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Arun Muralidhar & Serge Allegrezza (eds.) Reforming European Pension Systems |
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When one thinks about the pioneers in the study and understanding of global savings, the first name that probably comes to mind is the late Professor Franco Modigliani. Institute Professor Emeritus at the Massachusetts Institute of Technology and Nobel Prize winner in Economics in 1985. His seminal paper on the Life Cycle Hypothesis provided one of the earliest academic insights into the need to save during a lifetime to ensure retirement security - or as we call it today, a funded pension system. At an age (his late 70s) when most others consider retirement, he threw himself fully into the fray and began to develop innovative solutions to the problem. Franco Modigliani always wished that a conference could be organized in Luxembourg to bring toghether the best and brightest in Europe to share ideas and derive optimal, permanent solutions to this global crisis. While he did not live to see this come to fruition, on the first anniversary of Professor Modigliani's passing, a conference was held at the Castle of Schengen by the Luxembourg Instiute for European and International Studies to serve both as a memorial for a great social scientist, and more importantly, to look forward in search for a solution to the social security crisis. This book summarizes the proceedings of the conference that explored many complex issues related to this topic, including case studies for Spain and Luxembourg using Modigliani's approach, and demonstrates the legacy of Franco Modigliani is alive and well. Bestel/Order |
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