Besley, Timothy and Prat, Andrea (2004) Credible pensions. Financial Markets Group Discussion Papers (525). Financial Markets Group, The London School of Economics and Political Science, London, UK.
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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.
| Item Type: | Monograph (Discussion Paper) |
|---|---|
| Official URL: | http://fmg.ac.uk |
| Additional Information: | © 2004 The Authors |
| Divisions: | Financial Markets Group |
| Subjects: | H Social Sciences > HG Finance H Social Sciences > HB Economic Theory |
| JEL classification: | G - Financial Economics > G2 - Financial Institutions and Services > G23 - Pension Funds; Other Private Financial Institutions |
| Date Deposited: | 12 Aug 2009 09:32 |
| Last Modified: | 15 Sep 2023 22:58 |
| URI: | http://eprints.lse.ac.uk/id/eprint/24822 |
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