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Investing U.S. Social Security Trust Fund Assets in Private Securities

This paper examines the macroeconomic and distributional consequences of a policy change, other things being equal, that would allow U.S. Social Security trust fund assets to be invested in private securities. Improving the expected return to trust fund assets, by shifting these from government bond...

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Bibliographic Details
Main Author: Leidy, Michael
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1997
Series:IMF Working Papers
Subjects:
Sovereign Bonds
Institutional Investors
Wealth
Stocks
Pension Funds
Budget Systems
Securities
Financial Institutions
Saving
Financial Instruments
General Financial Markets: General (includes Measurement And Data)
Investments: Bonds
Budgeting
National Accounts
Non-bank Financial Institutions
Consumption; Economics
Saving And Investment
Bonds
Investments: Stocks
Investments: General
Budget
Consumption
Macroeconomics
Public Financial Management (pfm)
Macroeconomics: Consumption
Budgeting & Financial Management
National Budget
Extra-budgetary Funds
Investment & Securities
Private Savings
United States
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper examines the macroeconomic and distributional consequences of a policy change, other things being equal, that would allow U.S. Social Security trust fund assets to be invested in private securities. Improving the expected return to trust fund assets, by shifting these from government bonds to private securities, tends to reduce (increase) the future claim on national output of the current (future) working population. The effects on aggregate saving and future output depend on whether current workers interpret this policy change as affecting their future Social Security benefits
Physical Description:28 pages
ISBN:9781451853568

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