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Lessons from Pension Reform in the Americas

Stephen J. Kay and Tapen Sinha (eds)

Published in print:
2007
Published Online:
January 2008
ISBN:
9780199226801
eISBN:
9780191710285
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199226801.001.0001
Subject:
Business and Management, Pensions and Pension Management

Latin American experiments with pension reform began when Chile converted its public pay-as-you-go system to a system of private individual accounts in the early 1980s. Several other Latin American ... More


Overview: Lessons from Pension Reform in the Americas *

Stephen J. Kay and Tapen Sinha

in Lessons from Pension Reform in the Americas

Published in print:
2007
Published Online:
January 2008
ISBN:
9780199226801
eISBN:
9780191710285
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199226801.003.0002
Subject:
Business and Management, Pensions and Pension Management

This chapter begins with a brief discussion of the introduction of a state-sponsored pay-as-you-go (PAYGO) pension system in Germany over a century ago, and pension reform in Latin American ... More


Uruguay: A Mixed Reform *

Rodolfo Saldain

in Lessons from Pension Reform in the Americas

Published in print:
2007
Published Online:
January 2008
ISBN:
9780199226801
eISBN:
9780191710285
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199226801.003.0015
Subject:
Business and Management, Pensions and Pension Management

This chapter describes Uruguay's 1995 pension reform, which is based on a multipillar or mixed, system, with contributions and benefits linked to both a state-managed PAYGO system and privately ... More


The Pension System in Argentina

Rafael Rofman

in Lessons from Pension Reform in the Americas

Published in print:
2007
Published Online:
January 2008
ISBN:
9780199226801
eISBN:
9780191710285
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199226801.003.0016
Subject:
Business and Management, Pensions and Pension Management

This chapter discusses pension reform in Argentina. Argentina instituted a major pension reform in 1994 following an extremely serious macroeconomic crisis. Partly inspired by Chile's experience, it ... More


Pension Portfolio Choice and Menu Exposure

Brigitte Madrian, Olivia S. Mitchell, and Beth J. Soldo

in Redefining Retirement: How Will Boomers Fare?

Published in print:
2007
Published Online:
September 2007
ISBN:
9780199230778
eISBN:
9780191710971
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199230778.003.0012
Subject:
Business and Management, Pensions and Pension Management

This chapter evaluates the so-called “Swedish experiment” in 2000, the traditional Swedish pay-as-you-go retirement system was partially replaced by a national defined contribution plan. The question ... More


Performance of Pension Funds

E. Philip Davis

in Pension Funds: Retirement-Income Security and Capital Markets: An International Perspective

Published in print:
1998
Published Online:
March 2012
ISBN:
9780198293040
eISBN:
9780191684944
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198293040.003.0007
Subject:
Economics and Finance, Financial Economics, Public and Welfare

The risk and the rate of return offered to companies and workers that are relative to those obtained from pay-as-you-go schemes comprise the crucial test for the economic efficiency associated with ... More


France: Promoting Funded Pensions in Bismarckian Corporatism?

Marek Naczyk and Bruno Palier

in The Varieties of Pension Governance: Pension Privatization in Europe

Published in print:
2011
Published Online:
May 2011
ISBN:
9780199586028
eISBN:
9780191725586
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199586028.003.0004
Subject:
Political Science, Political Economy

Following the Bismarckian social insurance tradition, the post-war pension system of France has been characterized by occupational fragmentation, its strong reliance on pay-as-you-go financing, and ... More


Pension Strategies in Europe and the United States

Robert Fenge, Georges de Menil, and Pierre Pestieau (eds)

Published in print:
2008
Published Online:
August 2013
ISBN:
9780262062725
eISBN:
9780262272575
Item type:
book
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262062725.001.0001
Subject:
Economics and Finance, Econometrics

This book discusses the demographic challenges facing pension systems in the United States and some developed countries in Europe. Factors affecting the challenges include the speed level of the ... More


Chapter Chapter The Future of Pensions in Canada

Silvana Pozzebon

in Reinventing the Retirement Paradigm

Published in print:
2005
Published Online:
February 2006
ISBN:
9780199284603
eISBN:
9780191603013
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199284601.003.0013
Subject:
Economics and Finance, Financial Economics

This chapter examines the resilience of the two key components of the Canadian retirement income system: the Old Age Security (OAS) program and the compulsory, pay-as-you-go earnings-related scheme. ... More


Poland: Security through Diversity

Jerzy Hausner

in Social Security Pension Reform in Europe

Published in print:
2002
Published Online:
February 2013
ISBN:
9780226241081
eISBN:
9780226241913
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226241913.003.0013
Subject:
Economics and Finance, Public and Welfare

This chapter discusses pension reform in Poland. The program for pension system reform was launched at the beginning of 1997, and emphasized that pension reform must combine a first, pay-as-you-go ... More


