WorldCat Identities

Diamond, Peter A.

Works: 275 works in 778 publications in 2 languages and 16,983 library holdings
Genres: Conference papers and proceedings 
Roles: Author, Editor, Other
Classifications: HD7125, 368.4300973
Publication Timeline
Most widely held works by Peter A Diamond
Saving Social security : a balanced approach by Peter A Diamond( )

31 editions published between 2003 and 2006 in English and held by 4,629 WorldCat member libraries worldwide

Issues in privatizing Social Security : report of an expert panel of the National Academy of Social Insurance by National Academy of Social Insurance (U.S.)( )

17 editions published between 1999 and 2003 in English and Undetermined and held by 2,290 WorldCat member libraries worldwide

"This study addresses many important aspects of these politically charged proposals. The questions discussed include: Should Social Security have more advance funding? Should Social Security funds be invested in the stock market? If investments are organized by the government, what independent institutions would shield portfolio decisions and corporate governance from political pressures? If investments are privately organized, what would be the regulatory structure? Finally should Social Security include individual defined-contribution accounts or stay with traditional defined benefits?"--Jacket
Taxation, incomplete markets, and social security : the 2000 Munich lectures by Peter A Diamond( )

26 editions published between 2002 and 2011 in English and Chinese and held by 1,818 WorldCat member libraries worldwide

The focus is on the degree of progressivity desirable in social security and the design of incentives to delay retirement beyond the earliest age of eligibility for benefits. Before analyzing these models, Diamond presents introduction to optimal income tax theory and the theory of incomplete markets
Social security : what role for the future? by Peter A Diamond( )

14 editions published in 1996 in English and held by 1,380 WorldCat member libraries worldwide

Looks at the questions essential to understanding the future of old-age protection under social security. Examines such front-burner issues as the effects that variables such as mortality, births, inflation, wage levels, and pension benefits will have on the income of future retireees
Behavioral economics and its applications by Yrjö Jahnssonin säätiö Staff( Book )

14 editions published between 2007 and 2012 in English and Undetermined and held by 945 WorldCat member libraries worldwide

In the last decade, behavioral economics, borrowing from psychology and sociology to explain decisions inconsistent with traditional economics, has revolutionized the way economists view the world. But despite this general success, behavioral thinking has fundamentally transformed only one field of applied economics-finance. Peter Diamond and Hannu Vartiainen's Behavioral Economics and Its Applications argues that behavioral economics can have a similar impact in other fields of economics. In this volume, some of the world's leading thinkers in behavioral economics and general economic theory make the case for a much greater use of behavioral ideas in six fields where these ideas have already proved useful but have not yet been fully incorporated--public economics, development, law and economics, health, wage determination, and organizational economics. The result is an attempt to set the agenda of an important development in economics--an agenda that will interest policymakers, sociologists, and psychologists as well as economists. Contributors include Ian Ayres, B. Douglas Bernheim, Truman F. Bewley, Colin F. Camerer, Anne Case, Michael D. Cohen, Peter Diamond, Christoph Engel, Richard G. Frank, Jacob Glazer, Seppo Honkapohja, Christine Jolls, Botond Koszegi, Ulrike Malmendier, Sendhil Mullainathan, Antonio Rangel, Emmanuel Saez, Eldar Shafir, Sir Nicholas Stern, Jean Tirole, Hannu Vartiainen, and Timothy D. Wilson
Uncertainty in economics : readings and exercises by Peter A Diamond( Book )

43 editions published between 1978 and 2014 in English and held by 908 WorldCat member libraries worldwide

Uncertainty in Economics 2/e brings together classical and modern thinking in the economics of uncertainty. This revised edition includes three new articles, added material on search theory, and updated references
Reforming pensions : principles and policy choices by N. A Barr( Book )

27 editions published between 2008 and 2009 in English and held by 535 WorldCat member libraries worldwide

