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150128 ||| eng |
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|a 9781451853568
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| 100 |
1 |
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|a Leidy, Michael
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| 245 |
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0 |
|a Investing U.S. Social Security Trust Fund Assets in Private Securities
|c Michael Leidy
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 1997
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| 300 |
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|a 28 pages
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| 651 |
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4 |
|a United States
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| 653 |
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|a Sovereign bonds
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| 653 |
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|a Institutional Investors
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| 653 |
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|a Wealth
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| 653 |
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|a Stocks
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| 653 |
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|a Pension Funds
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| 653 |
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|a Budget Systems
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| 653 |
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|a Securities
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| 653 |
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|a Financial institutions
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| 653 |
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|a Saving
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| 653 |
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|a Financial Instruments
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| 653 |
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|a General Financial Markets: General (includes Measurement and Data)
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| 653 |
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|a Investments: Bonds
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| 653 |
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|a Budgeting
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| 653 |
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|a National accounts
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| 653 |
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|a Non-bank Financial Institutions
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| 653 |
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|a Consumption; Economics
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| 653 |
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|a Saving and investment
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| 653 |
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|a Financial instruments
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| 653 |
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|a Bonds
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| 653 |
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|a Investments: Stocks
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| 653 |
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|a Investments: General
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| 653 |
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|a Budget
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| 653 |
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|a Consumption
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Public financial management (PFM)
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| 653 |
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|a Macroeconomics: Consumption
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| 653 |
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|a Budgeting & financial management
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| 653 |
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|a National Budget
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| 653 |
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|a Extra-budgetary funds
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| 653 |
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|a Investment & securities
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| 653 |
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|a Private savings
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| 041 |
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7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
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|a 10.5089/9781451853568.001
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| 856 |
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|u https://elibrary.imf.org/view/journals/001/1997/112/001.1997.issue-112-en.xml?cid=2327-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a 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
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