Risk aspects of investment-based social security reform [electronic resource] / edited by John Y. Campbell and Martin Feldstein.
Material type: TextLanguage: English Series: Conference report (National Bureau of Economic Research)Publication details: Chicago : University of Chicago Press, 2001.Description: 1 online resource (xi, 496 p.) : illISBN:- 9780226092560 (electronic bk.)
- 0226092569 (electronic bk.)
- Social security -- United States -- Finance -- Congresses
- Social security -- United States -- Congresses
- Privatization -- United States -- Congresses
- Privatization
- Social security
- Sécurité sociale -- États-Unis -- Finances -- Congrès
- Sécurité sociale -- États-Unis -- Congrès
- Privatisation -- États-Unis -- Congrès
- POLITICAL SCIENCE -- Public Policy -- Social Security
- Sociale zekerheid
- Hervormingen
- Privatisering
- Investeringen
- Risicoanalyse
- Pensioen
- სოციალური უზრუნველყოფა აშშ კონფერენციები
- 368.4/3/00973 22
- HD7125 .R57 2001eb
Item type | Current library | Call number | Status | Date due | Barcode | |
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ელ.რესურსი | ეროვნული სამეცნიერო ბიბლიოთეკა 1 | 36(73)(063) (Browse shelf(Opens below)) | Available |
Papers presented at a NBER conference held in Islamorala, Florida, January, 1999.
Includes bibliographical references and indexes.
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.
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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