Pension systems and their meaning for welfare: a comparison of PAYG and FF pension systems
By Wencke Böhm Full Content: EconBiz
04Feb
February 2017
04Feb
Pension systems and financial constraints in a three-country OLG model of intra-EMU and global trade imbalances
By Karl Farmer & Bogdan Mihaiescu Full Content: EconBiz
04Feb
Reforming retirement age in DB and DC pension systems in an aging OLG economy with heterogenous agents
By Joanna Tyrowicz, Krzysztof Makarski and Marcin Bielecki We analyze the effects of increasing the retirement age in two economies with overlapping generations and within cohort ex ante heterogeneity. The first economy has a defined benefit system, and the second economy is in transition from a defined benefit to a defined contribution. We find that if increase in the retirement age is phased in a way that allows agents to adjust, welfare is not reduced and welfare effects have a...
04Feb
Redesigning pension systems: the institutional structure of pension systems should follow population developments
By Marek Gora For decades, pension systems were based on the rising revenue generated by an expanding population (demographic dividend). As changes in fertility and longevity created new population structures, however, the dividend disappeared, but pension systems failed to adapt. They are kept solvent by increasing redistributions from the shrinking working-age population to retirees. A simple and transparent structure and individualization of pension system participation are the key preconditions for an intergenerationally just old-age security system. Full Content: EconBiz
04Feb
Do Non-Monetary Prices Target the Poor? Evidence from a Field Experiment in India
By Bridget Hoffmann This paper uses willingness to pay (WTP) data from a field experiment in Hyderabad, India in 2013 to determine whether non-monetary prices better target health products to the poor than monetary prices. Monetary WTP is increasing in income and non-monetary WTP is weakly decreasing in income. Household fixed effects in a pooled sample of monetary WTP and non-monetary WTP are used to compare the correlation of income and WTP across price types. It is found that non-monetary...
04Feb
Balance Sheet Effects in Colombian Non-Financial Firms
By Sergio Restrepo, Adolfo Barajas, César Pabón & Roberto Steiner After building up foreign currency-denominated (FC) liabilities over several years, the balance sheets of Colombian firms might be particularly vulnerable to a shift in external conditions. This paper undertakes four exercises in order to get a better understanding of these vulnerabilities. First, probit/logit estimations are used to identify the firm-level and macroeconomic determinants of FC borrowing by non-financial corporations. Second, the implications of the balance sheet vulnerability for real activity...
04Feb
What Capabilities Do the New Innovation and Structural Change Policies in Uruguay Require?
By Carlos Bianchi, Guillermo Fuentes, Lucía Pittaluga This paper analyzes three organizations that implement productive development policies in Uruguay: (i) the Dirección Nacional de Recursos Naturales Renovables (National Directorate of Renewable Natural Resources); (ii) sectoral councils; and (iii) the Agencia Nacional de Investigación e Innovación (National Agency of Research and Innovation). Selected cases show that during the past decade, there was a major effort to boost productive development policies in Uruguay and build capabilities for that purpose. The paper also...
04Feb
The Political Economy of Pension Reform: Public Opinion in Latin America and the Caribbean
By Fabiana Machado Countries around the world are facing important challenges to the sustainability of their pension systems. Changing policies, especially those of large scope and financial magnitude, is a political challenge. It takes a combination of willingness, capacity and enough political support to change the status quo and avoid costly subsequent reversals. Taking advantage of several waves of public opinion data in Latin America and the Caribbean, this paper aims to identify and analyze individual-level factors that are relevant...
04Feb
The Chilean Pension System: A Renewed View
By Guillermo Larrain (more…)
04Feb
Promised and Affordable Replacement Rates in LAC Pension Systems in 2015 and 2100: Methodology and Determinants
By Solange Berstein, Mariano Bosch & María Oliveri This note, originally prepared as an appendix for the 2016 Development in the Americas Report, Saving for Development, surveys the methodology and assumptions used in the discussion of replacement rates for pension systems in Latin America and the Caribbean. (more…)