skip to content
Reforming Social Security with progressive personal accounts Preview this item
ClosePreview this item
Checking...

Reforming Social Security with progressive personal accounts

Author: John Geanakoplos; Stephen P Zeldes; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, 2008.
Series: Working paper series (National Bureau of Economic Research), no. 13979.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
The heated debate about how to reform Social Security has come to a standstill because the view of most Democrats (that Social Security must be a defined benefits plan similar in spirit to the current system) seems irreconcilable with the proposals supported by many Republicans (to create a defined contribution system of personal accounts holding marketed assets). We describe a system of "progressive personal  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

Find a copy online

Links to this item

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: John Geanakoplos; Stephen P Zeldes; National Bureau of Economic Research.
OCLC Number: 227366586
Description: 1 online resource (1 volume).
Series Title: Working paper series (National Bureau of Economic Research), no. 13979.
Responsibility: John Geanakoplos, Stephen P. Zeldes.

Abstract:

The heated debate about how to reform Social Security has come to a standstill because the view of most Democrats (that Social Security must be a defined benefits plan similar in spirit to the current system) seems irreconcilable with the proposals supported by many Republicans (to create a defined contribution system of personal accounts holding marketed assets). We describe a system of "progressive personal accounts" that preserves the core goals of both parties, and that is self-balancing on an ongoing basis. Progressive personal accounts have two critical features: (1) accruals into the personal accounts would be exclusively in a new kind of derivative security (which we call a PAAW for Personal Annuitized Average Wage security) that pays its owner one inflation-corrected dollar during every year of life after his statutory retirement date, multiplied by the economy wide average wage at the retirement date and (2) households would buy their new PAAWs each year with their social security contributions, augmented or reduced by a government match that would add to contributions from households with low lifetime incomes by taking from households with high lifetime incomes. PAAWS define benefits and achieve risk sharing across generations, as Democrats would like, yet can be held in personal accounts with market valuations, as Republicans propose.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/227366586> # Reforming Social Security with progressive personal accounts
    a schema:MediaObject, schema:Book, schema:CreativeWork ;
   library:oclcnum "227366586" ;
   library:placeOfPublication <http://id.loc.gov/vocabulary/countries/mau> ;
   library:placeOfPublication <http://experiment.worldcat.org/entity/work/data/137099139#Place/cambridge_mass> ; # Cambridge, Mass.
   schema:about <http://id.loc.gov/authorities/subjects/sh2008111200> ; # Social security--United States
   schema:about <http://id.worldcat.org/fast/1204155> ; # United States.
   schema:about <http://id.worldcat.org/fast/1123077> ; # Social security
   schema:about <http://id.loc.gov/authorities/subjects/sh2008104421> ; # Individual retirement accounts--United States
   schema:about <http://dewey.info/class/330/> ;
   schema:about <http://id.worldcat.org/fast/970318> ; # Individual retirement accounts
   schema:bookFormat schema:EBook ;
   schema:contributor <http://viaf.org/viaf/135446122> ; # National Bureau of Economic Research.
   schema:contributor <http://viaf.org/viaf/70085018> ; # Stephen P. Zeldes
   schema:creator <http://viaf.org/viaf/54783532> ; # John Geanakoplos
   schema:datePublished "2008" ;
   schema:description "The heated debate about how to reform Social Security has come to a standstill because the view of most Democrats (that Social Security must be a defined benefits plan similar in spirit to the current system) seems irreconcilable with the proposals supported by many Republicans (to create a defined contribution system of personal accounts holding marketed assets). We describe a system of "progressive personal accounts" that preserves the core goals of both parties, and that is self-balancing on an ongoing basis. Progressive personal accounts have two critical features: (1) accruals into the personal accounts would be exclusively in a new kind of derivative security (which we call a PAAW for Personal Annuitized Average Wage security) that pays its owner one inflation-corrected dollar during every year of life after his statutory retirement date, multiplied by the economy wide average wage at the retirement date and (2) households would buy their new PAAWs each year with their social security contributions, augmented or reduced by a government match that would add to contributions from households with low lifetime incomes by taking from households with high lifetime incomes. PAAWS define benefits and achieve risk sharing across generations, as Democrats would like, yet can be held in personal accounts with market valuations, as Republicans propose."@en ;
   schema:exampleOfWork <http://worldcat.org/entity/work/id/137099139> ;
   schema:inLanguage "en" ;
   schema:isPartOf <http://experiment.worldcat.org/entity/work/data/137099139#Series/nber_working_paper_series> ; # NBER working paper series ;
   schema:isPartOf <http://experiment.worldcat.org/entity/work/data/137099139#Series/working_paper_series_national_bureau_of_economic_research> ; # Working paper series (National Bureau of Economic Research) ;
   schema:name "Reforming Social Security with progressive personal accounts"@en ;
   schema:productID "227366586" ;
   schema:publication <http://www.worldcat.org/title/-/oclc/227366586#PublicationEvent/cambridge_mass_national_bureau_of_economic_research_2008> ;
   schema:publisher <http://experiment.worldcat.org/entity/work/data/137099139#Agent/national_bureau_of_economic_research> ; # National Bureau of Economic Research
   schema:url <http://papers.nber.org/papers/w13979> ;
   schema:url <http://ezproxy.eui.eu/login?url=http://papers.nber.org/papers/> ;
   schema:url <http://papers.nber.org/papers/13979> ;
   wdrs:describedby <http://www.worldcat.org/title/-/oclc/227366586> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/137099139#Agent/national_bureau_of_economic_research> # National Bureau of Economic Research
    a bgn:Agent ;
   schema:name "National Bureau of Economic Research" ;
    .

