The Economics of Pensions: Principles, Policies, and International ExperienceSalvador Valdés-Prieto The significant store of knowledge about publicly regulated pensions for old age has grown even more rapidly in the last decade. This book explores current research in four critical areas for pension policy: the political design of pension institutions; the iron links between fiscal deficits, private savings, and pension reform; how macroeconomic policy should be conducted after large private pension funds have emerged; and lessons on efficient organization of the pension industry, drawn from international comparisons including Australia, Chile, Malaysia, and the United Kingdom. |
Contents
Insulation of pensions from political risk | 33 |
Democracy and pensions in Chile Experience with two systems | 58 |
Public pension governance and performance | 92 |
Fiscal deficits and private saving in pension reform | 123 |
Pension reform and growth | 125 |
Transitions in the presence of credit constraints | 158 |
Financing a pension reform toward private funded pensions | 188 |
Macroeconomic policy and private pensions | 223 |
Pension funds capital controls and macroeconomic stability | 225 |
Are there good macroeconomic reasons for limiting external investments by pension funds? The Chilean experience | 249 |
| 273 | |
Pension choices and pensions policy in the United Kingdom | 275 |
Mandatory retirement saving Australia and Malaysia compared | 316 |
| 348 | |
Index | 369 |
Other editions - View all
The Economics of Pensions: Principles, Policies, and International Experience Salvador Valdés-Prieto No preview available - 1997 |
Common terms and phrases
accumulation allocation annuity arbitrage Arrau assets Australia average bonds budget capital controls capital market Central Bank changes chapter Chile Chilean consumption contribution rate CORFO costs credit constraints debt financing defined benefit defined contribution diversification domestic earnings economy effect employees equity exchange rate fiscal foreign fully funded government debt growth income tax increase individual inflation insulation interest rates investment investors issue legislation long-term macroeconomic Malaysia monetary occupational schemes OECD pay-as-you-go pay-as-you-go financing pay-as-you-go system pension benefits pension funds pension institution pension plans pension reform pension system period personal pension schemes political portfolio public debt public pension rate of return ratio redistribution reduce reported retirement income revaluation risk saving Schmidt-Hebbel sector SERPS share simulation social security Superannuation Guarantee Table taxation tion transfer transition deficit United United Kingdom Valdés-Prieto variables wage tax welfare workers World Bank