Disability, capacity for work and the business cycle: An international perspective (2009)
Benítez-Silva, Hugo, Disney, Richard, Jimenez-Martin, Sergi
An important policy issue in recent years concerns the number of people claiming disability benefits for reasons of incapacity for work. We distinguish between 'work disability', which may have its...
Disability, Capacity for Work and the Business Cycle: An International Perspective (2009)
Benítez-Silva, Hugo, Disney, Richard, Jiménez Martín, Sergi
An important policy issue in recent years concerns the number of people claiming disability benefits for reasons of incapacity for work. We distinguish between 'work disability', which may have its...
Disability, capacity for work and the business cycle: An international perspective (2009)
Benítez-Silva, Hugo, Disney, Richard, Jiménez Martín, Sergi
An important policy issue in recent years concerns the number of people claiming disability benefits for reasons of incapacity for work. We distinguish between �work disability�, which may have...
The Abolition of the Earnings Rule for UK Pensioners (2007)
Richard Disney, Richard Disney, Sarah Tanner, Sarah Tanner
The US has legislated to abolish its social security earnings test. A priori it is not possible to predict the effect this will have on work incentives. Using data from the Family Expenditure Survey...
Privatization and Strategic Monitoring with Gaussian Priors. (2007)
Richard Disney, Christopher J. Ellis, Bulent Nomer, Jel Classi…cation L
This paper describes the sale and optimal regulation of a sequence of public utilities, where monitoring of regulatory compliance is costly. The government is concerned with the revenue raised by...
The internationalisation of public welfare policy (2005)
Banks, James, Disney, Richard, Duncan, Alan, Van Reenen, John
The internationalisation of public welfare policy (2005)
Banks, James, Disney, Richard, Duncan, Alan, Van Reenen, John
The internationalisation of public welfare policy (2005)
Banks, James, Disney, Richard, Duncan, Alan, Van Reenen, John
The internationalisation of public welfare policy (2004)
Banks, James, Disney, Richard, Duncan, Alan, Van Reenen, John
With increasing globalisation of knowledge, there are increased opportunities to 'learn' from the experience of policy interventions elsewhere. This paper presents evidence on the extent of...
The internationalisation of public welfare policy (2004)
Banks, James, Disney, Richard, Duncan, Alan, Van Reenen, John
With increasing globalisation of knowledge, there are increased opportunities to 'learn' from the experience of policy interventions elsewhere. This paper presents evidence on the extent of...
The internationalisation of public welfare policy (2004)
Banks, James, Disney, Richard, Duncan, Alan, Van Reenen, John
With increasing globalisation of knowledge, there are increased opportunities to 'learn' from the experience of policy interventions elsewhere. This paper presents evidence on the extent of...
The economic well-being of older people in international perspective: a critical review (2002)
Disney, Richard, Whitehouse, Edward
This paper surveys a dozen international comparative studies of poverty, income distribution and older people in industrialized countries using data up to the mid-1990s. It addresses a series of...
The economic well-being of older people in international perspective: a critical review (2002)
Disney, Richard, Whitehouse, Edward
This paper surveys a dozen international comparative studies of poverty, income distribution and older people in industrialized countries using data up to the mid-1990s. It addresses a series of...
Cross-country comparisons of pensioners’ incomes (2001)
Disney, Richard, Whitehouse, Edward
This report surveys a dozen international comparative studies of poverty, income distribution and the elderly in OECD countries. It updates a previous Department of Social Security report —...
Pension plans and retirement incentives (1999)
Disney, Richard, Whitehouse, Edward
The object of this paper is to examine the impact of type of pension scheme on retirement behaviour. The well-documented decline in the labour-force participation of older women and older men (in...
Pensions policy in the UK: An economic analysis (1994)
Dilnot, Andrew, Disney, Richard, Johnson, Paul, Whitehouse, Edward
An attempt to unravel the complexities of pension policy in the UK, including financial, fiscal, labour-market and income-distribution analyses of the retirement-income system. This book, drawing on...
