Issues In Pension Economics
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Issues In Pension Economics
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Author : Zvi Bodie
language : en
Publisher: University of Chicago Press
Release Date : 2007-12-01
Issues In Pension Economics written by Zvi Bodie and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-01 with Business & Economics categories.
In the past several decades, pension plans have become one of the most significant institutional influences on labor and financial markets in the U.S. In an effort to understand the economic effects of this growth, the National Bureau of Economic Research embarked on a major research project in 1980. Issues in Pension Economics, the third in a series of four projected volumes to result from thsi study, covers a broad range of pension issues and utilizes new and richer data sources than have been previously available. The papers in this volume cover such issues as the interaction of pension-funding decisions and corporate finances; the role of pensions in providing adequate and secure retirement income, including the integration of pension plans with social security and significant drops in the U.S. saving rate; and the incentive effects of pension plans on labor market behavior and the implications of plans on labor market behavior and the implications of plans for different demographic groups. Issues in Pension Economics offers important empirical studies and makes valuable theoretical contributions to current thinking in an area that will most likely continue to be a source of controversy and debate for some time to come. The volume should prove useful to academics and policymakers, as well as to members of the business and labor communities.
Pension Reform
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Author : Nicholas Barr
language : en
Publisher: Oxford University Press
Release Date : 2009-11-30
Pension Reform written by Nicholas Barr and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-11-30 with Business & Economics categories.
This book is an abridgement of Barr and Diamond's Reforming Pensions: Principles and Policy Choices (OUP, 2008). It begins with the introduction to the earlier book, includes the concluding chapters to the sections on principles and on policy choices and the concluding policy chapter to the book. It summarizes the Chile and China chapters into a section of five pages. It presents material from some of the boxes of the longer book. While the longer book remains as a definitive and detailed analysis of pension reform, this new, shorter book conveys the message and conclusions to policy makers, journalists writing for the general public, and students being introduced to social security and other pension policy.The topic being condensed and summarized here is described at length in the earlier book. It stems from rapidly changing economic conditions and dramatic increases in life expectancy. Newspaper headlines across the globe anticipate again and again a massive rupture of social security and retirement systems. With public fears on the rise, officials in many countries under pressure to solve problems quickly are turning their backs on traditional pay-as-you-go systems in favor of privately financed retirement plans. Barr and Diamond demonstrate that in the age of globalization these problems are no longer simply domestic problems. Because trade borders are becoming increasingly open and digital transactions are hastily erasing national economic boundaries, countries are no longer able to act independently in setting pension policies. These problems are particularly exacerbated in China, a state where massive restructuring of state-owned enterprises and comparatively recent dynamic entry into global markets have already taxed a system whose enormous burden is to support the retirement of the world's largest national population. The authors address these issues comprehensively in a thorough survey of pension economic principles and application to China.
Economic Challenges Of Pension Systems
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Author : Marta Peris-Ortiz
language : en
Publisher: Springer
Release Date : 2021-03-21
Economic Challenges Of Pension Systems written by Marta Peris-Ortiz and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-03-21 with Business & Economics categories.
This book examines the major economic challenges associated with the sustainability of public pensions, specifically demographic change, labor-market relations, and risk sharing. The issue of public pensions occupies the political and economic agendas of many major governments in the world. International organizations such as the World Bank and the OECD warn that the economic changes driven by an aging society negatively affects the sustainability of pension systems. This book analyzes different global public pension systems to offer policies, methods and tools for sustainable public pensions. Real case studies from France, Sweden, Latin America, Algeria, USA and Mexico are featured.
Older And Wiser
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Author : Lawrence Thompson
language : en
Publisher: Routledge
Release Date : 2019-05-23
Older And Wiser written by Lawrence Thompson and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-23 with Social Science categories.
First published in 1998, this volume was developed as part of the Stockholm Initiative and sets out to assess the situation of providing for retirement and pensions. In the wake of intense debate over pay-as-you-go pensions, Lawrence Thomson for the most part leaves social and cultural issues for subsequent analysis, instead examining the economic
Pension Fund Economics And Finance
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Author : Jacob Bikker
language : en
Publisher: Routledge
Release Date : 2017-11-22
Pension Fund Economics And Finance written by Jacob Bikker and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-22 with Business & Economics categories.
Pension fund benefits are crucial for pensioners’ welfare and pension fund savings have accumulated to huge amounts, covering a major part of world-wide institutional investments. However, the literature on pension fund economics and finance is rather limited, caused, in part, to limited data availability. This book contributes to this literature and focuses on three important areas. The first is pension fund (in)efficiency, which has a huge impact on final benefits, particularly when annual spoilage accumulates over a lifetime. Scale economies, pension plans complexity and alternative pension saving plans are important issues. The second area is investment behavior and risk-taking. A key question refers to the allocation of investments over high risk/high return and relatively safe assets. Bikker investigates whether pension funds follow the life-cycle hypothesis: more risk and return for pension funds with young participants. Many pension funds are rather limited in size, which may raise the question how financially sophisticated the pension fund decision makers are: rather professionals or closer to unskilled private persons? The third field concerns two regulation issues. How do pension fund respond to shocks such as unexpected investment returns or changes in life expectancy? What are the welfare implications to the beneficiary for different methods of securing pension funding: solvency requirements, a pension guarantee fund, or sponsor support? This groundbreaking book will challenge the way pension fund economics is thought about and practiced.
