| Document Type
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BL
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| Record Number
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876060
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| Title & Author
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Risk aspects of investment-based social security reform /\ edited by John Y. Campbell and Martin Feldstein.
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| Publication Statement
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Chicago :: University of Chicago Press,, 2001.
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| Series Statement
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National Bureau of Economic Research conference report
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| Page. NO
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1 online resource (xi, 496 pages) :: illustrations
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| ISBN
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0226092569
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: 1282004778
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: 6612004770
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: 9780226092560
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: 9781282004771
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: 9786612004773
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0226092550
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9780226092553
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| Notes
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Papers presented at a NBER conference held in Islamorala, Florida, January, 1999.
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| Bibliographies/Indexes
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Includes bibliographical references and indexes.
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| Contents
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Asset allocation and risk allocation: can Social Security improve its future solvency problem by investing in private securities? -- The transition to investment-based social security when portfolio returns and capital profitability are uncertain -- The effect of pay-when-needed benefit guarantees on the impact of Social Security privatization -- Can market and voting institutions generate optimal intergenerational risk sharing? -- The Social Security Trust Fund, the riskless interest rate, and capital accumulation -- Social Security and demographic uncertainty: the risk-sharing properties of alternative policies -- The risk of Social Security benefit-rule changes: some international evidence -- Financial engineering and Social Security reform -- The role of real annuities and indexed bonds in an individual accounts retirement program -- The role of international investment in a privatized social security system -- Investing retirement wealth: a life-cycle model.
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| Abstract
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Our current social security system operates on a pay-as-you-go basis; benefits are paid almost entirely out of current revenues. As the ratio of retirees to taxpayers increases, concern about the high costs of providing benefits in a pay-as-you-go system has led economists to explore other options. One involves "prefunding," in which a person's withholdings are invested in financial instruments, such as stocks and bonds, the eventual returns from which would fund his or her retirement. The risks such a system would introduce--such as the volatility in the market prices of investment a.
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Privatization-- United States, Congresses.
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Social security-- United States, Congresses.
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Social security-- United States-- Finance, Congresses.
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Privatisation-- États-Unis, Congrès.
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Sécurité sociale-- États-Unis, Congrès.
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Sécurité sociale-- États-Unis-- Finances, Congrès.
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POLITICAL SCIENCE-- Public Policy-- Social Security.
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Privatization.
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Social security-- Finance.
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Social security.
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Hervormingen.
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Investeringen.
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Pensioen.
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Privatisering.
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Risicoanalyse.
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Sociale zekerheid.
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United States.
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| Dewey Classification
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368.4/3/00973
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| LC Classification
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HD7125.R57 2001eb
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| Added Entry
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Campbell, John Y.
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Feldstein, Martin S.
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