The personal pensions stampede (1992)
Disney, Richard, Whitehouse, Edward
While personal-pension mis-selling dominated the headlines, just as costly was the over-compensation offered to younger workers to contract out of the state scheme into personal pensions. The...
What are pension plan entitlements worth in Britain?
Richard Disney, Edward Whitehouse
No Abstract available
Choice of private pension plan and pension benefits in the UK
Richard Disney, Edward Whitehouse
No Abstract available
The choice of private pension plans under uncertainty
Agar Brugiavini, Richard Disney
Individuals in the UK now face an effective choice between joining different types of pension plan. We model this choice in a life cycle utility- maximising framework, for risk averse individuals. It...
Housing assets and savings behaviour among the elderly in Great Britain
Richard Disney, Thomas Gallagher, Andrew Henley
The modern life cycle theory of consumption predicts dissaving of assets during retirement. But evidence suggests that dissaving occurs at a relatively slow rate, so that many households bequeath...
Why is there a decline in defined benefit pension plan membership in Britain?
The paper compares the change in pension plan coverage in the 1980s in the US and the UK. Like the US, the UK has seen a decline in pension plan membership among men, a growth in the use of defined...
High effective tax rates on work at and around state pension age deter participation. An example is the ‘earnings test’ operating in several OECD countries. The United States abolished its test...
The Internationalisation of Public Welfare Policy
James Banks, Richard Disney, Alan Duncan, John Van Reenen
With increasing globalisation of knowledge, there are increased opportunities to 'learn' from the experience of policy interventions elsewhere. This paper presents evidence on the extent of...
Pension Provision and Retirement Saving: Lessons from the United Kingdom
Richard Disney, Carl Emmerson, Matthew Wakefield
We describe the trajectory of pension reform in the United Kingdom, which has focussed on keeping the cost of public pension programmes down during a period of steady population ageing whilst...
Household Saving Rates and the Design of Social Security Programmes: Evidence from a Country Panel
I argue that the offsetting effect of social security contributions on household retirement saving depends on how closely the social security programme imitates a private retirement saving plan (i.e....
The United Kingdom's pension program
Social security ; Saving and investment ; Retirement
House Price Shocks, Negative Equity and Household Consumption in the UK in the 1990s
Disney, Richard, Andrew Henley, David Jevons
We examine the impact of housing capital gains on savings behaviour during the 1990s British housing market cycle using microdata from the British Household Panel Survey and county-level house price...
Restructuring and productivity growth in uk manufacturing
Richard Disney, Jonathan Haskel, Ylva Heden
We analyse productivity growth in UK manufacturing 1980-92 using the newly available ARD panel of establishments drawn from the Census of Production. We examine the contribution to productivity...
What Can We Learn from Generational Accounts for the United Kingdom?
Banks, James, Disney, Richard, Smith, Zoe
This paper considers the relevance of a set of generational accounts in informing policy debate in the UK. With regard to transparency, Generational Accounts can, under sensible assumptions, provide...
Crises in Public Pension Programmes in OECD: What Are the Reform Options?
The paper examines projections of the fiscal liabilities of public pension programmes in a number of OECD countries. It investigates the reasons why many countries have built up such liabilities in...
Why Are There So Many Long Term Sick in Britain?
This paper examines the upward trend of numbers in receipt of Invalidity Benefit (the major contributory benefit for the long-term sick) in Britain since 1971. Possible explanations include the...
Unlike many tax and benefit changes, reforms to public pension programmes take many years to have their full effect. This paper examines the effect of reforms to the public pension programme in the...
Does it pay to work in the public sector?
Richard Disney, Amanda Gosling
This paper uses microeconomic data from the British Household Panel and General Household Surveys to describe how the distribution of pay differs between the public and private sectors in 1983 and in...
Asset wealth and asset decumulation among households in the Retirement Survey
Richard Disney, Paul Johnson, Gary Stears
This paper examines the asset positions of households at and around retirement in Britain using the Retirement Survey ‘waves’ of 1988-89 and 1994. The data provide the first panel evidence on...