Older And Wiser
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Author : Lawrence H. Thompson
language : en
Publisher: Urban Inst Press
Release Date : 1998
Older And Wiser written by Lawrence H. Thompson and has been published by Urban Inst Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Social Science categories.
The author explores the critical economic issues underlying national pension systems, including the impact of pensions on a nation's economy, the fiscal dynamics of different pension approaches, and the challenges involved in providing adequate retirement incomes. He concludes that some aspects of the effort to reform the traditional defined-benefit, pay-as-you-go social security program deserve to be taken seriously, but others are either unsupported by current economic knowledge or overstated. This study was commissioned by the International Social Security Association.
Social Security Reform
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Author : Robin Brooks
language : en
Publisher: Cambridge University Press
Release Date : 2005-04-04
Social Security Reform written by Robin Brooks and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-04-04 with Business & Economics categories.
This book focuses on the underlying economic issues of the debate over public pension system reform.
Reforming Pensions Principles And Policy Choices
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Author : Nicholas Barr
language : en
Publisher: Oxford University Press
Release Date : 2008-09-17
Reforming Pensions Principles And Policy Choices written by Nicholas Barr and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-09-17 with Business & Economics categories.
Mandatory pensions are a worldwide phenomenon. However, with fixed contribution rates, monthly benefits, and retirement ages, pension systems are not consistent with three long-run trends: declining mortality, declining fertility, and earlier retirement. Many systems need reform. This book gives an extensive nontechnical explanation of the economics of pension design. The theoretical arguments have three elements: * Pension systems have multiple objectives--consumption smoothing, insurance, poverty relief, and redistribution. Good policy needs to bear them all in mind. * Good analysis should be framed in a second-best context-- simple economic models are a bad guide to policy design in a world with imperfect information and decision-making, incomplete markets and taxation. * Any choice of pension system has risk-sharing and distributional consequences, which the book recognizes explicitly. Barr and Diamond's analysis includes labor markets, capital markets, risk sharing, and gender and family, with comparison of PAYG and funded systems, recognizing that the suitable level of funding differs by country. Alongside the economic principles of good design, policy must also take account of a country's capacity to implement the system. Thus the theoretical analysis is complemented by discussion of implementation, and of experiences, both good and bad, in many countries, with particular attention to Chile and China.
Pensions In The European Union Adapting To Economic And Social Change
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Author : Gerard Hughes
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Pensions In The European Union Adapting To Economic And Social Change written by Gerard Hughes and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Social Science categories.
The ageing, financial and labour market challenges facing the old age pension systems of the member states of the European Union are well known. Those who cast doubt on the ability of the present system of pension provision - at least to the extent that it is pay-as-you-go financed - to cope with the problems posed by these challenges are getting more vociferous. Increasingly there are calls for pay-as-you-go systems to be cut back and for funded systems to be expanded. This book contests the view that funding is the answer. It shows how adaptable the largely pay-as-you-go old age pension systems in the European Union are. Actuaries, economists, lawyers, political scientists, pension advisers, and sociologists, from nine European countries and the United States, consider four main themes: population ageing, competitiveness and retirement; pension financing and economic growth; adapting pension systems to meet change; and decision-making processes. They argue that pay-as-you-go-financed old age pension systems in the European Union have the ability to successfully adapt to economic and social change provided they do not take on too many non-insurance-related risks. Solving the problems of the labour market and controlling the direction and extent of economic development are beyond the powers of old age pension systems, regardless of how they are structured or financed. Separate budgets for separate risks is an indispensable principle if the complex processes of social protection are to be successfully managed, monitored, and made transparent. There can be no single plan for the future development of old age pension systems which would be universally valid for all the countries of the European Union. A single solution cannot take into account the special circumstances obtaining in every nation, and since respect for the special features of national systems is the basis of popular acceptance, the way forward is to reform existing systems in existing contexts.
The Pension Puzzle
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Author : Mr.N. A. Barr
language : en
Publisher: International Monetary Fund
Release Date : 2002-04-30
The Pension Puzzle written by Mr.N. A. Barr and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-04-30 with Business & Economics categories.
Looks at the policy choices involved in creating pension schemes, particularly whether it is advisable to move away from government pay-as-you-go pensions toward private or publicly funded plans. Examines the reasons for the controversy surrounding pension design, and whether the second level of pension systems should be mandatory, private, funded, and defined-contribution.