"Mandatory pensions are a worldwide phenomenon. However, with fixed contribution rates, monthly benefits, and retirement ages, pension systems are not consistent with three long-term trends: declining mortality, declining fertility, and earlier retirement. Many systems need reform. This book gives an extensive nontechnical explanation of the economics of pension design." "Alongside the economic principles of good design, policy must also take account of a country's capacity to implement the system. Thus the theoretical analysis is complemented by discussion of implementation and of experiences, both good and bad, in many countries, with particular attention to Chile and China."--Jacket
On time : lectures on models of equilibrium by Peter A Diamond( Book )

24 editions published between 1994 and 2009 in English and held by 469 WorldCat member libraries worldwide

"In these two lectures Peter Diamond explores how time is modeled in theoretical analyses of individual industries and of an entire economy." "In the first lecture he considers equilibrium in a single market by examining the distinction between the short run and the long run in Marshallian analysis. He proposes an explicit modeling of time in place of Marshall's use of different atemporal models for different time frames. A model with different expansion paths for different firms and models of price competition with incomplete information are presented. Data on job creation and destruction and data on price changes are examined." "In the second lecture he turns to models of an entire economy, and begins by considering how and why models of an entire economy should differ from models of a single industry. Both cyclical and seasonal data on the behavior of macro-economics are examined. The Arrow-Debreu and Hicksian ISLM models are compared with explicit-time models of the command over purchasing power." "Professor Diamond ends by indicating a direction for future research that might yield a more integrated economics."--BOOK JACKET
Estimating the real rate of return on stocks over the long term by John Y Campbell( )

2 editions published in 2001 in English and held by 309 WorldCat member libraries worldwide

Pension reform : a short guide by N. A Barr( )

21 editions published between 2009 and 2010 in English and held by 287 WorldCat member libraries worldwide

This book is an abridgement of Barr and Diamond's Reforming Pensions: Principles and Policy Choices (OUP, 2008). It begins with the introduction to the earlier book, includes the concluding chapters to the sections on principles and on policy choices and the concluding policy chapter to the book. It summarizes the Chile and China chapters into a section of five pages. It presents material from some of the boxes of the longer book. While the longer book remains as a definitive and detailed analysis of pension reform, this new, shorter book conveys the message and conclusions to policy makers, journalists writing for the general public, and students being introduced to social security and other pension policy. The topic being condensed and summarized here is described at length in the earlier book. It stems from rapidly changing economic conditions and dramatic increases in life expectancy. Newspaper headlines across the globe anticipate again and again a massive rupture of social security and retirement systems. With public fears on the rise, officials in many countries under pressure to solve problems quickly are turning their backs on traditional pay-as-you-go systems in favor of privately financed retirement plans. Barr and Diamond demonstrate that in the age of globalization these problems are no longer simply domestic problems. Because trade borders are becoming increasingly open and digital transactions are hastily erasing national economic boundaries, countries are no longer able to act independently in setting pension policies. These problems are particularly exacerbated in China, a state where massive restructuring of state-owned enterprises and comparatively recent dynamic entry into global markets have already taxed a system whose enormous burden is to support the retirement of the world's largest national population. The authors address these issues comprehensively in a thorough survey of pension economic principles and application to China
Social security investment in equities I : linear case by Peter A Diamond( )

26 editions published between 1999 and 2004 in English and held by 141 WorldCat member libraries worldwide

Social Security trust fund portfolio diversification to include some equities reduces the equity premium by raising the safe real interest rate. This requires changes in taxes. Under the hypothesis of constant marginal returns to risky investments, trust fund diversification lowers the price of land, increases aggregate investment, and raises the sum of household utilities, suitably weighted. It makes workers who do not own equities on their own better off, though it may hurt some others since changed taxes and asset values redistribute wealth across contemporaneous households and across generations. In our companion paper we reconsider the effects of diversification when there are decreasing marginal returns to safe and risky investment. Our analysis uses a two-period overlapping generations general equilibrium model with two types of agents, savers and workers who do not save. The latter represent approximately half of all workers who hold no equities whatsoever
The economics of social security reform by Peter A Diamond( Book )

