IDEAS home Printed from https://ideas.repec.org/a/ntj/journl/v53y2000i3p515-30.html
   My bibliography  Save this article

Uncertainty in Social Security Trust Fund Projections

Author

Listed:
  • Meyerson, Noah
  • Sabelhaus, John

Abstract

This paper presents measures of uncertainty about Social Security Trust Fund projections based on the new Long-Term Actuarial Model (LTAM) being developed at the Congressional Budget Office. Measuring the variance in Social Security outcomes involves three steps: specifying a model, characterizing uncertainty about model inputs, and generating useful measures of the uncertainty about model outputs. There are significant trade-offs to be made at each step, which can affect measured uncertainty in important ways. The LTAM framework is a promising approach for reconciling differences in other studies of uncertainty about long-term Social Security finances.

Suggested Citation

  • Meyerson, Noah & Sabelhaus, John, 2000. "Uncertainty in Social Security Trust Fund Projections," National Tax Journal, National Tax Association;National Tax Journal, vol. 53(3), pages 515-530, September.
    • Handle: RePEc:ntj:journl:v:53:y:2000:i:3:p:515-30
    DOI: 10.17310/ntj.2000.3.11
    as

    Download full text from publisher

    File URL: https://doi.org/10.17310/ntj.2000.3.11
    Download Restriction: Access is restricted to subscribers and members of the National Tax Association.
    File URL: https://doi.org/10.17310/ntj.2000.3.11
    Download Restriction: Access is restricted to subscribers and members of the National Tax Association.
    File URL: https://libkey.io/10.17310/ntj.2000.3.11?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Lee, Ronald & Tuljapurkar, Shripad, 1998. "Uncertain Demographic Futures and Social Security Finances," American Economic Review, American Economic Association, vol. 88(2), pages 237-241, May.
    Full references (including those not matched with items on IDEAS)

    Citations

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


    Cited by:

