The political economy of public savings and the role of capital mobility

Article Abstract:

Public saving and investment may become scarce in economies where there is a competition for scanty public funds due to a collective action problem among numerous political groups. Moreover, in the absence of a strong focal point, a bias towards opportunism and very low investment rates and savings would be imminent. Furthermore, access to borrowing and current tax income would determine current spending if this problem is not addressed. However, mitigating factors such as elections, which can be used as a monitoring mechanism in democratic countries, can help solve this problem.

Gross Private Savings, Government Capital Consump Allowances, Economics, Political aspects, Capital movements

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Discount rate heterogeneity and social security reform

Article Abstract:

A life-cycle model of consumption was utilized using data from the Survey of Consumer Finances of 1992 to assess the distribution of rates of time preference of wealth. Reforms in existing Social Security services are deemed to be beneficial in light of the inefficiencies of financial systems and dishonest practices of fiscal agencies. Results show that an 84% buy out of payroll taxes can be induced through reform proposals and lead to depletion of national savings of not more than 0.25 percentage points.

Public Finance Activities, Fiscal Policy, Administration of Human Resource Programs (except Education, Public Health, and Veterans' Affairs Programs), Social Security, Management, Economic aspects, Consumption (Economics)

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