Social security investment in equities

American Economic Review

Volumn 93, Issue 4, 2003, Pages 1047-1074

  Diamond, Peter ^a   Geanakoplos, John ^b  

^a MASSACHUSETTS INSTITUTE OF TECHNOLOGY   (United States)

^b YALE UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 3042529885     PISSN: 00028282     EISSN: None     Source Type: Journal    
DOI: 10.1257/000282803769206197     Document Type: Article

References (22)

1. Abel, Andrew B. "The Effects of Investing Social Security Funds in the Stock Market When Fixed Costs Prevent Some Households from Holding Stocks." American Economic Review, March 2001, 91(1), pp. 128-48.
2. Advisory Council on Social Security. Report of the 1994-1996 Advisory Council on Social Security, Washington, DC, 1997.
3. Ameriks, John and Zeldes, Stephen P. "How Do Household Portfolio Shares Vary with Age?" Columbia University working paper, 2001.
4. Aura, Saku; Diamond, Peter and Geanakoplos, John. "Savings and Portfolio Choice in a Two-Period Two-Asset Model." American Economic Review, September 2002, 92(4), pp. 1185-91.
5. Bohn, Henning. "Risk Sharing in a Stochastic Overlapping Generations Economy." Unpublished manuscript, University of California-Santa Barbara, 1997a.
6. _. "Social Security Reform and Financial Markets," in Steven A. Sass and Robert K. Triest, eds., Social security reform: Conference proceedings: Links to saving, investment, and growth. Conference Series, No. 41. Boston, MA: Federal Reserve Bank of Boston, 1997b, pp. 193-227.
7. _. "Should the Social Security Trust Fund Hold Equities? An Intergenerational Welfare Analysis." Review of Economic Dynamics, July 1999, 2(3), pp. 666-97.
8. Diamond, Peter. "Macroeconomic Aspects of Social Security Reform." Brookings Papers on Economic Activity, 1997, (2), pp. 1-66.
9. _, ed. Issues in privatizing social security. Cambridge, MA: MIT Press, 1999.
10. Diamond, Peter and Yaari, Menahem. "Implications of the Theory of Rationing for Consumer Choice under Uncertainty." American Economic Review, June 1972, 62(3), pp. 333-43.
11. Feldstein, Martin. "The Optimal Level of Social Security Benefits." Quarterly Journal of Economics, May 1985, 100(2), pp. 303-20.
12. Financial Economists' Roundtable. "Statement on Social Security." Unpublished manuscript, 1998.
13. Fischer, Stanley. "Assets, Contingent Commodities, and the Slutsky Equations." Econometrica, March 1972, 40(2), pp. 371-85.
14. Geanakoplos, John; Mitchell, Olivia S. and Zeldes, Stephen P. "Would a Privatized Social Security System Really Pay a Higher Rate of Return?" in R. Douglas Arnold, Michael Graetz, and Alicia H. Munnell, eds., Framing the social security debate. M. Washington, DC: National Academy of Social Insurance, Brookings Institution Press, 1998, pp. 137-56.
15. _. "Social Security Money's Worth," in Olivia S. Mitchell, Robert Myers, and Howard Young, eds., Prospects for social security reform. Philadelphia, PA: University of Pennsylvania Press, 1999, pp. 79-151.
16. Greenspan, Alan. Testimony before the Task Force on Social Security of the Committee on the Budget, U.S. Senate, November 20, 1997.
17. Kennickell, Arthur; Starr-McCluer, Martha and Sunden, Annika E. "Family Finances in the U.S.: Recent Evidence from the Survey of Consumer Finances." Federal Reserve Bulletin, January 1997, 85(1), pp. 1-24.
18. Mitchell, Olivia S. and Moore, James F. "Retirement Wealth Accumulation and Decumulation: New Developments and Outstanding Opportunities." Working Paper No. 97-12, The Wharton School, University of Pennsylvania, 1997.
19. Munnell, Alicia H. and Balduzzi, Pierluigi. "Investing the Trust Fund in Equities." Unpublished manuscript, Boston College, 1998.
20. Pestieau, Pierre and Possen, Uri M. "Investing Social Security in the Equity Market. Does it Make a Difference?" Unpublished manuscript, University of Liege, 1999.
21. Smetters, Kent. "Investing the Social Security Trust Fund in Equity: An Options Pricing Approach." Technical Paper 1997-1, Congressional Budget Office, Macroeconomic Analysis and Tax Analysis Divisions, Washington, DC, 1997.
22. Social Security Administration. Annual statistical supplement to the 'Social Security Bulletin. Washington, DC: U.S. Government Printing Office, 1996.