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Transition to a Fully Funded Pension System: Five Economic Issues / Martin Feldstein.
- Format:
- Book
- Author/Creator:
- Feldstein, Martin.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w6149.
- NBER working paper series no. w6149
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Transition to a Fully Funded Pension System
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1997.
- Summary:
- This paper provides a relatively nontechnical discussion of the effects of shifting from a pay-as-you-go system of Social Security pensions to a fully funded plan based on individual accounts. The analysis discusses the rationale for such a shift and deals with five common problems: (1) the nature of the transition path; (2) the effect of the shift on national saving and capital accumulation; (3) the rate of return that such accounts would earn; (4) the risks of unfunded and funded systems; and (5) the distributional effects of the shift.
- Notes:
- Print version record
- August 1997.
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