Prof Peter A Diamond, a\nworld-renowned economist and a recipient of the Nobel Prize in Economic\nSciences 2010, visited the University of Macau (UM) and delivered a talk titled\n\u2018Good Pension Design\u2019. The event\nattracted a full-house audience, including UM faculty members,\nstudents, and guests.<\/p>
Prof Diamond discussed\nthe purpose of a pension system, its key elements, and the pros and cons of\nvarious pension systems around the world, including those in Macao and Hong\nKong. He said because of the significantly improved average life expectancy and\nan increasingly ageing population worldwide, it is very important for all\neconomies to establish a good and healthy pension system to ensure sustainable\ndevelopment. Prof Diamond also provided insightful suggestions about the\nexecution of the pension systems in Hong Kong and Macao. He pointed out that while\nMacao is a prosperous city, with the Non-Mandatory Central Provident Fund\nSystem becoming effective on 1 January this year, the government should make an\neffort to explain its characteristics and operation to Macao residents in order to\nincrease its transparency.<\/p>
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Prof Diamond taught at\nthe Massachusetts Institute of Technology (MIT) from 1966 to 2011 and is\ncurrently an honorary professor of MIT. He was the president of the American\nEconomic Association, the Econometric Society, and the National Academy of\nSocial Insurance. He jointly wrote Reforming\nPensions: Principles and Policy Choices<\/i> and Pension Reform: A Short Guide<\/i>, with Nicholas Barr. In 2010, he was\nawarded the Nobel Prize in Economic Sciences, along with Dale T Mortensen and\nChristopher A Pissarides.<\/p> For the full version, please refer to the Chinese version.<\/p> Source: Faculty of Business Administration <\/p> Media Contact Information:Communications Office, University of Macau<\/p> <\/p> Albee Lei Tel\uff1a(853) 88228004Kelvin U Tel\uff1a(853) 88224322Email\uff1aprs.media@um.edu.moUM Website\uff1awww.umac.mo<\/p> <\/p>\n \n ","protected":false},"excerpt":{"rendered":" Prof Peter A Diamond, a world-renowned economist and a recipient of the Nobel Prize in Economic Sciences 2010, visited the University of Macau (UM) and delivered a talk titled \u2018Good…<\/p>\n","protected":false},"author":1,"featured_media":41923,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[60],"tags":[],"class_list":["post-41922","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release"],"acf":[],"yoast_head":"\n