The Equivalence of the Social Security's Trust Fund Portfolio Allocation and Capital Income Tax Policy
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This paper proves that the stock-bond portfolio choice of the Social Security trust fund is equivalent in general equilibrium to the tax treatment of capital income by the non-social security part of government. A larger [smaller] share of social security's portfolio invested in stocks is equivalent
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美国国家经济研究局创建时间：
2001-04-01
