Essays On The Economic Effects Of Pension Related Policies

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Essays On The Economic Effects Of Pension Related Policies

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Author : Susana Parraga Rodriguez
language : en
Publisher:
Release Date : 2018

Essays On The Economic Effects Of Pension Related Policies written by Susana Parraga Rodriguez and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.

Essays In The Economics Of Aging

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Author : Jia-Zhueng Fan
language : en
Publisher:
Release Date : 2006

Essays In The Economics Of Aging written by Jia-Zhueng Fan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.

Aging populations place significant pressure on policy makers in rich and poor countries alike, especially as they contemplate publicly funded old-age support programs. My dissertation explores the economic behaviour of the elderly in three different countries, under three quite different institutional settings for the support of the elderly. The core chapters focus on the experience of the elderly in Taiwan, a middle-income country that recently adopted a modern public pension system. I also examine retirement behaviour in rural China, where there is no public pension scheme, and the economic outcomes of elderly immigrants to Canada---a country at the other end of income spectrum. In the last chapter, Michael Baker, Dwayne Benjamin, and I investigate the efficacy of the combination of Canadian public policies aimed at minimizing the extent to which elderly immigrants collect age-related public transfers. In our empirical analysis we compare immigrants' and natives' income sources, highlighting trends in public transfers received by the elderly from 1981 to 1997. We find that elderly immigrants are relatively dependent on provincially funded social assistance over their first ten years upon arrival, and thereafter they substitute towards OAS/GIS benefits. Also exploiting the FPP in Taiwan, chapter 3 explores additional welfare implications of publicly funded pensions, focusing on the "income effect" associated with the additional pension income, and interpreted in the light of differential responsiveness of consumption to income sources that vary by stability. Using private income as the baseline, the estimated "marginal propensity to consume" out of pension income is around 0.85, significantly higher than the counterpart estimate for private income---around 0.33. A further examination suggests that more risk-averse households appear to make less consumption out of private income---a result that highlights the role of income uncertainty in household consumption. In Chapter 4, joint work with Dwayne Benjamin and Loren Brandt, we evaluate the modern empirical content of the metaphor---"ceaseless toil"--Used by Davis-Friedmann (1991) to describe the retirement pattern in rural China before early 1980s: lacking sufficient means of support, the elderly had to work their entire lives. Our analysis centres around the role of age and deteriorating health in retirement decisions. The empirical results suggest that "ceaseless toil" is a reasonable depiction of elderly Chinese work patterns since economic reform, but failing health only plays a small observable role in predicting declining labour supply over the life-cycle. In Chapter 2 I address a key question regarding the major welfare connotation of publicly financed pensions: when a pensioner receives a dollar of benefit, does his/her income go up by the full amount? To answer this question, I examine private responses to public pensions, focusing on the displacement of private inter-household transfers---a traditional channel for adult children to support elderly parents---by pension income. Using the introduction of the Taiwan Farmers' Pension Program (FPP) as a "quasi-experiment," the empirical results from multiple identification strategies consistently imply that one dollar of pension income "crowds out" around 25 cents of private transfers received by the elderly. The partial (less than dollar-for-dollar) replacement rate implies that the pension benefits are shared by the recipients and their adult children, who would otherwise make more transfers to their elderly parents.

Essays In Economics Of The Family Social Interactions And Retirement Planning

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Author : Finagnon Antoine Dedewanou
language : en
Publisher:
Release Date : 2020

Essays In Economics Of The Family Social Interactions And Retirement Planning written by Finagnon Antoine Dedewanou and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.

Résumé en anglais

How The Financial Crisis Affects Pensions And Insurance And Why The Impacts Matter

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Author : Gregorio Impavido
language : en
Publisher: International Monetary Fund
Release Date : 2009-07

How The Financial Crisis Affects Pensions And Insurance And Why The Impacts Matter written by Gregorio Impavido and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-07 with Business & Economics categories.

We use a calibrated multi-sector DSGE model to analyze the likely impact of oil windfalls on the Ghanaian economy, under alternative fiscal and monetary policy responses. We distinguish between the short-run impact, associated with demand-related pressures, and the medium run impact on competitiveness and growth. The impact on inflation and the real exchange rate could be moderate, especially if the fiscal authorities smooth oil-related spending or increase public spending's import content. However, a policy mix that results in both a fiscal expansion and the simultaneous accumulation of the foreign currency proceeds from oil as international reserves to offset the real appreciation would raise demand pressures and crowd-out the private sector. In the medium term, the negative impact on competitiveness resulting from "Dutch Disease" effects could be small, provided public spending increases the stock of productive public capital. These findings highlight the role of different policy responses, and their interaction, for the macroeconomic impact of oil proceeds.