15 editions published in 1998 in English and held by 140 WorldCat member libraries worldwide

Economic analysis centers on three questions whether to have a mixed defined contribution (DC)/defined benefit (DB) plan and how to invest the funding. The paper compares a DB funded plan with a funded DC plan without any individual choice. The paper then considers individu choice about benefits, with particular attention to widows. Portfolio choice is considered for a central fund and in individual accounts, particularly the costs of implementation, as are the implications of greater funding. The implications for the labor market are examined. The major economic issues are not controversial. More funding involves higher taxes (or lower benefits) in the near-term in order to have lower taxes (or higher benefits) in the long run. More funding can reduce the frequency of needed adjustments to Social Security and can increase national savings. These economic effects are similar with or without individual accounts, although the politics will differ. The financial advantage of a diversified portfolio applies to a central fund, whether for a DC or a DB. Indeed, a DB that adjusts well handles risk better than a DC. Economically, the case for diversification is clear, but political questions arise about investing well and avoiding improper interference in corporate governance. Individual accounts respond to political concerns and allow diversity in individual portfolios but add to administrative costs and raise questions about the quality of individual investment decisions. They also raise the political question of maintaining redistribution. It is unclear whether individual accounts would make the labor market more or less efficient. My bottom line is that a well-run DB system is economically more efficient than a mixed DC/DB system. The real issue then becomes how well the US government could run either system
Administrative costs and equilibrium charges with individual accounts by Peter A Diamond( )

14 editions published in 1999 in English and held by 139 WorldCat member libraries worldwide

There are many individual account proposals. For government-organized accounts, the government arranges for both record-keeping and investment management. For privately-organized accounts, individuals directly select private firms to do these tasks. The government spreads the costs of government-organized accounts among accounts, outside sources of revenue, employers and workers. With privately-organized accounts, equilibrium prices reflect selling costs as well as administrative costs. Thus, government-organized accounts are organized on a group basis while privately-organized accounts are organized on an individual basis. In financial and insurance markets generally, the group and individual markets function very differently and yield different pricing structures. The paper describes a low cost/low services government-organized plan and estimates that it might cost $40-50 per worker per year. The nature of equilibrium with privately-organized accounts is discussed, with the conclusion that the costs would be very high compared to the cost of government organization
Annuities and individual welfare by Thomas Davidoff( )

18 editions published between 2003 and 2005 in English and held by 134 WorldCat member libraries worldwide

This paper advances the theory of annuity demand. First, we derive sufficient conditions under which complete annuitization is optimal, showing that this well-known result holds true in a more general setting than in Yaari (1965). Specifically, when markets are complete, sufficient conditions need not impose exponential discounting, intertemporal separability or the expected utility axioms; nor need annuities be actuarially fair, nor longevity risk be the only source of consumption uncertainty. All that is required is that consumers have no bequest motive and that annuities pay a rate of return for survivors greater than those of otherwise matching conventional assets, net of administrative costs. Second, we show that full annuitization may not be optimal when markets are incomplete. Some annuitization is optimal as long as conventional asset markets are complete. The incompleteness of markets can lead to zero annuitization but the conditions on both annuity and bond markets are stringent. Third, we extend the simulation literature that calculates the utility gains from annuitization by considering consumers whose utility depends both on present consumption and a which they have become accustomed. The value of annuitization hinges critically on the size of the initial standard-of-living relative to wealth
An assessment of the proposals of the President's Commission to Strengthen Social Security by Peter A Diamond( )

13 editions published in 2002 in English and held by 128 WorldCat member libraries worldwide

