Working Paper: NBER ID: w0902
Authors: Alan S. Blinder
Abstract: An economic theory of public and private pensions is developed, and the implications of the theory are compared with some empirical evidence, of both the econometric and casual varieties. Among the questions addressed are: why are there private pensions? why have they grown so rapidly in recent decades? why do they have the particular features that they do? why does the government intervene by regulating the provisions of private pensions and mandating a public pension system? what are the effects of private and public pensions on savings and retirement decisions?
Keywords: pensions; public pensions; private pensions; retirement; savings
JEL Codes: H55; J32
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| capital market imperfections (G19) | demand for pensions (J26) |
| tax policy (H20) | pension growth (H55) |
| pensions (H55) | labor mobility (J62) |
| pensions (H55) | retirement decisions (J26) |
| growth of private pensions (H55) | savings and retirement decisions (D14) |