Occupational pension schemes: prospects and reforms in the UK
Private pensions seem likely to provide the dominant source of income for the majority of retired workers in the future. New private pension instruments developed since 1986, notably personal...
The difficulties encountered in forecasting social security expenditure (significantly underpredicted for much of the 1980s) have long been a source of concern-not least to officials in the DSS....
Pensions Schemes after the 1989 Budget
The Social Security Act 1986 allowed a wider range of pension schemes to contract out of the state earnings-related pension scheme (SERPS). Individuals now have a good idea of choice concerning their...
Market efficiency before and after the crash
The worldwide stock market crashes of October 1987 were a cause of major public concern at the time, because of the natural fear that they would be followed by economic collapse, as was the case in...
Ill health and retirement in Britain: a panel data based analysis
Richard Disney, Carl Emmerson, Matthew Wakefield
We examine the role of ill-health in retirement decisions in Britain, using the first eight waves of the British Household Panel Survey (1991-98). As self-reported health status is likely to be...
Choice of pension scheme and job mobility in Britain
This paper examines the choice of pension scheme and job mobility in Britain. Workers in Britain can choose to belong wholly to the social security (public pension) programme, or to a...
The abolition of the earnings rule for UK pensioners
The US has legislated to abolish its social security earnings test. A priori it is not possible to predict the effect this will have on work incentives. Using data from the Family Expenditure Survey...
Individual choice of pension arrangement as a pension reform strategy
Richard Disney, Robert Palacios, Edward Whitehouse
The paper examines social security (public pension) reforms in which the programme is partially shifted from a public unfunded basis to a private, prefunded, basis. It focuses on reforms where...
What can we learn from retirement expectations data?
This paper analyses retirement expectations and outcomes using the two waves of the UK Retirement Survey, undertaken in 1988-89 and 1994. We argue that responses to questions on expectations are not...
British unions in decline: an examination of the 1980s fall in trade union recognition
Richard Disney, Amanda Gosling, Stephen Machin
No Abstract available
Entry, Exit and Establishment Survival in UK Manufacturing
Richard Disney, Jonathan Haskel, Ylva Heden
We study entry, exit and survival of UK manufacturing establishments from 1986 to 1991 using the newly released ARD database. We document patterns of entry and exit across industries and over time....
Contracting-Out and Lifetime Redistribution in the UK State Pension System.
Disney, Richard, Whitehouse, Edward
The redistributive potential of state intervention is limited by the ability of individuals to contract-out of public provision. This issue is examined in the context of the UK pension scheme, using...
What Are Occupational Pension Plan Entitlements Worth in Britain?
Disney, Richard, Whitehouse, Edward
The acquisition of rights by workers in private pension plans underpins retirement behavior, recruitment policy, and wage structure but there is controversy as to how these individual pension rights...
What Has Happened to Union Recognition in Britain?
Disney, Richard, Gosling, Amanda, Machin, Stephen
This paper examines the determinants of establishment-level union recognition status using data from the three Workplace Industrial Relations Surveys of 1980. 1984 and 1990. Our theoretical approach...
The Earnings-Related State Pension, Indexation and Lifetime Redistribution in the U.K.
Creedy, John, Disney, Richard, Whitehouse, Edward
The redistributive impact of the U.K. state pension scheme is examined. Benefit-cost ratios are calculated using individual lifetime earnings profiles constructed for a cohort of men drawn from...
Public Pension Reform in Europe: Policies, Prospects and Evaluation
This paper describes the demographic and economic factors underlying the reform of public pension programmes in Europe. It examines the policy response, both at the Europe-wide level and within...
The "Twin-Pillar" Approach to Social Insurance in the UK.
This paper considers the recent shift towards private provision of social security in the United Kingdom, as part of the "twin-pillar" approach of the Conservative government. Emphasis is on the...
Changing public sector wage differentials in the UK
Richard Disney, Amanda Gosling
The paper estimates public sector wage differentials and their changes over time for men and women in the United Kingdom using panel data from the New Earnings Survey/Annual Survey of Hours and...
Housing Wealth and Household Indebtedness: Is there a Household 'Financial Accelerator'?
