The PBGC: A Costly Lesson in the Economics of Federal Insurance

Kathleen P. Utgoff and Zvi Bodie

Chapter 7 in Government Risk-Bearing, 1993, pp 145-166 from Springer

Abstract: Abstract The inherent conflict created by federal insurance programs is the tension between compassion and productivity—the struggle to compensate people who suffer losses without destroying the incentives that create wealth. An analysis of the Pension Benefit Guaranty Corporation (PBGC) illustrates how difficult this struggle can be.

Keywords: Pension Fund; Pension Plan; Pension Benefit; Exercise Price; Funding Ratio (search for similar items in EconPapers)
Date: 1993
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-94-011-2184-2_7

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DOI: 10.1007/978-94-011-2184-2_7

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