Pension Reform: Redistribution and Risk: 56 (Occasional Paper) - Softcover

Softcover

ISBN 10: 0954541006 ISBN 13: 9780954541002

Publisher: National Institute of Economic & Social Research, 2003

Synopsis

This volume, edited by Martin Weale, brings together six papers by European and American experts on pensions problems. The underlying theme of the basic analysis is that public policy towards pensions has to be associated with managing questions of risk and redistribution. Who should bear the risk if returns on investments made by pension funds turn out to be lower than had been expected? Where does the burden fall if taxes are raised to balance prospective shortfalls in Pay as You Go pension schemes? What sort of pension scheme would people who are uncertain about their future earnings like? What are the political pressures likely to be generated from poor returns and can pension schemes be devised to be immune to these? How important is demographic uncertainty and what might be done to handle the risks to which it gives rise? How should a move to pre-funding be structured given that future needs cannot be known with certainty?

These are key issues which should not be ignored in reforming pension arrangements. The analysis in this volume shows policy-makers how to address such problems so as to ensure that they can produce pension arrangements which are unlikely to be derailed by adverse shocks and which share risks fairly.

Martin Weale is Director of the National Institute of Economic and Social Research. The other authors are Holger Bonin (Institute for the Study of Labour, Bonn and University of Bonn), Marcello d'Amato (University of Salerno), Karen Feist (University of Freiburg), Vincenzo Galasso (University L. Bocconi, Milan and Centre for Economic Policy Research, London), Jukka Lassila (ETLA, Finland), J Michael Orszag (Watson Wyatt LLP, Reigate, UK), Peter R Orszag (Brookings Institute, Washington DC), James Sefton (Imperial College, London and National Institute of Economic and Social Research, London), Tarmo Valkonen (ETLA, Finland) and Martijn van de Ven (CPB, The Hague).

About this title

About the Author

Holger Bonin
Institute for the Study of Labour (IZA), Bonn and University of Bonn

Marcello D’Amato
University of Salerno

Karen Feist
University of Freiburg

Vincenzo Galasso
University L.Bocconi, Milan, University Carlos III, Madrid and
Centre for Economic Policy Research, London

Jukka Lassila
ETLA (The Research Institute of the Finnish Economy)

J Michael Orszag
Watson Wyatt LLP, Reigate, UK

Peter R Orszag
Brookings Institute, Washington DC

James Sefton

Imperial College of Science and Technology, London and
National Institute of Economic and Social Research, London

Tarmo Valkonen
ETLA (The Research Institute of the Finnish Economy)

Martijn van de Ven
CPB Netherlands Bureau for Economic Policy Analysis

Martin Weale
National Institute of Economic and Social Research, London

Edition details

• Publisher: National Institute of Economic & Social Research
• Publication date: 2003
• Language: English
• ISBN 10: 0954541006
• ISBN 13: 9780954541002
• Binding: Paperback
• Edition number: 1
• Number of pages: 198
• Editor: Weale Martin