Social Security and Market Risk

Studies | Social Security

No. 244
Tuesday, July 31, 2001
by Liqun Liu, Andrew J. Rettenmaier, and Zijun Wang


References

Felicitie C. Bell, Alice H. Wade and Stephen C. Goss, "Life Tables for the United States Social Security Area 1900-2080," Actuarial Study No. 107, U.S. Department of Health and Human Services, Social Security Administration, Office of the Actuary, August 1992.

Zvi Bodie, Alex Kane and Alan J. Marcus, Investments, 3rd ed. (New York: Irwin, 1996).

Bureau of Labor Statistics, "Consumer Price Index," accessed on-line, September 9, 2000. ftp://ftp.bls.gov/pub/special.requests/cpi/cpiai.txt

Economic Report of the President, 2000 (Washington D.C.: U.S. Government Printing Office, 2000).

Alfred Cowles 3rd and Associates, Common-Stock Indexes 1871-1937 (Bloomington, Ind.: Principal Press, Inc., 1938).

Martin Feldstein, "Social Security Reform: America's Golden Opportunity," Economist, March 13, 1999.

Sidney Homer A History of Interest Rates, 2nd ed., (New Brunswick, N.J.: Rutgers University Press, 1977).

Roger G. Ibbotson and Gary P. Briston, Investment Markets (New York: McGraw-Hill Book Company, 1987).

Liqun Liu and Andrew J. Rettenmaier, "The Attractiveness of the Social Security Investment for Members of Different Racial and Education Groups,: Private Enterprise Research Center, PERC Working Paper #0010, November 2000.

Frederick R. MaCaulay, "The Movements of Interest Rates, Bond Yields and Stock Prices in the United States since 1856," National Bureau of Economic Research, New York, 1938.

Olivia S. Mitchell, James M. Poterba, Mark J. Warshawsky and Jeffrey R. Brown, "New Evidence on the Money's Worth of Individual Annuities," American Economic Review, 89: 1299-1318, 1999.

James M. Poterba and Mark J. Warshawsky, "The Costs of Annuitizing Retirement Payouts from Individual Accounts," in J. Shoven, ed., Administrative Costs and Social Security Privatization (Chicago: University of Chicago Press, 2000).

Andrew J. Rettenmaier and Thomas R. Saving, The Economics of Medicare Reform (Kalamazoo, Mich.: W. E. Upjohn Institute for Employment Research, 2000).

Jeremy J. Siegel, "The real rate of interest from 1800-1990," Journal of Monetary Economics 29, 227-252, 1992.

Jeremy J. Siegel, Stocks for the Long Run, 2nd ed. (New York: McGraw-Hill, 1998.)

Standard & Poor's Statistical Service: Security Price Index Record, 1974, 1998 eds.

The Board of Trustees, 2001 Annual Report of the Board of Trustees of the Federal Old- Age and Survivors Insurance and Disability Insurance Trust Funds, Social Security Administration, 2001.

U.S. Bureau of the Census, Historical Statistics of the United States, Colonial Time to 1957, Washington, D.C, 1960.

U.S. Department of Commerce, Bureau of Census, Statistical Abstract of the United States, various issues.

Jack W. Wilson and Charles P. Jones, "A comparison of annual common stock returns: 1871-1925 with 1926-85," Journal of Business 60, 239-258, 1987.


Read Article as PDF