The retirement world of the future is challenging because of the decline in defined benefit plans, low savings rates in the United States, increased longevity and the failure of many people to effectively plan for retirement. Drawing on a variety of studies and public opinion surveys, the authors of this article explain why a system that relies too much on people providing for themselves will h...

We test whether mortality is related to individual income, mean community income, and community income inequality, controlling for initial health status and personal characteristics. The analysis is based on a random sample from the adult Swedish population of over 40,000 individuals who were followed up for 10-17 years. We find that mortality decreases significantly as individual income increa...

experiment was conducted as split plot in a randomized complete block design with three replications in kermanshah to shed lights on economic analysis of deficit irrigation and integrated application of biological and chemical fertilizer son cultivation of medicinal plant borage (borago officinalis l). irrigation tritments include: a) 30% less water than crop requires invegetative, b) inreprodu...

"This paper analyzes the interaction between income distribution, human capital accumulation and migration. It shows that when migration is not a certainty, a brain drain may increase average productivity and equality in the source economy even though average productivity is a positive function of past average levels of human capital in an economy. It is also shown how the temporary possibility...

This paper examines the migration response to a millionaire tax in New Jersey, which raised its income tax rate on top earners by 2.6 percentage points to 8.97 percent, one of the highest tax rates in the country. Drawing on unique state tax micro-data, we estimate the migration response of millionaires to the rate increase, using a difference-in-differences estimation strategy. The results ind...

Europe and Japan are experiencing the aging of their populations. Aging implies a restructuring of the economy. Political issues which arise in an aging society include 1) a voting majority for the interests of the elderly, 2) a voting majority of females, 3) the domination of the decision power in corporate and similar ruling bodies, and 4) unemployment or a long wait for promotion for young...

The old age provisions of the Medicaid program were designed to insure poor retirees against medical expenses. However, it is the rich who are most likely to live long and face expensive medical conditions when very old. We estimate a rich structural model of savings and endogenous medical spending with heterogeneous agents, and use it to compute the distribution of lifetime Medicaid transfers ...

In this paper we characterize, both theoretically and quantiatively, the optimal mix of progressive income taxes and education subsidies in a model with endogeous human capital formation, borrowing constraints and income risk.

The last twenty years have seen a rapid growth in the expansion of consumer credit. Figures for the U.K, for example, show that in 1988 consumer credit represented just 50% of national income, compared with 70% in 2001. This paper looks at some of the issues that now need addressing following this expansion in credit, particularly how it may have affected families on low incomes. 1 Experian Cen...