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Risk aspects of investment-based social security reform

Author: Campbell, John Y. ; Feldstein, Martin Corporate author: National Bureau of Economic Research Series: National Bureau of Economic Research conference report Publisher: University of Chicago Press, 2001.Language: EnglishDescription: 496 p. ; 24 cm.ISBN: 0226092550Type of document: BookBibliography/Index: Includes bibliographical references and index
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Item type Current location Collection Call number Status Date due Barcode Item holds
Book Europe Campus
Main Collection
Print HD3616.33 .U7 R57 2001
(Browse shelf)
Available 001191364
Total holds: 0

Includes bibliographical references and index


Risk Aspects of Investment-Based Social Security Reform Contents Preface Introduction John Y. Campbell and Martin Feldstein 1. Asset Allocation and Risk Allocation: Can Social Security Improve Its Future Solvency Problem by Investing in Private Securities? Thomas E. MaCurdy and John B. Shoven Comment: Stephen P. Zeldes Discussion Summary ix 1 11 2. The Transition to Investment-Based Social Security When Portfolio Returns and Capital Profitability Are Uncertain 41 Martin Feldstein, Elena Ranguelova, and Andrew Samwick Comment: Robert J. Shiller Discussion Summary The Effect of Pay-When-Needed Benefit Guarantees on the Impact of Social Security Privatization 91 Kent Smetters Comment: David W Wilcox Discussion Summary Can Market and Voting Institutions Generate Optimal Intergenerational Risk Sharing? Antonio Rangel and Richard Zeckhauser Comment: Thomas J. Sargent Discussion Summary 113 3. 4. viii 5. Contents The Social Security Trust Fund, the Riskless Interest Rate, and Capital Accumulation Andrew B. Abel Comment: Deborah Lucas Discussion Summary 153 6. Social Security and Demographic Uncertainty: The Risk-Sharing Properties of Alternative Policies 203 Henning Bohn Comment: Kevin M. Murphy Discussion Summary The Risk of Social Security Benefit-Rule Changes: Some International Evidence 247 John McHale Comment: David A. Wise Discussion Summary Financial Engineering and Social Security Reform Zvi Bodie Comment: Stephen A. Ross Discussion Summary 291 7. 8. 9. 10. The Role of Real Annuities and Indexed Bonds in an Individual Accounts Retirement Program 321 Jeffrey R. Brown, Olivia S. Mitchell, and James M. Poterba Comment: Mark J. Warshawsky Discussion Summary The Role of International Investment in a Privatized Social Security System 371 Marianne Baxter and Robert G. King Comment: David Backus Discussion Summary Investing Retirement Wealth: A Life-Cycle Model 439 John Y. Campbell, João F. Cocco, Francisco J. Gomes, and Pascal J. Maenhout Comment: Amir Yaron Discussion Summary Contributors Author Index Subject Index 483 487 491 11.

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