This book focuses on the public pension reform in China from both institutional and empirical studies perspectives. It introduces the process of the public pension reform in China and investigates its effects on households and firms¿ behaviors and individuals¿ well-being. It provides the reader with rich academic evidence for understanding the transformation of public pension and its effect on the household consumption, participating in risky financial market, and firms¿ decision making on wage and employment, as well as individuals¿ well-being. The main content of this book comprises three parts: (i) institutional transitions and issues on public pensions in China; (ii) the impact of public pensions on households or firms¿ behaviors in China; and (iii) the impact of public pensions on well-being in China. This book provides rich academic evidence about these issues based on economic theories and econometric methods using many kinds of Chinesenationwide representative survey data. This book is highly recommended to readers who are interested in up-to-date and in-depth empirical studies on the issues of public pension reform, and its impact on individuals, households, and firms¿ behaviors as well as well-being in China. This book is of interest to those who are interested in the Chinese economy, social security policymakers, and scholars with an econometric analysis background.

Introduces the institutional transformation process and issues of public pension reforms in China

Introduction.- Institutional Transitions and Issues on Public Pensions in China.- Public Pension Reforms in China: Process and Institutional Contents.- Towards a Universal Chinese Future Public Pension Structure.- Interest Rate Difference Loss of the Individual Account in Employees' Basic Pension Insurance.- Issues on Increasing the Contribution Rate of the Funded Defined Contribution.- Financial Sustainability and Adequacy Issues on Social Security Pensions.- Impacts of Public Pensions on Households or Firms' Behaviours in China.- Public Pension and Regional Disparity in Household Consumption.- New Rural Social Pension Insurance Scheme and No-Agricultural Employment of Rural Older Adults.- Public Pension and Household Financial Asset Allocation.- Public Pension and Income Transfer between the Elderly and Their Children.- Seniority Wage, Mandatory Retirement and Employment of Older Workers.- Impacts of Public Pensions on Well-being in China.- Public Pension and Health among Rural Middle-aged and Older Adults.- Functioning and Well-being of Older Adults: A Capability Approach.- Public Pension and Subjective Well-being among Rural Middle-aged and Older Adults.