Chapter

Bringing Financial Literacy to Washington

Peter R. Fisher

in Measuring and Managing Federal Financial Risk

Published by University of Chicago Press

Published in print April 2010 | ISBN: 9780226496580
Published online February 2013 | e-ISBN: 9780226496597 | DOI: http://dx.doi.org/10.7208/chicago/9780226496597.003.0002
Bringing Financial Literacy to Washington

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The federal government is not a limited purpose organization; it has many objectives. But if it is going to take on the responsibility of intervening in a highly complex market of investment and actuarial exposures, it is a shame that it cannot do so with its eyes open to the financial risks and with the ability to structure its balance sheet accordingly. While it may be hard for some to imagine an instrumentality of the federal government shorting the American stock market, if the U.S. government is going to take on the responsibilities of an insurance company, doing so with one arm tied behind its back is bound to be expensive for taxpayers, pension plans, and retirees.

Keywords: federal government; financial market; investment; financial risk; stock market; taxpayers

Chapter.  3039 words. 

Subjects: Econometrics and Mathematical Economics

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