art history
This paper uses a simple model of how households at different points on the income distribution make decisions about saving and labour supply to illustrate some of the problems government faces in designing social security systems. We show simulation results, which highlight the costs and benefits of alternative pension and income support regimes, and analyse what is happening in the UK in the light of the results.