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Risk Aspects of Investment-Based Social Security Reform

John Y. Campbell and Martin Feldstein (eds)

Published in print:
2000
Published Online:
February 2013
ISBN:
9780226092553
eISBN:
9780226092560
Item type:
book
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226092560.001.0001
Subject:
Economics and Finance, Economic Systems

The United States' 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, ... More


Introduction

John Y. Campbell and Martin Feldstein

in Risk Aspects of Investment-Based Social Security Reform

Published in print:
2000
Published Online:
February 2013
ISBN:
9780226092553
eISBN:
9780226092560
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226092560.003.0001
Subject:
Economics and Finance, Economic Systems

The increasing life expectancy in the United States and in other industrial countries is creating a major problem for traditional unfunded social security pension programs. In such pay-as-you-go ... More


The Transition to Investment-Based Social Security When Portfolio Returns and Capital Profitability Are Uncertain

Martin Feldstein, Elena Ranguelova, and Andrew Samwick

in Risk Aspects of Investment-Based Social Security Reform

Published in print:
2000
Published Online:
February 2013
ISBN:
9780226092553
eISBN:
9780226092560
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226092560.003.0003
Subject:
Economics and Finance, Economic Systems

This chapter explores the transition from a pay-as-you-go system of social security pensions to an investment-based system in an economy in which portfolio returns and capital profitability are both ... More


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