Results 211 to 220 of about 8,297 (255)

Pensions and Capital Structure

North American Actuarial Journal, 2004
Abstract This paper considers the pension plan as part of the capital structure of the sponsoring employer. This enables lessons from financial theory concerning capital structure to be used to answer the question, “What assets should a pension fund hold?” The standard Modigliani-Miller framework is expanded on to consider the implications of corporate
John Ralfe, Cliff Speed, Jon Palin
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Pension Fund Capitalism

2022
This book examines the origins and consequences of so-called pension fund capitalism, which has spread around the world since 1981, when the pension system was completely privatized in Chile. The author highlights the driving forces behind the privatization of pensions, its forms and tools used in practice, and the risks and costs related to private ...
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Human capital and pensions with endogenous fertility and retirement

Macroeconomic Dynamics, 2023
AbstractWe study an OLG model with child policies and a PAYG pension with endogenous retirement and fertility. The result of the planned economy is compared to the decentralized competitive equilibrium deriving optimal policies. We show that in the presence of a PAYG pension system, the optimal policy mix includes an education subsidy and a subsidy for
Tamara Fioroni, Giam Pietro Cipriani
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Pension Fund Capitalism

Annals of the Association of American Geographers, 2003
Gordon Clark. New York: Oxford University Press, 2000. xvii and 342 pp., diags., notes, and index. $65.00 cloth (ISBN 0-19-924047-7); $29.95 paper (ISBN 0-19-924048-5).
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Capitalization of the pension system as the main direction of pension reform in Ukraine

Sociology – Social Work and Social Welfare: Regulation of Social Problems (Lviv, May 18–19, 2023): Proceedings of The XIII International Scientific Conference, 2023
Background: The economic and demographic crises burdened by the war create a significant social problem that concerns the pension provision of Ukrainian citizens. In addition, it should be taken into account that 40% of the Pension Fund's expenses are covered by transfers from the state budget.
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Pension systems in integrated capital markets

Topics in Economic Analysis & Policy, 2001
Abstract The paper studies the effects on factor prices and welfare of the integration in a perfect world capital market of countries that differ in the degree of funding of their pension systems. It focuses on two large economies running respectively a pay-as-you-go and a fully funded pension system and it first analyzes the open ...
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Pension funds and capital accumulation [PDF]

Economics Bulletin, 2001
This note presents a model in which pension funds, by holding a signifiant share of capital assets, can exert a non competitive behavior on labor market. This leads to lower wages and higher capital returns, and can reduce capital accumulation and Long-run welfare.
Bertrand Wigniolle, Philippe Michel, Pascal Belan   +2 more
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Pension Reform and Capital Markets: Are There Any (Hard) Links? [PDF]

, 2000
Chilean-style pension reform, leading to the creation of fully-funded privately managed pension systems, may have significant positive direct effects on savings, growth, and welfare. However, the indirect link, via capital market development, may be as important.
Walker, Eduardo, Lefort, Fernando
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Pension Funding and Human Capital

SSRN Electronic Journal, 2011
In this paper we analyze the consequences of pension funding in a general equilibrium model of both formal schooling decisions and on-the-job human capitalformation a la Heckman, Lochner and Taber (1998). Our focus lies on the distortive and redistributive effects of a Bismarckian pension system as well as the macroeconomic and welfare consequences of ...
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Pension Exclusion in Grey Capitalism: Mapping the Pensions Gap in Britain

Transactions of the Institute of British Geographers, 2000
The switch in Britain's pension policy towards private funded schemes and a liberal style of state regulation have exposed variations in individuals’ ability and willingness to undertake pensions saving. This paper focuses on the patterns of exclusion and the geographies of pension consumption created by this reform.
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