Social security and private saving: theory and historical evidence

This article is a nontechnical presentation of the debate that has gone on during the past decade over whether the U.S. social security system has depressed private saving in the economy. The heart of the article is an assessment of economist Martin Feldstein's original evidence, presentation of the alternative evidence that concluded that currently available historical data do not support the proposition that social security reduces private saving, and an evaluation of the contradictory evidence presented by Feldstein in response to the alternative evidence. The article concludes that, although the total body of evidence is inconclusive, the historical evidence fails to support the hypothesis that social security has reduced private saving. The Office of Research, Statistics, and International Policy, as part of its ongoing research mission, investigates the interrelationship between social security and the economy. This article presents an examination of one of several aspects of this relationship relevant to public policy considerations and is intended to make previously published technical papers available to a broader audience.     

Running against the status quo: Institutions for direct democracy referenda and allocations over time

Stylized institutions for direct democracy referenda are examined in a dynamic full information environment with myopic voters. Competitive-agenda (median-voter) processes are contrasted with monopolistic (controlled-agenda) processes by extending existing static analyses to a class of dynamic institutions not previously characterized, the status quo reversion rule. This highlights the dependence of the progression of real equilibrium allocations over time on institutional structure. By delineating the restrictions implied by each institutional form the model explains some persistent empirical regularities. In particular, a strict ceteris paribus ordering of the magnitudes of budgets by institutional form is derived for a wide portion of the parameter space.     

The role of coloured papers

Abstract. White, green and other coloured papers have been used by the government of Canada as a means of providing information on public policy and involving parliamentarians and interested groups and individuals in debates on policy issues. They have also been used as a basis for consultation with provincial governments. Although the government has issued papers on a wide variety of subjects over the years, no systematic procedures respecting their use as a policy technique have been established. Nevertheless, these papers have the potential of strengthening the role of Parliament in policy-making activities through debate and public discussion of issues. Some basic measures could be implemented to establish their regular application in policy formulation and review. Sommaire. Le gouvernement du Canada s'est servi de livres blancs, verts et d'autres couleurs pour fournir des renseignements sur les politiques publiques et pour faire participer parlementaires, groupes divers et individus à des débats sur des questions de poJitique générale. Il les a aussi utilisés comme base de discussion lors de consultations avec les gouvernements provinciaux. Le gouvemement a ainsi publié des “livres” sur toutes sortes de sujets au cours des années, mais n'a pas établi de procédures systématiques pour les utiliser en tant que techniques de prise de décision. Néanmoins, ces “livres” peuvent renforcer le rôle du Parlement dans la détermination des politiques, par le truchement du débat et de la discussion publique. Il devrait donc être possible d'adopter certaines mesures pour assurer leur usage régulier dans la formulation et l'examen des politiques.     

The psychodynamics of the presidential assassin and an examination of the theme/graphic variables of his threatening correspondence

A case of fatal Reye's syndrome presenting as the second sudden infant death in a family is described. The increasing interest in fatty change in the liver in cases of sudden infant death syndrome is noted and it is suggested that standardised interpretation of findings is essential if its significance is to be correctly evaluated.