This chapter reviews the theoretical and empirical issues dealing with Social Security
pensions. The first part of the chapter discusses pure pay-as-you-go plans. It considers the …

The paper provides a critical review of empirical findings on the performance of mutual
funds, mainly for the US and UK. Ex‐post, there are around 0‐5% of top performing UK and …

This article, sets out a series of principles for pension design rooted in economic theory:
pension systems have multiple objectives, analysis should consider the pension system as a …

Printed on Demand. Limited stock is held for this title. If you would like to order 30 copies or
more please contact books@ worldbank. org Contact books@ worldbank. org, if currently …

This paper examines the impact of old-age pension systems and other social transfer
programmes on the retirement decision of older males in OECD countries. For each of the …

Empirical analysis of two decades of pioneering pension and social security reform in Latin
America and the Caribbean shows that much has been achieved, but that critical challenges …

América Latina y el Caribe (ALC) ha reducido su desigualdad y su pobreza, y enfrenta las
próximas décadas con mayor optimismo que en el pasado. Conforme la región crece …

1. Economists and policymakers increasingly use the word “actuarial” in the analysis of
pension systems and retirement incentives. But the debate is often confused.“Actuarial …

I frequently find economists who express a view of the system that is very far from mine. For
example, many young economists and economics students say that they expect to get no …

Many studies describe the potentially adverse impact on employment of the payroll costs of
financing public pension programmes. Conventionally, empirical studies treat contributions …