| Abstract: |
In this paper the authors examine the scope of cross-country variation in
institutions related to social insurance. Building on the variation they find
they assess the value of new micro data that is comparable across countries to
help identify key parameters of individual behavior. They present multiple
aspects of labor force participation, including disability benefit receipt, as
well as wealth accumulation and relate the resulting patterns to variation in
institutions across countries. Finally, they study the relationship between
wealth accumulation and the generosity of public pensions in more detail. The
estimates imply that Social Security benefits displace private saving. |