Richard Disney, Sarah Bridges, John Gathergood
The 'financial accelerator' model when applied to households states that shocks to household balance sheets (primarily changes in house prices) amplify fluctuations in consumer spending by tightening...
Richard Disney, Carl Emmerson, Matthew Wakefield
Faced with ageing populations, OECD governments are seeking policies to increase individual retirement saving. In April 2001, the UK government introduced Stakeholder Pensions - a low cost retirement...
What is a public sector pension worth?
Richard Disney, Carl Emmerson, Gemma Tetlow
We measure accruals in defined benefit (DB) pension plans for public and private sector workers in Britain, using typical differences in scheme rules and sector-specific lifetime age-earnings...
British unions in decline: The determinants of the 1980s fall in union recognition.
Richard Disney, Stephen Machin, Amanda Gosling
This examination of establishment-level data from the Workplace Industrial Relations Surveys of 1980, 1984, and 1990 shows that the proportion of British establishments (that is, workplaces in both...
British unions in decline: The determinants of the 1980s fall in union recognition.
Richard Disney, Stephen Machin, Amanda Gosling
This examination of establishment-level data from the Workplace Industrial Relations Surveys of 1980, 1984, and 1990 shows that the proportion of British establishments (that is, workplaces in both...
High effective tax rates on work at and around state pension age deter participation. An example is the "earnings test" operating in several OECD countries. The United States abolished its test for...
Job Tenure and Asset Holdings.
Henley, Andrew, Disney, Richard, Carruth, Alan
This paper examines the impact of housing equity and occupational pension scheme membership on job tenure. Using job duration data from the 1985 General Household Survey, appropriate hazard functions...
Use of credit and arrears on debt among low-income families in the United Kingdom
Household accumulation of debt and arrears on debt, especially among low-income families, is an extremely topical issue in the UK media and in policy circles. This paper utilises data from the UK's...
The issue of ageing and saving has two distinct facets. On the one hand, there is the individual issue. Each of us is getting older and wants to make sure that our savings plans are appropriate. I...
Personal pensions and the review of the contracting-out terms
Richard Disney, Edward Whitehouse
From April 1988, individuals were offered a new pensions option by the Government: the possibility of 'contracting out' of the State Earnings-Related Pension Scheme (SERPS) into an Approved Personal...
How should pensions in the UK be indexed?
Richard Disney, Edward Whitehouse
At first sight, the technicalities of social securtiy benefit indexation are a somewhat abstruse topic, suitable only for the journals and handbooks of tax and finance practitioners. Yet the nature...
What can we learn about pension reform from Generational Accounts for the UK?
James Banks, Richard Disney, Zoë Oldfield
This paper considers the relevance of a set of generational accounts in informing policy debate in the UK. With regard to transparency, Generational Accounts can, under sensible assumptions, provide...
The Impact of Tax and Welfare Policies on Employment and Unemployment in OECD Countries
Tax policy , OECD , Employment , Unemployment ,
Do Real Wages Matter in an Open Economy? The Case of Singapore: 1966-1987.
Disney, Richard, Ho, Soo Kiang
Singapore is generally regarded as a small open economy which has pursued a successful export-oriented strategy. Government policy towards the labour market has been of crucial importance. This paper...
Macroeconomic Performance and the Design of Public Pension Programmes
I examine the impact of the design of the Irish public pension programme on two dimensions of Ireland’s macroeconomic performance - employment and the average saving rate. Two facets of the...
The personal pensions stampede
Disney, Richard, Whitehouse, Edward
While personal-pension mis-selling dominated the headlines, just as costly was the over-compensation offered to younger workers to contract out of the state scheme into personal pensions. The...
Pensions policy in the UK: An economic analysis
Dilnot, Andrew, Disney, Richard, Johnson, Paul, Whitehouse, Edward
An attempt to unravel the complexities of pension policy in the UK, including financial, fiscal, labour-market and income-distribution analyses of the retirement-income system. This book, drawing on...
Pension Schemes and Incentives: Case Studies from Australia and the United Kingdom
The use of selective benefits, directed to those considered most in need, has a high 'poverty reduction efficiency'. But selectivity inevitably produces non-linearities in the budget constraints...
