عنوان

Risk aspects of investment-based social security reform /

0226092569

1282004778

6612004770

9780226092560

9781282004771

9786612004773

0226092550

9780226092553

Risk aspects of investment-based social security reform /

[Book]

edited by John Y. Campbell and Martin Feldstein.

Chicago :

University of Chicago Press,

2001.

1 online resource (xi, 496 pages) :

illustrations

National Bureau of Economic Research conference report

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.

0

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.

Risk aspects of investment-based social security reform.

9780226092553

Privatization-- United States, Congresses.

Social security-- United States-- Finance, Congresses.

Social security-- United States, Congresses.

Privatisation-- États-Unis, Congrès.

Sécurité sociale-- États-Unis-- Finances, Congrès.

Sécurité sociale-- États-Unis, Congrès.

Hervormingen.

Investeringen.

Pensioen.

POLITICAL SCIENCE-- Public Policy-- Social Security.

Privatisering.

Privatization.

Risicoanalyse.

Social security-- Finance.

Social security.

Sociale zekerheid.

United States.

7

POL-- 027000

Campbell, John Y.

Feldstein, Martin S.

20200822101929.0

pn

[Book]

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