Pension Economics / Edition 1

Hardcover (Print)
Buy New
Buy New from
Used and New from Other Sellers
Used and New from Other Sellers
from $55.58
Usually ships in 1-2 business days
(Save 25%)
Other sellers (Hardcover)
  • All (9) from $55.58   
  • New (6) from $55.58   
  • Used (3) from $97.85   


"Given the retirement funding crisis faced by many countries acrossthe globe, this is a must read not only for every pensioneconomist, but also for pension lawyers, pension accountants,retirement plan advisors, investment managers, corporate executivesand pension policy makers."
Professor Shlomo Benartzi, Co-chair of the BehavioralDecision Making Group, The Anderson School, UCLA

Read More Show Less

Editorial Reviews

From the Publisher
"I have never seen such a concise description of pension institutions that was so crystal clear." (Investments & Pensions Europe, February 2007)

"Informative without being patronizing and set out in a logical sequence with each chapter containing questions to help the reader consolidate what they have just learnt." (Pensions Age, December 2006)

"If you are looking for a solid grounding in the theory and practice of economics in relation to pensions this is a vital addition to your bookshelf." (.net, August 2007)

Read More Show Less

Product Details

  • ISBN-13: 9780470058442
  • Publisher: Wiley
  • Publication date: 12/14/2006
  • Edition number: 1
  • Pages: 272
  • Product dimensions: 6.00 (w) x 9.00 (h) x 0.75 (d)

Meet the Author

Dr. DAVID BLAKE is Professor of Pension Economics and Director of the Pensions Institute at Cass Business School, London, and Chairman of Square Mile Consultants, a training and research consultancy. He was formerly Director of the Securities Industry Programme at City University Business School, Research Fellow at both the London Business School and the London School of Economics and Professor of Financial Economics at Birkbeck College, University of London. He is consultant to many organisations, including Merrill Lynch, Deutsche Bank, Union Bank of Switzerland, Paribas Capital Markets, McKinsey & Co., the Office of Fair Trading, the Office for National Statistics, the Government Actuary’s Department, the National Audit Office, the Department for Work and Pensions, HM Treasury, the Bank of England, the Prime Minister’s Policy Directorate and the World Bank. In June 1996, he established the Pensions Institute, which undertakes high-quality research on all pension-related issues and publishes details of its research activities on the internet (

Read More Show Less

Table of Contents


1 Introduction.

1.1 What is pension economics?

1.2 Types of pension scheme.

1.3 Conclusions.

2 Individual Pension Decision Making.

2.1 The lifecycle model.

2.2 Pensions and savings.

2.3 Pensions and retirement decisions.

2.4 Empirical studies testing the validity of the lifecyclemodel.

2.5 The Feldstein lifecycle model with induced retirement.

2.6 Conclusions.

3 Corporate Pension Decision Making.

3.1 The provision of pensions by corporations.

3.2 The role of pensions in employment contracts.

3.3 The nature of corporate pension liabilities.

3.4 Quitting and mandatory retirement.

3.5 Tax and pension fund policy.

3.6 Agency costs in pension schemes and pension funds.

3.7 Conclusions.

4 Pensions in the Diamond–Samuelson OverlappingGenerations Model with Certain Lifetimes.

4.1 The two-period Diamond–Samuelson OLG model.

4.2 Pensions in the Diamond–Samuelson OLG model withexogenous labour supply and retirement.

4.3 PAYG pensions in the Diamond–Samuelson OLG model withendogenous labour supply and retirement.

4.4 Conclusions.

5 Pensions in the Blanchard–Yaari OverlappingGenerations Model with Uncertain Lifetimes.

5.1 The Blanchard–Yaari OLG model with uncertainlifetimes.

5.2 PAYG pensions in the Blanchard–Yaari OLG model withendogenous labour supply and mandatory retirement.

5.3 Conclusions.  

6 The Economics of Ageing and GenerationalAccounting.

6.1 The macroeconomic effects of ageing: Declining populationgrowth and the increasing dependency ratio.

6.2 Pensions in the Diamond–Samuelson OLG model witha variable population growth rate.

6.3 Generational accounting.

6.4 Conclusions.

7 Risk Sharing and Redistribution in Pension Schemes.

7.1 Risks in private pension schemes.

7.2 Risk sharing in personal pension schemes.

7.3 Risk sharing in occupational pension schemes.

7.4 Redistribution in private pension schemes.

7.5 Private sector market failure and the compensating role ofstate pension schemes.

7.6 Risks in state pension schemes.

7.7 Risk sharing in state pension schemes.

7.8 Redistribution in state pension schemes.

7.9 The viability of PAYG state pension systems and thetransition costs to funding.

8 Behavioural Pension Economics.

8.1 The accumulation phase.

8.2 The decumulation phase.

8.3 Conclusions.


Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star


4 Star


3 Star


2 Star


1 Star


Your Rating:

Your Name: Create a Pen Name or

Barnes & Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation


  • - By submitting a review, you grant to Barnes & and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Terms of Use.
  • - Barnes & reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)