IDEAS home Printed from https://ideas.repec.org/p/ysm/somwrk/ysm449.html
   My bibliography  Save this paper

More Social Security, Not Less

Author

Listed:
  • William Goetzmann

Abstract

This paper explores the feasibility of a government-sponsored insurance company, patterned after the government-sponsored mortgage agencies, that would be authorized to sell government-insured wage-indexed retirement annuities. This enterprise would assume the current obligations and cash flows of the social security system in exchange for the exclusive right to sell additional insurance contracts. It may or may not choose to finance itself through the issuance of equity shares. The empirical analysis in the paper focuses on the stochastic nature of the liabilities faced by such an agency and in particular examines the optimal portfolio of assets required to hedge wage-indexed liabilities.

Suggested Citation

  • William Goetzmann, 2005. "More Social Security, Not Less," Yale School of Management Working Papers ysm449, Yale School of Management.
  • Handle: RePEc:ysm:somwrk:ysm449
    as

    Download full text from publisher

    File URL: http://icfpub.som.yale.edu/publications/2631
    Download Restriction: no

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. John Geanokoplos & Stephen P. Zeldes, 2010. "Market Valuation of Accrued Social Security Benefits," NBER Chapters,in: Measuring and Managing Federal Financial Risk, pages 213-233 National Bureau of Economic Research, Inc.

    More about this item

    Keywords

    Social Security; Wage Inedexation;

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ysm:somwrk:ysm449. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (). General contact details of provider: http://edirc.repec.org/data/smyalus.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.