The President's Commission to Strengthen Social Security proposed three reform plans. Two, analyzed here, restore actuarial balance in the absence of individual accounts. One achieves this balance solely through benefit reductions. The other uses new dedicated revenue to cover one-third of the actuarial deficit, reducing benefits to close the rest. Both plans cut disability and young survivor benefits in step with retirement benefits, while bolstering benefits for long-career low earners and surviving spouses with low benefits. The plans both include voluntary individual accounts that replace part of the scaled-back Social Security system. Payroll taxes are diverted to the accounts and one of the plans also requires a (subsidized) add-on contribution for those choosing accounts. Under both models, any payroll tax deposited in an individual account is also recorded in a 'liability account' for the worker. The liability account tracks the diverted payroll revenue (with interest) and is paid off by reducing traditional benefits. The individual accounts are subsidized through a sub-market interest rate on the liability accounts. This subsidy worsens the financial position of the Trust Fund. The accounts also create a cash-flow problem. Consequently, by themselves, the individual accounts make Social Security's solvency problems worse both in the short run and over the long run. To offset the adverse impact of the accounts, the plans call for large transfers of general revenues (despite substantial projected budget deficits). If all (two-thirds of) eligible workers opted for the accounts, the new revenues required over the next 75 years would amount to between 1.2 and 1.5 (0.8 and 1.1) percent of payroll. Holding the disabled harmless from the benefit reductions would raise the required transfers to between 1.5 and 1.7 (1.1 and 1.3) percent of payroll (compared to a projected actuarial deficit of 1.9 percent of payroll under current law). Despite requiring this much general revenue relative to paying scheduled benefits, the plans would produce significant reductions in expected combined benefits. At the end of 75 years, however, assets in the accounts would amount to between 53 and 66 (35 and 44) percent of GDP, and the value to Social Security of the accumulated liabilities that reduce later benefits would amount to more than 20 (15) percent of GDP
Pensions for an aging population by Peter A Diamond( )

12 editions published in 2005 in English and held by 114 WorldCat member libraries worldwide

After presenting the Gruber-Wise analysis showing a strong effect on retirement of implicit taxes from pension rules, it is shown that there is no effect of these implicit taxes on unemployment. This supports the argument for avoiding high implicit taxes on continued work. Also discussed are methods for adjusting benefits and taxes for increases in life expectancy, with particular attention to increasing "the retirement age." Calculations are presented showing the decreases in benefits for an increase in the normal retirement age in the US and the years of service for a full benefit in France
Privatization of social security : lessons from Chile by Peter A Diamond( )

13 editions published in 1993 in English and held by 113 WorldCat member libraries worldwide

In Chile, all covered workers must place 10% of monthly earnings in a savings account with a highly regulated intermediary that manages a single fund and provides survivors and disability insurance. Workers pay a commission charge, in addition to the mandatory 10%, to finance this insurance and to cover the costs and profits of the intermediaries. On becoming eligible to receive benefits, a worker can choose between a sequence of phased withdrawals and a real annuity. In addition, there is a sizable guaranteed minimum pension. Unlike the purchased annuities, the minimum pension is not indexed, but adjusted by the government from time to time. The Chilean reform gets high marks for defending the system from political risk and for its effects on capital accumulation and on the functioning of the capital market. The Chilean reform gets low marks for the provision of insurance and for administrative cost. Perhaps the most surprising aspect of the Chilean reform is the high cost of running a privatized social security system, higher than the 'inefficient' system that it replaced. Valdes-Prieto has estimated that the average administrative charge per effective affiliate while active is U.S. $89.10 per year (for 1991) which is 2.94% of average taxable earnings. This is close to 30% of the 10% mandatory savings rate. The cost per person is not far from costs observed in other privately-managed pension systems, such as defined- benefit private pensions in the U.S. However, it compares unfavorably with administrative costs in well-run unified government managed systems. The issue here is the administrative efficiency of reliance
Capital income taxes with heterogeneous discount rates by Peter A Diamond( )

9 editions published in 2009 in English and held by 91 WorldCat member libraries worldwide

