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Reforming Public Pensions in the US and the UK

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  • Peter Diamond

Abstract

This essay describes the current debate on reforming Social Security in the US, along with a brief description of how the programme works. Along the way it comments on the quality of some reform proposals as well as their political standing. Where issues are similar, some inferences are drawn for the UK. While the focus of this essay is the political debate, the debate and my analysis do draw on the academic literature, which is not surprising since academics have played a number of roles in the debate, making reform proposals, being on and staffing the commission appointed by President Bush, and working for the Bush administration. Copyright 2006 Royal Economic Society.

Suggested Citation

  • Peter Diamond, 2006. "Reforming Public Pensions in the US and the UK," Economic Journal, Royal Economic Society, vol. 116(509), pages 94-118, February.
    • Handle: RePEc:ecj:econjl:v:116:y:2006:i:509:p:f94-f118
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    References listed on IDEAS

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    1. Peter A. Diamond, 2000. "Administrative Costs and Equilibrium Charges with Individual Accounts," NBER Chapters, in: Administrative Aspects of Investment-Based Social Security Reform, pages 137-172, National Bureau of Economic Research, Inc.
    2. Peter Diamond, 2004. "Social Security," American Economic Review, American Economic Association, vol. 94(1), pages 1-24, March.
    3. Edward M. Gramlich, "undated". "Reforming Social Security?," Pension Research Council Working Papers 95-12, Wharton School Pension Research Council, University of Pennsylvania.
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    Cited by:

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    2. Sanders, Lisanne & De Waegenaere, Anja & Nijman, Theo E., 2013. "When can insurers offer products that dominate delayed old-age pension benefit claiming?," Insurance: Mathematics and Economics, Elsevier, vol. 53(1), pages 134-149.
    3. Burkhard Heer & Vito Polito & Mike Wickens, 2023. "Pension Systems (Un)sustainability and Fiscal Constraints: A Comparative Analysis," Working Papers 2023014, The University of Sheffield, Department of Economics.
    4. Callan, Tim & Keane, Claire & Walsh, John R., 2009. "Pension Policy: New Evidence on Key Issues," Research Series, Economic and Social Research Institute (ESRI), number RS14.
    5. Sanders, E.A.T. & De Waegenaere, A.M.B. & Nijman, T.E., 2010. "When Can Insurers Offer Products That Dominate Delayed Old-Age Pension Benefit Claiming?," Other publications TiSEM ea3f9bbb-92ce-4dfe-a1fe-e, Tilburg University, School of Economics and Management.
    6. Hidalgo, Pedro & Manzur, Enrique & Olavarrieta, Sergio & Fari­as, Pablo, 2008. "Customer retention and price matching: The AFPs case," Journal of Business Research, Elsevier, vol. 61(6), pages 691-696, June.

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    More about this item

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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