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Private Pensions and Public Pensions: Theory and Fact

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  • 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?

Suggested Citation

  • Alan S. Blinder, 1982. "Private Pensions and Public Pensions: Theory and Fact," NBER Working Papers 0902, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:0902
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    References listed on IDEAS

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    1. Roger H. Gordon & Alan S. Blinder, 1980. "Market Wages, Reservation Wages, and Retirement Decisions," NBER Chapters, in: Econometric Studies in Public Finance, pages 277-308, National Bureau of Economic Research, Inc.
    2. Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-491, June.
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    Cited by:

    1. Alan L. Gustman & Thomas L. Steinmeier, 1983. "Social Security Reform and Labor Supply," NBER Working Papers 1212, National Bureau of Economic Research, Inc.
    2. Laurence J. Kotlikoff & David A. Wise, 1988. "Pension Backloading, Wage Taxes, and Work Disincentives," NBER Chapters, in: Tax Policy and the Economy: Volume 2, pages 161-196, National Bureau of Economic Research, Inc.
    3. repec:eee:labchp:v:1:y:1986:i:c:p:305-355 is not listed on IDEAS
    4. José Luis Iparraguirre, 2020. "Economics and Ageing," Springer Books, Springer, number 978-3-030-29019-1, December.
    5. Gustman, Alan L & Steinmeier, Thomas L, 1986. "A Structural Retirement Model," Econometrica, Econometric Society, vol. 54(3), pages 555-584, May.
    6. Paul Taubman, 1985. "Determinants of Pension Benefits," NBER Chapters, in: Pensions, Labor, and Individual Choice, pages 123-158, National Bureau of Economic Research, Inc.
    7. Lex Borghans & Ben Kriechel, 2009. "Wage Structure and Labor Mobility in The Netherlands, 1999-2003," NBER Chapters, in: The Structure of Wages: An International Comparison, pages 125-148, National Bureau of Economic Research, Inc.
    8. Neumark, David & Taubman, Paul, 1995. "Why Do Wage Profiles Slope Upward? Tests of the General Human Capital Model," Journal of Labor Economics, University of Chicago Press, vol. 13(4), pages 736-761, October.
    9. Alan L. Gustman & Thomas L. Steinmeier, 1983. "Retirement Flows," NBER Working Papers 1069, National Bureau of Economic Research, Inc.
    10. Axel West Pedersen & Jon M Hippe & Anne Skevik Grødem & Ole Beier Sørensen, 2018. "Trade unions and the politics of occupational pensions in Denmark and Norway," Transfer: European Review of Labour and Research, , vol. 24(1), pages 109-122, February.
    11. R. Montizaan & F. Cörvers & A. de Grip, 2013. "Training and retirement patterns," Applied Economics, Taylor & Francis Journals, vol. 45(15), pages 1991-1999, May.
    12. Gustman, A.L. & Mitchell, O.S. & Steinmeier, T.L., 1993. "The Role of Pensions in the Labor Market," Papers 93-07, Cornell - Center for Advanced Human Resource Studies.
    13. Richard A. Ippolito, 1983. "Public Policy Towards Private Pensions," Contemporary Economic Policy, Western Economic Association International, vol. 1(3), pages 53-76, April.
    14. Fauvel, Yves, 1985. "Théorie du cycle de vie et rentes publiques," L'Actualité Economique, Société Canadienne de Science Economique, vol. 61(2), pages 220-238, juin.
    15. Myles, John, 2000. "The Maturation of Canada's Retirement Income System: Income Levels, Income Inequality and Low Income Among the Elderly," Analytical Studies Branch Research Paper Series 2000147e, Statistics Canada, Analytical Studies Branch.
    16. Alicia H. Munnell & Frederick O. Yohn, 1991. "What is the impact of pensions on saving?," Working Papers 91-5, Federal Reserve Bank of Boston.
    17. David T. Ellwood, 1985. "Pensions and the Labor Market: A Starting Point (The Mouse Can Roar)," NBER Chapters, in: Pensions, Labor, and Individual Choice, pages 19-54, National Bureau of Economic Research, Inc.
    18. Nicole Bosch & Casper Ewijk & Maja Micevska Scharf & Sander Muns, 2022. "The Incidence of Pension Contributions: A Panel Based Analysis of the Impact of Pension Contributions on Labor Cost, Wages and Labor Supply," De Economist, Springer, vol. 170(1), pages 107-132, February.
    19. Ghilarducci, Teresa & Reich, Michael, 1998. "Training and Pensions: Substitutes or Complements?," Institute for Research on Labor and Employment, Working Paper Series qt2xq878qt, Institute of Industrial Relations, UC Berkeley.
    20. David A. Matsa, 2018. "Capital Structure and a Firm’s Workforce," NBER Working Papers 25125, National Bureau of Economic Research, Inc.
    21. Edward P. Lazear, 1984. "Social Security and Pensions," NBER Working Papers 1322, National Bureau of Economic Research, Inc.

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