<http://experiment.worldcat.org/entity/work/data/137099139#Place/cambridge_mass> # Cambridge, Mass.
    a schema:Place ;
   schema:name "Cambridge, Mass." ;
    .

<http://experiment.worldcat.org/entity/work/data/137099139#Series/nber_working_paper_series> # NBER working paper series ;
    a bgn:PublicationSeries ;
   schema:hasPart <http://www.worldcat.org/oclc/227366586> ; # Reforming Social Security with progressive personal accounts
   schema:name "NBER working paper series ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/137099139#Series/working_paper_series_national_bureau_of_economic_research> # Working paper series (National Bureau of Economic Research) ;
    a bgn:PublicationSeries ;
   schema:hasPart <http://www.worldcat.org/oclc/227366586> ; # Reforming Social Security with progressive personal accounts
   schema:name "Working paper series (National Bureau of Economic Research) ;" ;
    .

<http://id.loc.gov/authorities/subjects/sh2008104421> # Individual retirement accounts--United States
    a schema:Intangible ;
   schema:name "Individual retirement accounts--United States"@en ;
    .

<http://id.loc.gov/authorities/subjects/sh2008111200> # Social security--United States
    a schema:Intangible ;
   schema:name "Social security--United States"@en ;
    .

<http://id.worldcat.org/fast/1123077> # Social security
    a schema:Intangible ;
   schema:name "Social security"@en ;
    .

<http://id.worldcat.org/fast/1204155> # United States.
    a schema:Place ;
   schema:name "United States." ;
    .

<http://id.worldcat.org/fast/970318> # Individual retirement accounts
    a schema:Intangible ;
   schema:name "Individual retirement accounts"@en ;
    .

<http://papers.nber.org/papers/13979>
   rdfs:comment "An electronic book accessible through the World Wide Web; click for information" ;
    .

<http://viaf.org/viaf/135446122> # National Bureau of Economic Research.
    a schema:Organization ;
   schema:name "National Bureau of Economic Research." ;
    .

<http://viaf.org/viaf/54783532> # John Geanakoplos
    a schema:Person ;
   schema:familyName "Geanakoplos" ;
   schema:givenName "John" ;
   schema:name "John Geanakoplos" ;
    .

<http://viaf.org/viaf/70085018> # Stephen P. Zeldes
    a schema:Person ;
   schema:familyName "Zeldes" ;
   schema:givenName "Stephen P." ;
   schema:name "Stephen P. Zeldes" ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.