(UBS Pensions Series 030) Credible Pensions

Andrea Prat
Authors registered in the RePEc Author Service: Timothy Besley

FMG Discussion Papers from Financial Markets Group

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.

Date: 2004-12
New Economics Papers: this item is included in nep-fin
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Persistent link: https://EconPapers.repec.org/RePEc:fmg:fmgdps:dp525

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