This paper from U.S. Department of the Treasury investigates some theoretical effects of alternative regulatory policies on investment and innovational incentives in the telecommunications industry. Currently, technological convergence is leading to the creation of common platforms for historically distinct voice, data video services; this will make a broad array of software defined services available to consumers and businesses and lead to more efficient use of network resources. However, this process threatens existing inter-carrier compensation systems and other support mechanisms that rest on a base of PSTN assets.
This paper published by U.S. Department of the Treasury considers the Social Security real interest rate, examining historical interest rates and estimates derived from Treasury inflation-indexed securities. The paper demonstrates that historical experience with nominal rates of return and realized inflation back through 1870 results in a long-term real interest rate just under 3 percent, although in the more recent historical record, rates have been somewhat higher. Forward-looking projections based on inflation-indexed Treasuries for the past three years have averaged about 2.8 percent.