Pension Economics

Preface.
<p>1 Introduction.</p>
<p>1.1 What is pension economics?</p>
<p>1.2 Types of pension scheme.</p>
<p>1.3 Conclusions.</p>
<p>2 Individual Pension Decision Making.</p>
<p>2.1 The lifecycle model.</p>
<p>2.2 Pensions and savings.</p>
<p>2.3 Pensions and retirement decisions.</p>
<p>2.4 Empirical studies testing the validity of the lifecycle model.</p>
<p>2.5 The Feldstein lifecycle model with induced retirement.</p>
<p>2.6 Conclusions.</p>
<p>3 Corporate Pension Decision Making.</p>
<p>3.1 The provision of pensions by corporations.</p>
<p>3.2 The role of pensions in employment contracts.</p>
<p>3.3 The nature of corporate pension liabilities.</p>
<p>3.4 Quitting and mandatory retirement.</p>
<p>3.5 Tax and pension fund policy.</p>
<p>3.6 Agency costs in pension schemes and pension funds.</p>
<p>3.7 Conclusions.</p>
<p>4 Pensions in the Diamond Samuelson Overlapping Generations Model with Certain Lifetimes.</p>
<p>4.1 The two–period Diamond Samuelson OLG model.</p>
<p>4.2 Pensions in the Diamond Samuelson OLG model with exogenous labour supply and retirement.</p>
<p>4.3 PAYG pensions in the Diamond Samuelson OLG model with endogenous labour supply and retirement.</p>
<p>4.4 Conclusions.</p>
<p>5 Pensions in the Blanchard Yaari Overlapping Generations Model with Uncertain Lifetimes.</p>
<p>5.1 The Blanchard Yaari OLG model with uncertain lifetimes.</p>
<p>5.2 PAYG pensions in the Blanchard Yaari OLG model with endogenous labour supply and mandatory retirement.</p>
<p>5.3 Conclusions.&nbsp;&nbsp;</p>
<p>6 The Economics of Ageing and Generational Accounting.</p>
<p>6.1 The macroeconomic effects of ageing: Declining population growth and the increasing dependency ratio.</p>
<p>6.2 Pensions in the Diamond Samuelson&nbsp;OLG model with a variable population growth rate.</p>
<p>6.3 Generational accounting.</p>
<p>6.4 Conclusions.</p>
<p>7 Risk Sharing and Redistribution in Pension Schemes.</p>
<p>7.1 Risks in private pension schemes.</p>
<p>7.2 Risk sharing in personal pension schemes.</p>
<p>7.3 Risk sharing in occupational pension schemes.</p>
<p>7.4 Redistribution in private pension schemes.</p>
<p>7.5 Private sector market failure and the compensating role of state pension schemes.</p>
<p>7.6 Risks in state pension schemes.</p>
<p>7.7 Risk sharing in state pension schemes.</p>
<p>7.8 Redistribution in state pension schemes.</p>
<p>7.9 The viability of PAYG state pension systems and the transition costs to funding.</p>
<p>8 Behavioural Pension Economics.</p>
<p>8.1 The accumulation phase.</p>
<p>8.2 The decumulation phase.</p>
<p>8.3 Conclusions.</p>
<p>Index.</p>