Prior studies disagree regarding the effectiveness of financial literacy programs, especially those offered in the workplace. To explain such measurement differences in evaluation and outcomes, we employ a stochastic life cycle model with endogenous financial knowledge accumulation to...

The author examines the relationship between public sector pension plan performance and management practices to improve the design and governance of public pensions in developing countries. Understanding this relationship is important because better yields on public pension plan investment...

Fiscal problems are prompting many developing nations to amend and sometimes restructure their national old-age programs. As they do, these countries seek guidance on how to design market and regulatory structures to enhance their chances of success. This paper investigates the types of risks...

Prior studies disagree regarding the effectiveness of financial literacy programs, especially those offered in the workplace. To explain such measurement differences in evaluation and outcomes, we employ a stochastic life cycle model with endogenous financial knowledge accumulation to...

In multiple-pillar retirement systems, the government provision of old-age income support plays a very different role from vehicles for encouraging private retirement savings - and for the government regulation and insurance of private savings. Despite the diversity of public and private...