Rethinking pension reform / Franco Modigliani, Arun Muralidhar.

Format:

Book

Author/Creator:

Modigliani, Franco, author.

Muralidhar, Arun S., author.

Language:

English

Subjects (All):

Pension trusts.

Social security.

Pension trusts--Cross-cultural studies.

Physical Description:

1 online resource (xv, 247 pages) : digital, PDF file(s).

Edition:

1st ed.

Place of Publication:

Cambridge : Cambridge University Press, 2004.

Language Note:

English

Summary:

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.

Contents:

A Tribute to Franco

A Primer on Pension Reform

A Taxonomy of Pension Reform Issues

An Evaluation of Pension Reforms

Welfare Costs of Defined Contribution Schemes

The Transition from PAYGO to Funding with a Common Portfolio: Application to the United States

Social Security Reform in Spain

The "Two-Pension Fund" Theorem

The Case for Mixed Systems and Variable Contributions: Improving the Performance of Pension Systems.

Notes:

Title from publisher's bibliographic system (viewed on 05 Oct 2015).

Includes bibliographical references (p. 225-233) and index.

ISBN:

1-107-16100-2

1-280-54081-8

0-511-21540-1

0-511-21719-6

0-511-21182-1

0-511-31580-5

0-511-51094-2

0-511-21359-X

OCLC:

171139146