The economic well-being of older people in international perspective: a critical review
Disney, Richard, Whitehouse, Edward
This paper surveys a dozen international comparative studies of poverty, income distribution and older people in industrialized countries using data up to the mid-1990s. It addresses a series of...
The economic well-being of older people in international perspective: a critical review
Disney, Richard, Whitehouse, Edward
This paper surveys a dozen international comparative studies of poverty, income distribution and older people in industrialized countries using data up to the mid-1990s. It addresses a series of...
British Unions in Decline: An Examination of the 1980s Fall in Trade Union Recognition
Richard Disney, Amanda Gosling, Stephen Machin
The authors analyze establishment-level data from the three Workplace Industrial Relations Surveys of 1980, 1984 and 1990 to document and explain the sharp decline in unionization that occurred in...
Pension Reform and Economic Performance in Britain in the 1980s and 1990s
Richard Disney, Carl Emmerson, Sarah Smith
The late 1980s saw a major shift in pension provision in the United Kingdom, when for the first time individuals were permitted to opt out of part of the social security program into individual...
Pension Provision and Retirement Saving: Lessons from the United Kingdom
Richard Disney, Carl Emmerson, Matthew Wakefield
We describe the trajectory of pension reform in the United Kingdom, which focuses on restraining the cost of the public program as the population ages while maintaining adequate income security for...
Housing wealth, liquidity constraints and self-employment
Disney, Richard, Gathergood, John
This paper investigates the existence of liquidity constraints facing entrepreneurs in the United Kingdom. Using a household-level panel data set, entry to self-employment is shown to be a function...
The Economics of Consumer Credit
Giuseppe Bertola, Richard Disney, Charles Grant
Academic research and policy discussions of credit markets usually focus on borrowing by firms and producers rather than by households, which are typically analyzed in terms of their savings and...
The United States Social Security fund is huge and in trouble. The United Kingdom has experimented with the voluntary contracting out of pensions to the private sector. Chile has privatized its...
The Economics of Consumer Credit
Giuseppe Bertola, Richard Disney, Charles Grant
Academic research and policy discussions of credit markets usually focus on borrowing by firms and producers rather than by households, which are typically analyzed in terms of their savings and...
Pension plans and retirement incentives
Disney, Richard, Whitehouse, Edward
The object of this paper is to examine the impact of type of pension scheme on retirement behaviour. The well-documented decline in the labour-force participation of older women and older men (in...
Cross-country comparisons of pensioners’ incomes
Disney, Richard, Whitehouse, Edward
This report surveys a dozen international comparative studies of poverty, income distribution and the elderly in OECD countries. It updates a previous Department of Social Security report —...
Europe: Is There an Aging Crisis or is it a Public Pension Problem?
Rentenfinanzierung, Gesetzliche Rentenversicherung, Rentenreform, EU-Staaten, Pension finance, Public pension system, Pension reform, EU countries
Europe: Is There an Aging Crisis or is it a Public Pension Problem?
Rentenfinanzierung, Gesetzliche Rentenversicherung, Rentenreform, EU-Staaten, Pension finance, Public pension system, Pension reform, EU countries
Disability, capacity for work and the business cycle: An international perspective
Hugo Benítez Silva, Richard Disney, Sergi Jiménez-Martín
An important policy issue in recent years concerns the number of people claiming disability benefits for reasons of incapacity for work. We distinguish between ‘work disability’, which may have...
Disability, Capacity for Work and the Business Cycle: An International Perspective
Hugo Benítez-Silva, Richard Disney, Sergi Jiménez Martín
An important policy issue in recent years concerns the number of people claiming disability benefits for reasons of incapacity for work. We distinguish between ‘work disability’, which may have...
What is a Public Sector Pension Worth?
Richard Disney, Carl Emmerson, Gemma Tetlow
We measure accruals in defined benefit (DB) pension plans for public and private sector workers in Britain, using typical differences in scheme rules and sector-specific lifetime age-wage profiles by...