6. Investing for the Short and the Long Term

Chapters in this book

1. Frontmatter i
2. Relation of the Directors to the Work and Publications of the National Bureau of Economic Research vi
3. Contents vii
4. Acknowledgments ix
5. Introduction 1
6. 1. Who Owns the Assets in a Defined-Benefit Pension Plan? 17
7. 2. Economic Implications of ERISA 37
8. 3. Pensions as Severance Pay 57
9. 4. Optimal Funding and Asset Allocation Rules for Defined-Benefit Pension Plans 91
10. 5. Pension Funding, Pension Asset Allocation, and Corporate Finance: Evidence from Individual Company Data 107
11. 6. Investing for the Short and the Long Term 153
12. 7. Pension Funding Decisions, Interest Rate Assumptions, and Share Prices 177
13. 8. Should Private Pensions Be Indexed? 211
14. 9. Observations on the Indexation of Old Age Pensions 231
15. 10. On Consumption Indexed Public Pension Plans 259
16. 11. Retirement Annuity Design in an Inflationary Climate 291
17. 12. On the Role of Social Security as a Means for Efficient Risk Sharing in an Economy Where Human Capital Is Not Tradable 325
18. 13. The Economic Status of the Elderly 359
19. 14. Portfolio Composition and Pension Wealth: An Econometric Study 399
20. Contributors 441
21. Author Index 445
22. Subject Index 447