May 2020
08May

J.P. COVID impact on markets: research update

By Michael Cembales The first table itemizes monetary and fiscal stimulus unleashed by the Federal Reserve and other Central Banks in recent weeks, measured as Central Bank liquidity provisions, new fiscal stimulus programs and rate cuts. For context, new fiscal stimulus and total fiscal deficits in the US are roughly double the levels seen in 2008-2009, and the US fiscal deficit we project for 2020 of 15%-18% is only matched by deficits seen at the height of WWII in 1942-1943. ...

May 8, 2020
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04May

Before And After: FinTech vs. Healthcare Covid-19 Crisis Series

By Stephanie MacConnell for Forbes This is the first in a series of articles comparing the Covid-19 crisis in Healthcare to the financial crisis in 2008 that led to an industry-shaping boom in FinTech. The world before the 2008 financial crisis looked different. Most interaction with a person’s financial institution happened inside of a physical branch and most services for an individual were provided by one bank and perhaps one wealth manager. When banks crumbled and the 401ks of average Americans...

May 4, 2020
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04May

Before And After: FinTech vs. Healthcare Covid-19 Crisis Series

By Stephanie MacConnell for Forbes This is the first in a series of articles comparing the Covid-19 crisis in Healthcare to the financial crisis in 2008 that led to an industry-shaping boom in FinTech. The world before the 2008 financial crisis looked different. Most interaction with a person’s financial institution happened inside of a physical branch and most services for an individual were provided by one bank and perhaps one wealth manager. When banks crumbled and the 401ks of average Americans...

May 4, 2020
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01May

Clearing the Bench: Using Mandatory Retirement to Promote Gender Parity in the U.S. and the EU Judiciaries

By Christine Chambers Goodman Many European Union (“EU”) countries have been particularly adept at implementing antidiscrimination laws that go beyond merely promoting gender diversity, but also toward obtaining gender parity in some areas. These laws, directives, and policies, along with other factors, have expanded the representation of women in the legal profession generally and specifically in the ranks of professional judge positions, such that women constitute a majority, however slight, of judges throughout the EU. On a parallel track,...

May 1, 2020
Articles, Labor Market, Pension design,
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01May

Costs and Potential Funding of Expanded Public Pension Coverage in Asia

By Peter Morgan, Long Q. Trinh Public pension burdens in most emerging Asian economies are still relatively small. However, there are a number of reasons to believe that they will increase markedly in the coming years. First, many Asian economies will face rapidly ageing populations, which will raise pension and other old‐age‐related spending dramatically. Second, as economies develop, political pressures to expand the coverage of public pensions and raise pension benefits will likely increase. The first objective of this...

May 1, 2020
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01May

An Equilibrium Theory of Retirement Plan Design

By Ryan Bubb and Patrick L. Warren We develop an equilibrium theory of employer-sponsored retirement plan design using a behavioral contract theory approach. The operation of the labor market results in retirement plans that generally cater to, rather than correct, workers' mistakes. Our theory provides new explanations for a range of facts about retirement plan design, including the use of employer matching contributions and the use of default contribution rates in automatic enrollment plans that lower many workers' savings....

May 1, 2020
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April 2020
30Apr

Pension Fund Industry in Mexico: Analyzing the S&P/BMV Mexico Target Risk Index Series across Different Economic Crises

By Jaime Merino This article is reprinted from the Indexology blog of S&P Dow Jones Indices. It is unnecessary to give an update on today’s economic situation since most already have a wealth of information over the repercussions of the COVID-19 pandemic. I will instead focus on another major concern: how have pension funds performed, and furthermore, are there similarities in how they have performed during other crises? After the S&P/BMV IPC dropped 16.38% from its highest monthly return posted...

April 30, 2020
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24Apr

Dimensions of Human Resource Management Evolved with the Outbreak of COVID-19

By Jyoti Koirala, Suman Acharya The COVID-19 can be blamed for the greatest workplace transformations after 2020. This outbreak in this 21st century will break the existing system i.e. working, exercising, shopping, communicating, educating, and learning. This change will slowly force the organization to make modification to our human resource policies and strategy. The point need to be noted that this “social distance” is the change factor that created in the history for transformation. The work from home is...

April 24, 2020
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24Apr

Does Retirement Affect Voluntary Work Provision? Evidence from England, Ireland and the U.S

By Peter Eibich, Angelo Lorenti, Irene Mosca Voluntary work is an important contribution for many non-profit organizations, such as charities, political and religious organizations. Older individuals make up a sizable share of the volunteer workforce, and volunteering is often regarded as an example of "active ageing". In this study, we examine whether retirement has a causal effect on the frequency of voluntary work provision in three English-speaking countries - England, Ireland and the U.S. We draw on data from...

April 24, 2020
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24Apr

Labor Markets During the Covid-19 Crisis: A Preliminary View

By Olivier Coibion, Yuriy Gorodnichenko, Michael Weber We use a repeated large-scale survey of households in the Nielsen Homescan panel to characterize how labor markets are being affected by the covid-19 pandemic. We document several facts. First, job loss has been significantly larger than implied by new unemployment claims: we estimate 20 million lost jobs by April 8th, far more than jobs lost over the entire Great Recession. Second, many of those losing jobs are not actively looking to...

April 24, 2020
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