Risk Aspects of Investment-Based Social Security Reform
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As the ratio of retirees to taxpayers increases, concern about the high cost of providing benefits in a pay-as-you-go system has led to economists offering alternatives, one of which involves the investment in stocks and bonds of a person's holdings. This work examines the risks of such systems.

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Produktbeschreibung
As the ratio of retirees to taxpayers increases, concern about the high cost of providing benefits in a pay-as-you-go system has led to economists offering alternatives, one of which involves the investment in stocks and bonds of a person's holdings. This work examines the risks of such systems.
Autorenporträt
John Y. Campbell is the Otto Eckstein Professor of Applied Economics at Harvard University and a research associate of the National Bureau of Economic Research. Martin Feldstein is the George F. Baker Professor of Economics at Harvard University and president and CEO of the National Bureau of Economic Research. He is the editor of many books, including Privatizing Social Security and International Capital Flows, also published by the University of Chicago Press.