The Social Security System, the Provision of Human Capital, and the Structure of Compensation
研究当前社会保障体系如何影响追求财富最大化的工人所选择的薪酬结构，发现福利确定方式鼓励向上倾斜的工资曲线，并改变工资与养老金支付的组合，同时代际转移改变了人力资本投资水平，从而减少经济中的收入差距。
In this paper the author examines the effect of the current social security system on the structure of compensation that a wealth- maximizing worker selects. It is shown that the current method of benef it determination encourages an upward-sloping wage profile and that the social security system alters the mix of wage and pension payments. In addition, the intragenerational transfers of the social security system alter the level of investment in human capital. As a result, the social security system reduces the disparity of income within the economy. Copyright 1987 by University of Chicago Press.