Risk aspects of investment-based social security reform / edited by John Y. Campbell and Martin Feldstein.
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....
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Full Text (via ProQuest) |
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| Other Authors: | , |
| Format: | eBook |
| Language: | English |
| Published: |
Chicago :
University of Chicago Press,
2001.
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| Series: | Conference report (National Bureau of Economic Research)
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| Subjects: |
| Summary: | 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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| Item Description: | Papers presented at a NBER conference held in Islamorala, Florida, January, 1999. |
| Physical Description: | 1 online resource (xi, 496 pages) : illustrations. |
| Bibliography: | Includes bibliographical references and indexes. |
| ISBN: | 9780226092560 0226092569 1282004778 9781282004771 9786612004773 6612004770 |
| Language: | English. |
| Source of Description, Etc. Note: | Print version record. |