01643cas a2200241 a 4500 AALejournalIMF000446 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451853568 1018-5941 BD-DhAAL BD-DhAAL Leidy, Michael. Investing U.S. Social Security Trust Fund Assets in Private Securities / Michael Leidy. Washington, D.C. : International Monetary Fund, 1997. 1 online resource (28 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper examines the macroeconomic and distributional consequences of a policy change, other things being equal, that would allow U.S. Social Security trust fund assets to be invested in private securities. Improving the expected return to trust fund assets, by shifting these from government bonds to private securities, tends to reduce (increase) the future claim on national output of the current (future) working population. The effects on aggregate saving and future output depend on whether current workers interpret this policy change as affecting their future Social Security benefits. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1997/112 Full text available on IMF http://elibrary.imf.org/view/journals/001/1997/112/001.1997.issue-112-en.xml IMF e-Library