Author: M. Edith RasellPublisher:
ISBN:
Category : Social security
Languages : en
Pages : 16
Book Description
The Feldstein-Samwick "two Percent Solution"
Author: M. Edith RasellPublisher:
ISBN:
Category : Social security
Languages : en
Pages : 16
Book Description
Tax Policy and the Economy
Author: James M. PoterbaPublisher: MIT Press
ISBN: 9780262661225
Category : Business & Economics
Languages : en
Pages : 216
Book Description
Based on a National Bureau of Economic Research conference, Tax Policy and the Economy is a timely review of issues in the current tax debate. Focusing on the economic effects of tax policies, written in a nontechnical style accessible to policymakers, corporate managers, lawyers and economists, each article demonstrates how economic research can make an important contribution to tax policy debates.
Why Funding is Not a Solution to the "Social Security Crisis"
Author: Friedrich BreyerPublisher:
ISBN:
Category : Pension trusts
Languages : en
Pages : 20
Book Description
Old and New Perspectives on Mortality Forecasting
Author: Tommy BengtssonPublisher: Springer
ISBN: 3030050750
Category : Social Science
Languages : en
Pages : 349
Book Description
This open access book describes methods of mortality forecasting and discusses possible improvements. It contains a selection of previously unpublished and published papers, which together provide a state-of-the-art overview of statistical approaches as well as behavioural and biological perspectives. The different parts of the book provide discussions of current practice, probabilistic forecasting, the linearity in the increase of life expectancy, causes of death, and the role of cohort factors. The key question in the book is whether it is possible to project future mortality accurately, and if so, what is the best approach. This makes the book a valuable read to demographers, pension planners, actuaries, and all those interested and/or working in modelling and forecasting mortality.
Rethinking Pension Reform
Author: Franco ModiglianiPublisher: Cambridge University Press
ISBN: 9780521834117
Category : Business & Economics
Languages : en
Pages : 282
Book Description
This book is unique as it presents an academic and a practical aspect on managing pension funds to clarify the global debate on social security. The authors establish the basic choices in designating any system to help policy makers develop the system that achieves their many objectives. The success of reforms depends on financial innovation to mitigate key risks and some innovations are discussed, which also demonstrates how pension reform choices affect the achievement of retirement objectives. Finally, the authors examine some proposed hybrid options to show how the beneficial features of these hybrids can be captured through good design in a single fund.
Working Paper Series
Author: Risk Aspects of Investment-Based Social Security Reform
Author: John Y. CampbellPublisher: University of Chicago Press
ISBN: 0226092569
Category : Political Science
Languages : en
Pages : 509
Book Description
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 assets—are the focus of this offering from the NBER. Exploring the issues involved in measuring risk and developing models to reflect the risks of various investment-based systems, economists evaluate the magnitude of the risks that both retirees and taxpayers would assume. The insights that emerge show that the risk is actually moderate relative to the improved return, as well as being balanced by the ability of an investment-based system to adapt to differences in individual preferences and conditions.
Accumulated Pension Collars
Author: Martin S. FeldsteinPublisher:
ISBN:
Category : Retirement income
Languages : en
Pages : 34
Book Description
This paper shows how a new type of derivative product that could be provided by private financial markets could in principle be used to guarantee that an investment-based Social Security reform provides at least the level of real retirement income that is projected in current Social Security rules. In effect, future retirees could purchase a put option' that guarantees that the future retirement benefit will not fall below the level projected in current Social Security law or some other chosen level. To pay for this guarantee, they would agree to give up the part of the annuity payments which exceeds a given level, effectively selling a call option on the stream of payments. This market-based approach could be completely voluntary, leaving each individual to decide what level of guarantee he wants. The higher the minimum guarantee that the individual chooses, the more of the potentially higher returns he must give up. The financial market can thus tailor each individual's product to his own risk preferences. Alternatively, the government might require that any product that is sold as part of the investment-based Social Security reform must include at least some such market-based guarantee. Our analysis calculates some of the tradeoffs that could be provided in today's financial markets. We show that it is feasible to protect future benefits equal to those projected in current law with a combination of the current payroll tax rate and Personal Retirement Account savings equal to 2.5 percent of covered earnings. Raising the savings rate to 3.0 percent increases substantially the amount of the return that the individual can keep, raising it to 145 percent of the currently projected level of benefits. Reducing the guarantee level to 90 percent of the projected future benefits would increase this upside potential to 150 percent of the currently projected level of benefits with a 2.5 percent saving rate and 195 percent of the currently projected benefits with a 3.0 percent saving rate.
Rare (Association of European Networking Organizations)
Author: Publisher: DIANE Publishing
ISBN: 9780788100383
Category :
Languages : en
Pages : 118
Book Description
How Big Should Our Government Be?
Author: Jon BakijaPublisher: Univ of California Press
ISBN: 0520962818
Category : Political Science
Languages : en
Pages : 219
Book Description
The size of government is arguably the most controversial discussion in United States politics, and this issue won't fade from prominence any time soon. There must surely be a tipping point beyond which more government taxing and spending harms the economy, but where is that point? In this accessible book, best-selling authors Jeff Madrick, Jon Bakija, Lane Kenworthy, and Peter Lindert try to answer whether our government can grow any larger and examine how we can optimize growth and fair distribution.