Modelling Pension Systems

ANDRÁS SIMONOVITS has worked at the Institute of Economics, Budapest since 1970 and has visited various universities in the US and elsewhere. He has published several scientific papers and two books in English about Control Models, Overlapping Cohorts Models and Pension Modeling. His recent research interests include work on some theoretical and practical issues of pension systems.

• Introduction PART I: MICRO LEVEL Life Cycle Life Insurance with Life Annuity Fully Funded Systems Unfunded Systems Mixed Systems Contributions, Taxes and Inflation PART II: MACRO LEVEL Demographic Processes Macroeconomics of Pension Systems Transition Between Pension Systems Distribution of Pensions PART III: SPECIAL TOPICS Optimal consumption Path Flexible Retirement A Closed Model of Overlapping Cohorts Macroeffects of Combined Indexation

'This is an excellent introduction to the economics of pensions which combines breadth of coverage with analytical rigour. Policymakers, regulators and those in industry with an interest in pension reform should all read this book.' - Mike Orszag, Head of Research, Watson Wyatt, and Chairman of the Research Committee, International Network of Pension Regulators and Supervisors