Funding social security : a strategic alternative

목차 (Table of Contents)

• CONTENTS
• Acknowledgments = xi
• 1 Funding Social Security: An Introduction = 1
• Funding Social Security versus Alternative Fundamental Reforms = 10
• The Objective of This Book = 16
• 2. Funded versus PAYGO Social Security = 19
• A Defined-Benefit Annuity Plan with Inflation Protection and Partial Redistribution = 21
• The Yield on Social Security Saving = 25
• Feldstein's 1975 Article = 26
• Feldstein's 1996 Article = 29
• The Case for Raising the National Saving Rate = 31
• The Case for Raising the Yield on Social Security Saving = 33
• Fund Accumulation versus Portfolio Diversification = 34
• The Yield on Stocks, Bonds, and Corporate Capital over the Long Run = 37
• Caution Concerning the Stock Market = 43
• Funded Social Security and the Financing Mix = 44
• The Importance of Excluding Social Security from Official Budget Repots = 45
• The Feasibility of Managing a Social Security Portfolio = 48
• Protecting the Social Security Fund from a Raid = 55
• The Transition = 57
• Criticisms of Funded Social Security by PAYGO Advocates = 64
• Appendix 2A: The Yield on PAYGO Social Security = 67
• Appendix 2B: An Example of Funded versus PAYGO Social Security = 69
• Appendix 2C: Social Security in Two-Period Life-Cycle Growth Model = 73
• 3 Funded versus Privatized Social Security = 83
• Ferrara's Case for Privatization = 85
• Feldstein's 1998 Article = 89
• The PSA Plan of Five Members of the Advisory Council on Social Security = 92
• Criticisms of the PSA Plan = 93
• The Problem of Voluntary Annuities = 95
• The Risk for Elderly Widows = 96
• The Kotlikoff-Sachs Privatization Plan = 97
• The PSA Advocates' Opposition to Funded ?Social Security = 99
• The World Bank Report = 103
• Would Privatization Eventually Lead to the Termination of Social Security? = 108
• Distortion of Labor Supply = 109
• Can Workers Manage Their Own Individual Accounts? = 112
• Nine Basic Principles for Social Security = 117
• 4 Funded versus PAYGO Social Security with Individual Accounts = 123
• Publicly Held Individual Accounts = 125
• Criticisms of the Individual Accounts Plan = 131
• Recent Proposals for Supplemental Individual Account = 138
• Would Supplemental Individual Accounts Lead to Privatiztion? = 145
• 5 Funded versus Means-Tested Social Security = 147
• The Case for Means Testing Social Security = 149
• The Case against Means Testing Social Security = 152
• 6 Questions and Answers = 159
• References = 179
• Index = 185