    1. Samir Soneji & Gary King, 2012. "Statistical Security for Social Security," Demography, Springer;Population Association of America (PAA), vol. 49(3), pages 1037-1060, August.
    2. Joan Gil & Miguel Angel López García & Jorge Onrubia & Cío Patxot & Guadalupe Souto, 2007. "A projection model of the contributory pension expenditure of the spanish social security system: 2004-2050," Hacienda Pública Española / Review of Public Economics, IEF, vol. 182(3), pages 75-116, September.
    3. David C. Lane & Özge Pala & Yaman Barlas & Willem L. Auping & Erik Pruyt & Jan H. Kwakkel, 2015. "Societal Ageing in the Netherlands: A Robust System Dynamics Approach," Systems Research and Behavioral Science, Wiley Blackwell, vol. 32(4), pages 485-501, July.
    4. Brian McCulloch & Jane Frances, 2001. "Financing New Zealand Superannuation," Treasury Working Paper Series 01/20, New Zealand Treasury.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Martin S. Feldstein & Jeffrey B. Liebman, 2002. "The Distributional Effects of an Investment-Based Social Security System," NBER Chapters, in: The Distributional Aspects of Social Security and Social Security Reform, pages 263-326, National Bureau of Economic Research, Inc.
    2. Jagadeesh Gokhale & Laurence J. Kotlikoff, 2002. "Social Security's Treatment of Postwar Americans. How Bad Can It Get?," NBER Chapters, in: The Distributional Aspects of Social Security and Social Security Reform, pages 207-262, National Bureau of Economic Research, Inc.
    3. Frank T. Denton & Byron G. Spencer, 1998. "Economic Costs of Population Aging," Quantitative Studies in Economics and Population Research Reports 339, McMaster University.
    4. Alan J. Auerbach & Ronald Lee, 2009. "Notional Defined Contribution Pension Systems in a Stochastic Context: Design and Stability," NBER Chapters, in: Social Security Policy in a Changing Environment, pages 43-68, National Bureau of Economic Research, Inc.
    5. Fanny Annemarie Kluge, 2013. "The Fiscal Impact of Population Aging in Germany," Public Finance Review, , vol. 41(1), pages 37-63, January.
    6. Christensen, Peter & Gillingham, Kenneth & Nordhaus, William, 2016. "Uncertainty in Forecasts of Long-Run Productivity Growth," Conference papers 332787, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    7. Samir Soneji & Gary King, 2012. "Statistical Security for Social Security," Demography, Springer;Population Association of America (PAA), vol. 49(3), pages 1037-1060, August.
    8. Denton, Frank T. & Gafni, Amiram & Spencer, Byron G., 2002. "Exploring the effects of population change on the costs of physician services," Journal of Health Economics, Elsevier, vol. 21(5), pages 781-803, September.
    9. Ronald Lee & Timothy Miller & Michael Anderson, 2004. "Stochastic Infinite Horizon Forecasts for Social Security and Related Studies," NBER Working Papers 10917, National Bureau of Economic Research, Inc.
    10. Yueqiang Zhao & Manying Bai & Peng Feng & Mengyuan Zhu, 2018. "Stochastic Assessments of Urban Employees’ Pension Plan of China," Sustainability, MDPI, vol. 10(4), pages 1-15, March.
    11. Frank T. Denton & Byron G. Spencer, 1999. "Population Aging and Its Costs: A Survey of the Issues and Evidence," Department of Economics Working Papers 1999-03, McMaster University.
    12. Lassila, Jukka & Valkonen, Tarmo & Alho, Juha M., 2011. "Fiscal sustainability and policy rules under changing demographic forecasts," Discussion Papers 1265, The Research Institute of the Finnish Economy.
    13. Nicolas Afflatet, 2016. "The impact of population ageing on public debt. A panel analysis for eighteen european countries," Working Papers 1615, University of Strathclyde Business School, Department of Economics.
    14. Lassila, Jukka, 2018. "Aggregate Risks, Intergenerational Risk-Sharing and Fiscal Sustainability in the Finnish Earnings-Related Pension System," ETLA Working Papers 57, The Research Institute of the Finnish Economy.
    15. Joan Costa-Font & Raphael Wittenberg & Concepció Patxot & Adelina Comas-Herrera & Cristiano Gori & Alessandra di Maio & Linda Pickard & Alessandro Pozzi & Heinz Rothgang, 2008. "Projecting Long-Term Care Expenditure in Four European Union Member States: The Influence of Demographic Scenarios," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 86(2), pages 303-321, April.
    16. Michael Anderson & Shirpad Tuljapurkar & Ronald D. Lee, 2001. "Chances are...Stochastic Forecasts of the Social Security Trust Fund and Attempts to Save It," Working Papers wp008, University of Michigan, Michigan Retirement Research Center.
    17. David C. Lane & Özge Pala & Yaman Barlas & Willem L. Auping & Erik Pruyt & Jan H. Kwakkel, 2015. "Societal Ageing in the Netherlands: A Robust System Dynamics Approach," Systems Research and Behavioral Science, Wiley Blackwell, vol. 32(4), pages 485-501, July.
    18. Ronald D. Lee & Michael W. Anderson & Shripad Tuljapurkar, 2003. "Stochastic Forecasts of the Social Security Trust Fund," Working Papers wp043, University of Michigan, Michigan Retirement Research Center.
    19. Brian McCulloch & Jane Frances, 2001. "Financing New Zealand Superannuation," Treasury Working Paper Series 01/20, New Zealand Treasury.
    20. Meyerson, Noah & Sabelhaus, John, 2000. "Uncertainty in Social Security Trust Fund Projections," National Tax Journal, National Tax Association, vol. 53(n. 3), pages 515-30, September.

    More about this item

    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:ntj:journl:v:53:y:2000:i:3:p:515-30. See general information about how to correct material in RePEc.

    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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: The University of Chicago Press (email available below). General contact details of provider: https://www.ntanet.org/ .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.