Panarchy provides a heuristic to characterize the cross-scale dynamics of social-ecological systems and a framework for how governance institutions should behave to be compatible with the ecosystems they manage. Managing for resilience will likely require reform of law to account for the dynamics of social-ecological systems and achieve a substantive mandate that accommodates the need for adapt...

Using a heterogeneous agent, life-cycle model of Social Security claiming, labor supply and saving, we consider the implications lifespan inequality for reform. Quantitative experiments show that welfare is maximized when baseline benefits are independent lifetime earnings, payroll tax cap 50% larger than its current level, claiming adjustments reduced. The system would maximize in “2050 demogr...

Population aging poses a challenge to the fiscal sustainability of social security systems around the world. As Baby-boomer generations approach retirement, governments have begun reforming key parameters of the social security systems. However, the behavioural and welfare impacts of many reforms are not well understood in part due to the di culty of isolating exogenous variation in program par...