Misleading Guides to Pension Design

Nicholas Barr

in The Welfare State as Piggy Bank: Information, Risk, Uncertainty, and the Role of the State

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199246595
eISBN:
9780191595936
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199246599.003.0007
Subject:
Economics and Finance, Public and Welfare

This chapter summarizes core controversies about pensions by focusing on ten persistent myths about pension design that have clouded discussion, many of them centred on the debate about the ... More


Pension Design: The Options

Nicholas Barr

in The Welfare State as Piggy Bank: Information, Risk, Uncertainty, and the Role of the State

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199246595
eISBN:
9780191595936
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199246599.003.0008
Subject:
Economics and Finance, Public and Welfare

This chapter sets out the wide range of options for pension design – funded or Pay‐As‐You‐Go, public or private, defined‐contribution or defined‐benefit – drawing on economic theory, the experience ... More


Facing the Pension Crisis in France

Gordon L. Clark

in Pension Security in the 21st Century: Redrawing the Public-Private Debate

Published in print:
2003
Published Online:
August 2004
ISBN:
9780199261765
eISBN:
9780191601248
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199261768.003.0005
Subject:
Economics and Finance, Financial Economics

This chapter examines the pension problem in France. The French pension situation follows the path of most Bismarckian pension institutions; it has long maintained a relative status quo despite ... More


Pension Payouts in Chile: Past, Present, and Future Prospects

Jose Ruiz and Olivia S. Mitchell

in Securing Lifelong Retirement Income: Global Annuity Markets and Policy

Published in print:
2011
Published Online:
September 2011
ISBN:
9780199594849
eISBN:
9780191729119
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199594849.003.0007
Subject:
Business and Management, Pensions and Pension Management

This chapter reviews recent developments in the payout market for Chilean pensions, focusing particularly on the role of annuities, and illustrates what makes the payout market in Chile so different ... More


Aging, Funded Pensions, and the Dutch Economy

A. Lans Bovenberg and Thijs Knaap

in Pension Strategies in Europe and the United States

Published in print:
2008
Published Online:
August 2013
ISBN:
9780262062725
eISBN:
9780262272575
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262062725.003.0009
Subject:
Economics and Finance, Econometrics

This chapter presents a discussion that seeks to identify through which different channels aging and pensions affect the Dutch economy, how these effects propagate, what the feedback effects are, and ... More


Introduction: Pension Systems in Europe and the United States: The Demographic Challenge

Robert Fenge, Georges de Ménil, and Pierre Pestieau

in Pension Strategies in Europe and the United States

Published in print:
2008
Published Online:
August 2013
ISBN:
9780262062725
eISBN:
9780262272575
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262062725.003.0001
Subject:
Economics and Finance, Econometrics

This introductory chapter begins by discussing the pension crisis in Europe and the United States. It then describes the three parts of the book. The first part focuses on the reform of key ... More


Optimal Response to a Transitory Demographic Shock

Juan C. Conesa and Carlos Garriga

in Pension Strategies in Europe and the United States

Published in print:
2008
Published Online:
August 2013
ISBN:
9780262062725
eISBN:
9780262272575
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262062725.003.0004
Subject:
Economics and Finance, Econometrics

This chapter discusses the optimal response to a transitory demographic shock that negatively affects the financing of retirement pensions. It reveals the increase in the dependency ratio of the ... More


Demographics and the Political Sustainability of Pay-as-You-Go Social Security

Theodore C. Bergstrom and John L. Hartman

in Pension Strategies in Europe and the United States

Published in print:
2008
Published Online:
August 2013
ISBN:
9780262062725
eISBN:
9780262272575
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262062725.003.0005
Subject:
Economics and Finance, Econometrics

This chapter discusses the factors that affect the political support for pay-as-you-go (PAYG) retirement plans in the U.S., including the impact of changes in social security benefits on the value of ... More


Introduction

John Y. Campbell and Martin Feldstein

in Risk Aspects of Investment-Based Social Security Reform

Published in print:
2000
Published Online:
February 2013
ISBN:
9780226092553
eISBN:
9780226092560
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226092560.003.0001
Subject:
Economics and Finance, Economic Systems

The increasing life expectancy in the United States and in other industrial countries is creating a major problem for traditional unfunded social security pension programs. In such pay-as-you-go ... More


The Transition to Investment-Based Social Security When Portfolio Returns and Capital Profitability Are Uncertain

Martin Feldstein, Elena Ranguelova, and Andrew Samwick

in Risk Aspects of Investment-Based Social Security Reform

Published in print:
2000
Published Online:
February 2013
ISBN:
9780226092553
eISBN:
9780226092560
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226092560.003.0003
Subject:
Economics and Finance, Economic Systems

This chapter explores the transition from a pay-as-you-go system of social security pensions to an investment-based system in an economy in which portfolio returns and capital profitability are both ... More


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