Credible pensions

Timothy Besley and Andrea Prat

Fiscal Studies, 2005, vol. 26, issue 1, 119-135

Abstract: One of the main problems in pension policy is to develop an institutional framework that guarantees that public and private pensions promises are kept. This paper discusses how the governance of public and private pensions is key to making such promises credible. It argues that credibility concerns undermine the case for earnings-related pensions run by the state and private defined benefit plans.

JEL-codes: G23 H55 (search for similar items in EconPapers)
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:ifs:fistud:v:26:y:2005:i:1:p:119-135

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