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: |
MARC
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| 245 | 0 | 0 | |a Risk aspects of investment-based social security reform / |c edited by John Y. Campbell and Martin Feldstein. |
| 260 | |a Chicago : |b University of Chicago Press, |c 2001. | ||
| 300 | |a 1 online resource (xi, 496 pages) : |b illustrations. | ||
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| 490 | 1 | |a National Bureau of Economic Research conference report. | |
| 500 | |a Papers presented at a NBER conference held in Islamorala, Florida, January, 1999. | ||
| 504 | |a Includes bibliographical references and indexes. | ||
| 505 | 0 | |a 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. | |
| 520 | |a 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. | ||
| 546 | |a English. | ||
| 588 | 0 | |a Print version record. | |
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| 650 | 0 | |a Social security |z United States |v Congresses. | |
| 650 | 0 | |a Privatization |z United States |v Congresses. | |
| 650 | 7 | |a Privatization. |2 fast |0 (OCoLC)fst01077649. | |
| 650 | 7 | |a Social security. |2 fast |0 (OCoLC)fst01123077. | |
| 650 | 7 | |a Social security |x Finance. |2 fast |0 (OCoLC)fst01123106. | |
| 651 | 7 | |a United States. |2 fast |0 (OCoLC)fst01204155. | |
| 655 | 7 | |a Conference papers and proceedings. |2 fast |0 (OCoLC)fst01423772. | |
| 700 | 1 | |a Campbell, John Y. | |
| 700 | 1 | |a Feldstein, Martin S. | |
| 776 | 0 | 8 | |i Print version: |t Risk aspects of investment-based social security reform. |d Chicago : University of Chicago Press, 2001 |z 0226092550 |z 9780226092553 |w (DLC) 00041798 |w (OCoLC)44131792. |
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