This study book on principles and policy choices in pension systems was written by Nicholas Barr and Peter Diamond. It addresses the economic foundations of mandatory pensions, a worldwide phenomenon, and discusses why existing systems need to be revised in light of trends such as falling mortality, lower fertility, and earlier retirement.
The book analyzes pension schemes from multiple objectives: income redistribution, insurance, poverty alleviation, and redistribution. The authors emphasize the importance of a second-best context due to imperfect information and incomplete markets. They also highlight risk sharing and distributional consequences across different pension models, with attention to PAYG and funded systems.
Product information
- Author: Nicholas Barr (Professor of Public Economics, London School of Economics)
- Publisher: Oxford University Press Inc
- Publication date: October 23, 2008
- Number of pages: 368
- ISBN: 9780195311303
- Subject: Finance and accounting
- BISAC: BUSINESS & ECONOMICS / Accounting / General
In addition to economic principles, the book also focuses on implementation and international experiences, with particular emphasis on countries such as Chile and China. Nicholas Barr is an expert in public economics and pension reform, while Peter Diamond, a renowned economist, has a long track record in pension policy and social insurance research.