The Rationale for Occupational Pensions
AbstractEmployers and employees have no incentive to include pensions as part of employment contracts unless the pension completes a missing market, or ameliorates an imperfection in existing capital or labour markets. We examine the influence on the choice and design of occupational pensions of capital- and labour-market imperfections. In capital markets, we focus on basis risks, taxation, employer default risks, transactions costs, portfolio restrictions, and liquidity constraints. Aspects of labour markets affecting occupational pensions may be the presence of firm-specific human capital, asymmetric information between firms and potential hires, the presence of moral hazard, and internal labour markets in firms which cause employers to attempt to control the retirement behaviour of workers. The implications of this analysis of occupational pensions for public policy towards pensions are briefly examined. Copyright 2006, Oxford University Press.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoArticle provided by Oxford University Press in its journal Oxford Review of Economic Policy.
Volume (Year): 22 (2006)
Issue (Month): 1 (Spring)
Contact details of provider:
Web page: http://oxrep.oupjournals.org/
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Dummann, Kathrin, 2007. "Determinants of occupational pension provision in Germany," Thuenen-Series of Applied Economic Theory 75, University of Rostock, Institute of Economics.
- Callan, Tim & Keane, Claire & Walsh, John R., 2009. "Pension Policy: New Evidence on Key Issues," Research Series, Economic and Social Research Institute (ESRI), number RS14, December.
- Johansen, Kathrin, 2010. "Multiple information search and employee participation in occupational pension plans," Thuenen-Series of Applied Economic Theory 114, University of Rostock, Institute of Economics.
- Kathrin Dummann, 2007. "What Determines the Demand for Occupational Pensions in Germany?," SOEPpapers on Multidisciplinary Panel Data Research 67, DIW Berlin, The German Socio-Economic Panel (SOEP).
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.