Social security is at present the focus of an important economic and political debate. Is the combination of high taxes and high benefits distorting economic incentives? Can the social security systems of the welfare state sustain the increasing share of pensioners in the population? In this volume, a group of prominent economists offer a series of articles that take a look at the future of social security in the 21st Century.

1. Editora s preface: B. Holmlund, A. Sandmo and E. Steigem. 2. Economic and social security in the twenty--first century with attention to Europe: J. Dreze. 3. Social security reform and national wealth: J. Laitner. 4. Adverse selection in the annuities market and the impact of privatizing social security: J. Walliser. 5. The financial stability of notional account pensions: S. Valdes--Prieto. 6. Pension reform during the demographic transition: H. Fehr. 7. The welfare state, budgetary pressure and labour market shifts: A.B. Atkinson. 8. Unskilled migration: a burden or a boon for the welfare state? A. Razin and E. Sadka. 9. Early retirement and economic incentives: E. Hernoes, M. Sollie, Marte and S. Strom. 10. The political economy of social security: G. Casamatta, H. Cremer and P. Pestieau. 11. A positive theory of social security: G. Tabellini.

Includes bibliographical references.