With heterogeneity in both skills and preferences for the future, the Atkinson-Stiglitz result that savings should not be taxed with optimal taxation of earnings does not hold. On average people with higher skills save at higher rates. Saez (2002) suggests that with such positive correlation taxing savings can increase welfare. This paper analyzes this issue in a model with less than perfect correlation between ability and preference for the future. To have multiple types at the same earnings level, the number of types of jobs in the economy is restricted. Key to the analysis is that types who value future consumption less are more tempted to switch to a lower earning job. We show that introducing both a small savings tax on the high earners and a small savings subsidy on the low earners increase welfare, regardless of the correlation between ability and preferences for the future. However, introducing a uniform savings tax, as in the Nordic dual income tax, increases welfare only if that correlation is sufficiently high. There are also some results on optimal linear taxes that parallel the results on introducing small taxes
Cyclical unemployment, structural unemployment by Peter A Diamond( )

13 editions published in 2013 in English and held by 90 WorldCat member libraries worldwide

Whenever unemployment stays high for an extended period, it is common to see analyses, statements, and rebuttals about the extent to which the high unemployment is structural, not cyclical. This essay views the Beveridge Curve pattern of unemployment and vacancy rates and the related matching function as proxies for the functioning of the labor market and explores issues in that proxy relationship that complicate such analyses. Also discussed is the concept of mismatch. Keywords: unemployment, vacancies, Beveridge Curve, matching function, stimulus policy. JEL Classification: E6, E24, E32, J23
Disaggregating the matching function by Peter A Diamond( )

6 editions published in 2016 in English and held by 60 WorldCat member libraries worldwide

The aggregate matching (hiring) function relates gross hires to labor market tightness. Decompositions of aggregate hires show how the hiring process differs across different groups of workers and of firms. Decompositions include employment status in the previous month, age, gender and education. Another separates hiring between part-time and full-time jobs, which show different patterns in the current recovery. Shift-share analyses are done based on industry, firm size and occupation to show what part of the residual of the aggregate hiring function can be explained by the composition of vacancies. The hiring process appears to shift as a recovery starts, coinciding with shifts in the Beveridge curve. The paper also discusses some issues in the modeling of the labor market
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Saving Social security : a balanced approach
Issues in privatizing Social Security : report of an expert panel of the National Academy of Social InsuranceTaxation, incomplete markets, and social security : the 2000 Munich lecturesBehavioral economics and its applicationsUncertainty in economics : readings and exercisesReforming pensions : principles and policy choicesOn time : lectures on models of equilibriumPension reform : a short guide
Alternative Names
Diamond, P.

Diamond, P. 1940-

Diamond, P. A. 1940-

Diamond, P. (Peter A.)

Diamond, P. (Peter A.), 1940-

Diamond Peter

Diamond, Peter 1940-

Diamond, Peter Arthur 1940-

Peter A. Daimond

Peter A. Diamond

Peter A. Diamond americký ekonom

Peter A. Diamond Amerikaans econoom

Peter A. Diamond amerikansk ekonom

Peter A. Diamond US-amerikanischer Wirtschaftswissenschaftler

Peter A. Diamond yhdysvaltalainen taloustieteilijä

Peter Arthur Diamond

Peter Diamond amerikansk økonom

Peter Diamond economista statunitense

Peter Diamond économiste américain

Peter Diamond Nobel prize in economics winner

Peter Diamond usona ekonomikisto

Petrus Diamond

Piter Daymond

Даймонд, Питер

Даймонд, Питер американский экономист, лауреат Нобелевской премии по экономике 2010 года

Питер Даймонд

Пітер Артур Даймонд

Пітэр Дайманд

Փիթեր Դայմոնդ

פיטר דיאמונד

بيتر دايموند

پیتر ای. دیاموند اقتصاددان آمریکایی

پیٹر ڈائمنڈ

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English (365)

Chinese (1)