The Future Of Pension Plans In The Eu Internal Market

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Author : Nazaré da Costa Cabral
language : en
Publisher: Springer Nature
Release Date : 2019-11-26

The Future Of Pension Plans In The Eu Internal Market written by Nazaré da Costa Cabral and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-11-26 with Business & Economics categories.

This edited volume takes a closer look at various European pension-plan models and the recent challenges, trends and predictions related to the design of such schemes. The contributors analyse new ideas, both from national governments and European institutions, and consider current debates on topics such as the Capital Markets Union (CMU) and the so-called ‘European Pillar of Social Rights’ – calling for a new approach to social policy at the European level in response to common challenges, such as ageing and the digital revolution.This interdisciplinary work embraces economic, financial and legal perspectives, while focusing on previously selected coherence aspects in order to ensure that the analyses are comprehensive and globally consistent.

The Challenge Of Public Pension Reform In Advanced And Emerging Economies

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Author : Mr.Benedict J. Clements
language : en
Publisher: International Monetary Fund
Release Date : 2013-01-25

The Challenge Of Public Pension Reform In Advanced And Emerging Economies written by Mr.Benedict J. Clements and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-25 with Business & Economics categories.

Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.

Assessing Chile S Pension System Challenges And Reform Options

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Author : Samuel Pienknagura
language : en
Publisher: International Monetary Fund
Release Date : 2021-09-10

Assessing Chile S Pension System Challenges And Reform Options written by Samuel Pienknagura and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-10 with Business & Economics categories.

Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.

Oecd Pensions Outlook 2020

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Author : Oecd
language : en
Publisher:
Release Date : 2020-12-07

Oecd Pensions Outlook 2020 written by Oecd and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-12-07 with categories.

The 2020 edition of the OECD Pensions Outlook examines a series of policy options to help governments improve the sustainability and resilience of pension systems. It considers how to ensure that policy makers balance the trade-off between the short-term and long-term consequences of policy responses to COVID-19; how to determine and assess the adequacy of retirement income; how funded pension arrangements can support individuals in non-standard forms of work to save for retirement; how to select default investment strategies; how to address the potential negative consequences from frequent switching of investment strategies; and, how retirement income arrangements can share both the investment and longevity risks among different stakeholders in a sustainable manner. This edition also discusses how governments can communicate in a way that helps people choose their optimal investment strategies.

Pension Systems And Old Age Income Support In East And Southeast Asia

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Author : Donghyun Park
language : en
Publisher: Routledge
Release Date : 2012-03-15

Pension Systems And Old Age Income Support In East And Southeast Asia written by Donghyun Park and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03-15 with Business & Economics categories.

Old age income support will be one of the biggest social and economic challenges facing Asia in the twenty-first century. The growing spotlight on old age income support is largely due to exceptionally rapid population aging which is fundamentally reshaping Asia’s demographic profile. A young continent reaping the demographic dividend of a large youthful workforce is giving way to a greying continent where the ratio of retirees to workers is on the rise. In contrast to industrialized countries, most Asian countries do not yet have mature, well-functioning pension systems. As a result, they are ill prepared to provide economic security for the large number of retirees who loom on the region’s horizon. This book takes a close look at the pension systems of eight countries in East and Southeast Asia – namely, China, Indonesia, Korea, Malaysia, Philippines, Singapore, Thailand and Vietnam – which encompass a wide range of income and development levels. The book provides a comprehensive overview of pension systems in the eight countries, including an in-depth diagnosis to identify their major weaknesses and shortcomings. On the basis of the diagnosis, the book sets forth concrete and specific policy options for reforming Asia’s pension systems. Many policy options for reform are country-specific. For example, a top priority in China is to extend the pension system to rural areas. At the same time, a number of reforms – such as the need to extend coverage – resonate across the entire region. Appropriate reform will enable the region’s pension systems to deliver affordable, adequate and sustainable old-age economic security.

New Ideas About Old Age Security

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Author : Robert Holzmann
language : en
Publisher: World Bank Publications
Release Date : 2001

New Ideas About Old Age Security written by Robert Holzmann and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Business & Economics categories.

Printed on Demand. Limited stock is held for this title. If you would like to order 30 copies or more please contact [email protected] Contact [email protected], if currently unavailable. Policymakers worldwide are struggling to adapt their pension systems to the reality of aging populations, globalization, and tightening budgets. The World Bank actively supports these policymakers by helping them to identify the economic and demographic challenges facing them to highlighting potential policy responses and providing implementation support. New Ideas about Old Age Security is a selection of papers presented at a conference in September 1999 convened by the World Bank and attended by leading academics and policymakers from around the world. These papers, which have subsequently been revised, contain a sample of the most recent thinking in the global debate over pension reform. The papers in this volume explore a wide variety of pension reform issues. Some of the topics covered in this book include new approaches to multi-pillar pension reform, the relevance of index funds for pension investment in equities, and managing public pension reserves.