Rethinking Pension Reform - Softcover

Modigliani, Franco

Softcover

ISBN 10: 0521676533 ISBN 13: 9780521676533

Publisher: Cambridge University Press, 2005

Synopsis

This book presents an academic and a practical aspect on managing pension funds to clarify the global debate on social security. The authors establish the basic choices in designating any system to help policy makers develop the system that achieves their many objectives. They examine reforms in Latin America to highlight flaws and to estimate the true cost of these reforms and factors affecting these costs. The authors then discuss how the United States and Spain can implement robust systems incorporating many of the ideal features. The success of reforms depends on financial innovation to mitigate key risks and some innovations are discussed, which also demonstrates how pension reform choices affect the achievement of retirement objectives. Finally, the authors examine some proposed hybrid options to show how the beneficial features of these hybrids can be captured through good design in a single fund.

About this title

Review:

'... the book is an exemplary model for policy analysis in which the crisis is diagnosed and solutions proposed, tested and related institutions recommended. This is surely a wonderful testament to Modigliani's long career as an economist and Muralidhar's hard work in realising his vision.' Gordon L. Clark, Investment & Pensions Europe

'... makes a significant contribution to the growing literature on public pension reform ... valuable theoretical lessons for pension reformers of all stripes ... The authors' approach is imaginative and their economic analysis, as expected, is first-rate ... Rethinking Pension Reform represents a significant contribution to the continuing debate over public pension reform, and it constitutes a fitting legacy for its distinguished co-author.' Journal of Pension, Economics, and Finance

Book Description:

This book presents an academic and a practical aspect on managing pension funds to clarify the global debate on social security. The authors establish the basic choices in designating any system to help policy makers develop the system that achieves their many objectives.

About this edition

• Publisher: Cambridge University Press
• Publication date: 2005
• ISBN 10: 0521676533
• ISBN 13: 9780521676533
• Binding: Paperback
• Number of pages: 266