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Informationen zum Autor Tito Boeri was Senior Economist at the OECD between 1987 and 1996, and from 1990 coordinated their work on human resource policies in the transition economies. He is currently Professor of Economics at Bocconi University, Milan, where he teaches a course on the economics of transition. Lans Bovenberg is winner of the Spinoza Prize and founder and scientific director of Netspar. Benoit Coeure is a French economist who was appointed to the Executive Board of the European Central Bank. Andrew Roberts is an assistant professor of political science and Faculty Fellow for the Institute for Policy Research at Northwestern University. Klappentext The Geneva Reports on the World Economy series was launched by the International Center for Monetary and Banking Studies (ICMB) and CEPR in 1999. Each title focuses on an aspect of the reform of the international financial and economic systems and is written by a team of internationally know macroeconomists. The eighth report in the series looks at pension funds. Contributors include Tito Boeri (Bocconi University and Fondazione Rodolfo Debenedetti), Lans Bovenberg (Tilburg University and Netspar), Benoît Coeuré (Agence France Trésor, and Ecole Polytechnique, Paris), and Andrew Roberts (Merrill Lynch). Zusammenfassung Pension funds operate in an environment characterised by a number of serious market imperfections (poor financial education of investors and managers! imperfect labour markets! and potential supply versus demand imbalances in financial markets). This report takes a stance on a number of controversial issues concerning the future of pension funds.