Social Security Wealth System Effect on Final Consumption: Overlapping Generations Models Analysis for a Panel of Countries

Lambert Academic Publishing. ISBN 978-3-659-50583-6

69 Pages Posted: 9 Dec 2013

See all articles by Dushko Josheski

Dushko Josheski

University Goce Delcev

Darko Lazarov

University Goce Delcev

Date Written: December 7, 2013

Abstract

This book investigates the impact of the social security system on final consumption, with the overlapping generations model for Macedonia and panel of countries. As hypothesis we set that social security reduces savings. Our results show that in all our models the average growth of social contributions increases final consumption, thereby reducing savings. In the models presented in this book consumption is a function of available income, the change in disposable income, then the social contributions per income and social wealth which is a proxy variable for gross capital formation, i.e. total human wealth.

Keywords: social security wealth system, overlapping generations models

JEL Classification: E62

Suggested Citation

Josheski, Dushko and Lazarov, Darko, Social Security Wealth System Effect on Final Consumption: Overlapping Generations Models Analysis for a Panel of Countries (December 7, 2013). Lambert Academic Publishing. ISBN 978-3-659-50583-6 , Available at SSRN: https://ssrn.com/abstract=2364993

Dushko Josheski (Contact Author)

University Goce Delcev ( email )

Stip
Macedonia
+389 32 550 000 (Phone)
+389 32 390 700 (Fax)

HOME PAGE: http://www.ugd.edu.mk/

Darko Lazarov

University Goce Delcev ( email )

PO box 201
Stip, 2000
Macedonia
+389 550 317 (Phone)

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