The economics of pensions : principles, policies and international experience / edited by Salvador Valdés-Prieto.

Acknowledgments ix List of Contributors xi 1. Introduction and overview page / Salvador Valdes-Prieto, 1 -- Part 1. The politics of mandatory pensions -- 2. Insulation of pensions from political risk / Peter Diamond, 33 -- 3. Democracy and pensions in Chile: Experience with two systems / Oscar Godoy and Salvador Valdés-Prieto, 58 -- 4. Public pension governance and performance / Olivia S. Mitchell and Ping-Lung Hsin, 92 -- Part II. Fiscal deficits and private saving in pension reform -- 5. Pension reform and growth / Giancarlo Corsetti and Klaus Schmidt-Hebbel, 127 -- 6. Transitions in the presence of credit constraints / Rodrigo Cifuentes and Salvador Valdés-Prieto, 160 -- 7. Financing a pension reform toward private funded pensions / Salvador Valdés-Prieto, 190 -- Part III. Macroeconomic policy and private pensions -- 8. Pension funds, capital controls, and macroeconomic stability / Helmut Reisen and John Williamson, 227 -- 9. Are there (good) macroeconomic reasons for limiting external investments by pension funds? The Chilean experience / Juan Andres Fontaine, 251 -- Part IV. Policy and regulation of pension systems -- 10. Pension choices and pensions policy in the United Kingdom -- David Blake, 277 -- 11. Mandatory retirement saving: Australia and Malaysia compared / Hazel Bateman and John, 318 -- 12. Public pension plans in international perspective: Problems, reforms, and research issues / Estelle James, 350 -- Index, 371.