NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Books - Risk Aspects of Investment-Based Social Security Reform



Risk Aspects of Investment-Based Social Security Reform
John Y. Campbell and Martin Feldstein, editors

The University of Chicago Press, 2001
Cloth: $69.00
ISBN: 0-226-09255-0

Table of Contents:

    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

    2. The Transition to Investment-Based Social Security When Portfolio Returns and Capital Profitability Are Uncertain
    Martin Feldstein, Elena Ranguelova and Andrew Samwick

      Comment: Robert J. Shiller

    Discussion summary

    3. The Effect of Pay-When-Needed Benefit Guarantees on the Impact of Social Security Privatization
    Kent Smetters

      Comment: David W. Wilcox

    Discussion summary

    4. Can Market and Voting Institutions Generate Optimal Intergenerational Risk Sharing?
    Antonio Rangel and Richard Zeckhauser

      Comment: Thomas J. Sargent

    Discussion summary

    5. The Social Security Trust Fund, the Riskless Interest Rate, and Capital Accumulation
    Andrew B. Abel

      Comment: Deborah Lucas

    Discussion summary

    6. Social Security and Demographic Uncertainty: The Risk-Sharing Properties of Alternative Policies
    Henning Bohn

      Comment: Kevin M. Murphy

    Discussion summary

    7. The Risk of Social Security Benefit-Rule Changes: Some International Evidence
    John McHale

      Comment: David A. Wise

    Discussion summary

    8. Financial Engineering and Social Security Reform
    Zvi Bodie

      Comment: Stephen A. Ross

    Discussion summary

    9. The Role of Real Annuities and Indexed Bonds in an Individual Accounts Retirement Program
    Jeffrey R. Brown, Olivia S. Mitchell and James M. Poterba

      Comment: Mark J. Warshawsky

    Discussion summary

    10. The Role of International Investment in a Privatized Social Security System
    Marianne Baxter and Robert G. King

      Comment: David Backus

    Discussion summary

    11. Investing Retirement Wealth: A Life-Cycle Model
    John Y. Campbell, João F. Cocco, Francisco J. Gomes and Pascal J. Maenhout

      Comment: Amir Yaron

    Discussion summary


 
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