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(UBS Pensions Series 041) The Economics of Pensions

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  • Peter Diamond
  • Nicholas Barr

Abstract

This paper sets out the economic analytics of pensions. After introductory discussion, successive sections consider the effects of different pension arrangements on labor markets, on national savings and growth, and on the distribution of burdens and benefits. These are controversial and politically highly salient. While we are open about expressing our own views, the main purpose of the paper is to set out the analytical process by which we reach them, to enable readers to form their own conclusions.

Suggested Citation

  • Peter Diamond & Nicholas Barr, 2006. "(UBS Pensions Series 041) The Economics of Pensions," FMG Discussion Papers dp563, Financial Markets Group.
  • Handle: RePEc:fmg:fmgdps:dp563
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    File URL: http://www.lse.ac.uk/fmg/workingPapers/discussionPapers/fmgdps/dp563ubs041.pdf
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    Citations

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    Cited by:

    1. Elena Lucia Croitoru & Vasile Ilie, 2013. "The Influence Of The Demographic Phenomena On Pension Expenditure In Eu Member States," Romanian Economic Business Review, Romanian-American University, vol. 8(3.1), pages 85-91, September.
    2. Markus Leibrecht & Joelle H. Fiong, 2017. "Economic Crises and Globalisation as Drivers of Pension Privatisation: an Empirical Analysis," ICMA Centre Discussion Papers in Finance icma-dp2017-05, Henley Business School, Reading University.
    3. Filip Chybalski & Edyta Marcinkiewicz, 2016. "The Replacement Rate: An Imperfect Indicator of Pension Adequacy in Cross-Country Analyses," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 126(1), pages 99-117, March.
    4. Aggarwal, Raj & Goodell, John W., 2013. "Political-economy of pension plans: Impact of institutions, gender, and culture," Journal of Banking & Finance, Elsevier, vol. 37(6), pages 1860-1879.
    5. Filip Chybalski, 2016. "The Multidimensional Efficiency of Pension System: Definition and Measurement in Cross-Country Studies," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 128(1), pages 15-34, August.
    6. Andrew Coleman, 2014. "The growth, equity, and risk implications of different retirement income policies," New Zealand Economic Papers, Taylor & Francis Journals, vol. 48(2), pages 226-239, August.
    7. Martin Werding, 2016. "One Pillar Crumbling, the Others Too Short: Old-Age Provision in Germany," National Institute Economic Review, National Institute of Economic and Social Research, vol. 237(1), pages 13-21, August.
    8. Bielecki, Marcin & Goraus, Karolina & Hagemejer, Jan & Makarski, Krzysztof & Tyrowicz, Joanna, 2015. "Small assumptions (can) have a large bearing: evaluating pension system reforms with OLG models," Economic Modelling, Elsevier, vol. 48(C), pages 210-221.
    9. Nancy Quinceno Cárdenas, 2014. "Modelación basada en agentes en el sistema pensional colombiano. Una aproximación desde el mercado laboral y la dinámica poblacional," REVISTA CIFE, UNIVERSIDAD SANTO TOMÁS, September.
    10. Filgueira, Fernando & Manzi, Pilar, 2017. "Pension and income transfers for old age: Inter- and intra-generational distribution in comparative perspective," Políticas Sociales 225, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    11. Michele Tronconi, 2014. "Dalla prudenza alla crescita. Perché e come diversificare la previdenza sociale," LIUC Papers in Economics 276, Cattaneo University (LIUC).
    12. Teodoras Medaiskis & Tadas Gudaitis & Jaroslav Me?kovski, 2016. "The Effect of Second Pillar Pension to Old Age Pension: Lithuanian Case," International Journal of Economic Sciences, International Institute of Social and Economic Sciences, vol. 5(4), pages 20-31, December.
    13. Sergio Cesaratto, 2011. "The macroeconomics of pension reform: The case of severance pay reform in Italy," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 8(1), pages 69-89.
    14. Colm McCarthy, 2009. "Irish pensions policy and public debt management," Open Access publications 10197/1527, School of Economics, University College Dublin.
    15. Bielecki, Marcin & Goraus, Karolina & Hagemejer, Jan & Tyrowicz, Joanna, 2016. "Decreasing fertility vs increasing longevity: Raising the retirement age in the context of ageing processes," Economic Modelling, Elsevier, vol. 52(PA), pages 125-143.
    16. van Dalen, H.P. & Henkens, K. & Koedijk, C.G. & Slager, A.M.H., 2010. "Decision Making in the Pension Fund Board Room : An Experiment with Dutch Pension Fund Trustees," Discussion Paper 2010-18, Tilburg University, Center for Economic Research.

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