Pensions Economics And Public Policy

From the Pension Research Council of the Wharton School

According to Schieber and Shoven, pension policy will emerge as one of the key economic issues of the next decade. This book provides a guide to the debate.Public and private pensions control almost a quarter of the United States' tangible wealth--equivalent to all of the country's residential real estate. They account for most current saving in the country, are a crucial component of household retirement resources, and have significant effects on labor market mobility and efficiency. Collectively, they hold a tremendous proportion of all common stock. The stock market has boomed during the past decade, as baby boomers have rapidly accumulated pension assets. Now economists are starting to wonder what will happen when the baby boomers retire. It is already clear that the Social Security system will require drastic changes to remain solvent. Will the stock market experience a similar meltdown as baby boomers withdraw their assets from pension plans? What policies might help to avoid such a crisis? According to Schieber and Shoven, pension policy will emerge as one of the key economic issues of the next decade. This book provides a guide to the debate. Topics include the impact of pensions on personal and national saving, the potential for a Pension Benefit Guarantee Corporation financial crisis, the dramatic growth in 401(k) plans, public sector plants, the prospects for adequate retirement income in the future, and recommended directions for pension policies. The book contains ten chapters, four written by Schieber and Shoven.ContributorsRobert Clark, Ping-Lung Hsin, Olivia Mitchell, James Poterba, Andrew Samwick, Jonathan Skinner, Steven Venti, Carolyn Weaver, David Wise, and Elisa Wolper.

This book, first published in 1997, offers up-to-date research about publicly regulated pensions for old age.

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

While not attempting to train readers as professional economists, this book aims to provide a secure grounding in the theory and practice of economics insofar as it deals with pension matters. From reading this book, the user will understand: * The key types of pension scheme * The role of pensions in maximizing individual lifetime welfare * The role of pensions in individual savings and retirement decisions * The role and consequences of the pension plan from the company's viewpoint * The role of pensions in promoting aggregate savings * The role of pensions and retirement in overlapping generations models * The economics of ageing and intergenerational accounting * The social welfare implications of pensions * The lessons of behavioural economics for pensions

A collection of papers dealing with different aspects of public pension economics presents new approaches and new results from the frontier of economic research on this topic. The main subjects covered by the book are:• Intergenerational redistribution caused by public pension systems• Efficiency of pay-as-you-go schemes under certainty and general assumptions covering the “small open” and the “closed” economy as special cases• Interregional and intertemporal efficiency when harmonization of policies is attempted and

Providing an overview of the future research challenges for economists and social scientists concerning population ageing, pensions, health and social care in Europe, this book examines how scientific research can provide cutting-edge evidence on income security and well-being of the elderly, and labour markets and older workers.

Gray Agendas presents a groundbreaking, cross-national study into the complex and interdependent relationship between public policy and the interest groups of the aged. Canada, Britain, and the United States are examined and compared. This book provides a unique, in-depth understanding of how public policies have sparked the creation of organized senior citizen groups, which in turn, through their intensified political clout, have been able to shape subsequent public policy. The book begins with a historical perspective on the state's role in the lives of the aged and the indirect consequences of various policies on the elderly population, including most specifically, age group mobilization. Later, consideration is given to widespread economic, social, and ideological changes in age policy, and the effect that new interest group formation had and continues to have upon these changes. The final chapters are concerned with current issues surrounding the present density of organized age based activity, and the effects of transformed state policy on the future of interest groups for the aged. The unique topic of Gray Agendas will prove interesting not only to those interested in the fields of sociology, history, and political science, but also will help fill the gap of scholarly information on issues concerning the elderly's organizations, proving invaluable to those interested in social gerontology and related areas of study.