01816cas a2200265 a 4500 AALejournalIMF003859 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451862270 1018-5941 BD-DhAAL BD-DhAAL Bayoumi, Tamim. Macroeconomic Effects of Social Security and Tax Reform in the United States / Tamim Bayoumi, Dennis Botman, Manmohan Kumar. Washington, D.C. : International Monetary Fund, 2005. 1 online resource (22 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 We use the IMF's Global Fiscal Model to evaluate recent proposals to reform social security and the tax system in the United States. Introducing personal retirement accounts is unlikely to yield significant macroeconomic benefits unless it spurs additional fiscal consolidation to prevent a large increase in government debt. Similar benefits are obtained if the social security surplus is placed in a lockbox while maintaining the same debt target. Lowering the taxation of investment income is beneficial, but only if the reform is revenue neutral. Debtneutral social security and tax reform in the United States has large positive effects on the rest of the world. Mode of access: Internet Botman, Dennis. Kumar, Manmohan. IMF Working Papers; Working Paper ; No. 2005/208 Full text available on IMF http://elibrary.imf.org/view/journals/001/2005/208/001.2005.issue-208-en.xml IMF e-Library