This 2006 book treats two vital public policy issues: how should distributions from individual
accounts be regulated, and how can the market for private annuities function better? It …

This paper looks at the dramatic decline in global real interest rates in recent years from a
historical perspective and examines the various factors that may account for this trend. We …

Annuity premiums are often assumed to be constant, although they can be expected to vary
with the yield curve. Variations in premiums will become an important public policy issue as …

The United States and most other industrialized nations have multi-pillar retirement systems
that fit within the World Bank’s multi-pillar model for retirement savings consisting of a first-…

Many quantitative empirical studies of retirement preparedness find that a substantial
number of US households face a potential financial crisis at some point in the future. This …

Two recent criticisms of summary fiscal indicators are appraised: first, that they and the
conventionally-measured public sector balances from which they are derived are not sufficiently …

[...] two T-shirts might be preferred to one long-sleeve sport shirt, but not to two long-sleeve
shirts.[...] we commit confidence errors, which can take several forms, as for example when …

This book is a concise survey of the development of US long-term care and its financing,
with comparisons with other rich countries. It also includes a brief comparative account of the …

… George A. (Sandy) Mackenzie is Senior Strategic Policy Advisor in the Public Policy Institute
of AARP in Washington, DC. A Rhodes Scholar, he spent 28 years with the International …

The subject of our essay is the impact of educational and labor market discrimination on
differences in income and wealth across races and ethnicities. The disparities across the racial …