Overview

Public and private pensions control almost a quarter of the United States' tangible wealth-equivalent to all of the country's residential real estate. They account for most current saving in the country, and they are a crucial component of household retirement resources, and have significant effects on labour market mobility and efficiency. Collectively, they hold a tremendous proportion of all common stock. The stock market has boomed during the 1990s, as baby boomers have rapidly accumulated pension assets. Now economists are starting to wonder what will happen when the baby boomers retire. It is already clear that the Social Security system will require drastic changes to remain solvent. Will the stock market experience a similar meltdown as baby boomers withdraw their assets from pension plans? What policies might help to avoid such a crisis? According to Schieber and Shoven, pension policy will emerge as one of the key economic issues of the early 21st century. This book provides a guide to the debate. Topics include: the impact of pensions on personal and national saving; the potential for a Pension Benefit Guarantee Corporation financial crisis; the dramatic growth in 401(k) plans; public sector plants; the prospects for adequate retirement income in the future; and recommended directions for pension policies. The book contains ten chapters, four written by Schieber and Shoven. The remaining contributors are Robert Clark, Ping-Lung Hsin, Olivia Mitchell, James Poterba, Andrew Samwick, Jonathan Skinner, Steven Venti, Carolyn Weaver, David Wise, and Elisa Wolper.

Full Product Details

Author:   Sylvester Schieber ,  John B. Shoven
Publisher:   MIT Press Ltd
Imprint:   MIT Press
Dimensions:   Width: 16.00cm , Height: 3.40cm , Length: 22.90cm
Weight:   0.658kg
ISBN:  

9780262193870

ISBN 10:   0262193876
Pages:   350
Publication Date:   08 December 1997
Recommended Age:   From 18
Audience:   College/higher education ,  Professional and scholarly ,  Undergraduate ,  Postgraduate, Research & Scholarly
Format:   Hardback
Publisher's Status:   No Longer Our Product
Availability:   Out of stock  
The supplier is temporarily out of stock of this item. It will be ordered for you on backorder and shipped when it becomes available.

Table of Contents

The economics of US retirement policy - current status and future directions, Sylvester J. Schieber, John B. Shoven; Pension tax expenditure - magnitude, distribution, and economic effects, Robert L. Clark, Elisa Wolper; The wealth of cohorts - retirement saving and the changing assets of older Americans, Steven F. Venti, David A. Wise; Government guarantees of private pension benefits - current problems and market-based solutions, Carolyn L. Weaver; The growth of 401(k) plans - evidence and implications, James M. Poterba; Abandoning the nest egg? 401(k) plans and inadequate pension saving, Andrew Samwick, Jonathan Skinner; The consequences of population ageing on private pension fund saving and asset markets, sylvester J. Schieber, John B. Shoven; Managing public-sector pensions, Ping-Lung Hsin, Olivia S. Mitchell; Retirement income adequacy at risk - baby boomers' projects in the new millennium, Sylvester J. Schieber; Policy directions for pensions, Sylvester J. Schieber, John B. Shoven.

Reviews

Author Information

Tab Content 6

Author Website:  

Countries Available

All regions