In a study of a major Mexican reform to this policy, Hastings, Hortacsu, and Syverson explained high fees using a model of advertising to build brand loyalty and price insensitivity.
In a study of a major Mexican reform to this policy, Hastings, Hortacsu, and Syverson explained high fees using a model of advertising to build brand loyalty and price insensitivity. Auerbach and Kotlikoff proposed a principle for measuring the allocation of the tax burden across time under this policy, their "Generational Accounting." One argument in favor of this policy is based on the dynamic inefficiency of an OLG economy with income growing faster than the interest rate, according to a seminal 1965 model by Peter Diamond. High administrative overhead followed a Chilean reform to this policy based on a mandated 10% defined contribution and transition costs that massively increased the government debt-to-GDP ratio. For 10 points, name this public policy typically constructed as a pay-as-you-go public pension scheme funded by a payroll tax.
In a study of a major Mexican reform to this policy, Hastings, Hortacsu, and Syverson explained high fees using a model of advertising to build brand loyalty and price insensitivity.
social security [prompt on "public sector pensions" and variations]