| Description |
1 online resource (xi, 496 pages) : illustrations |
| Series |
National Bureau of Economic Research conference report |
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Conference report (National Bureau of Economic Research)
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| Contents |
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 |
| 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 |
| Notes |
Papers presented at a NBER conference held in Islamorala, Florida, January, 1999 |
| Bibliography |
Includes bibliographical references and indexes |
| Notes |
English |
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Print version record |
| Subject |
Social security -- United States -- Finance -- Congresses
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Social security -- United States -- Congresses
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Privatization -- United States -- Congresses
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POLITICAL SCIENCE -- Public Policy -- Social Security.
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Privatization
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Social security
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Social security -- Finance
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Sociale zekerheid.
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Hervormingen.
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Privatisering.
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Investeringen.
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Risicoanalyse.
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Pensioen.
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United States
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| Genre/Form |
Electronic books
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proceedings (reports)
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Conference papers and proceedings
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Conference papers and proceedings.
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Actes de congrès.
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| Form |
Electronic book
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| Author |
Campbell, John Y.
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Feldstein, Martin S.
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| ISBN |
9780226092560 |
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0226092569 |
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1282004778 |
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9781282004771 |
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9786612004773 |
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6612004770 |
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