May 2021
28May

Trends in Labor Supply of Older Men and the Role of Social Security

By Zhixiu Yu The labor supply of older men increased from the 1930s to the 1950s cohort. I estimate a structural model that fits the participation and hours worked by the 1930s cohort well. The observed policy changes in normal retirement age, the earnings test, and delayed retirement credits explain 73.4% and 88.7% of the observed rises in labor force participation and hours worked by the 1950s cohort. Additional policy experiments suggest that postponing retirement age have little effect on...

May 28, 2021
Aging, Articles, Labor Market, ,
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28May

Population and Labor Dynamics in Large Informal Markets: Implications for Pension Systems with Evidence from Ecuador

By Margarita Velín-Fárez This paper reviews Ecuador’s population structure and labor market dynamics with a focus on the causes of inequality, particularly among older adults receiving contributory pensions. This serves as a basis for characterizing the main restrictions that the Ecuadorian pension system must address. This analysis is valuable for three key reasons. First, the population structure of many less developed countries is converging toward that of developed countries, with older age groups increasing in proportion. Second, Ecuador is among...

May 28, 2021
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13May

China Population and Development Studies

By CPDRC, CPA This journal provides an international platform for discussions on topics related to various population phenomena and development issues, complemented by a strong representation of the research trend and achievement in China and other Asian countries. The journal, hosted by China Population and Development Research Center, draws on the energetic and resourceful Chinese research community as well as in close contact with the Asian research community in the area, features the Asian perspective on the field of population...

May 13, 2021
Aging, Books, Labor Market, ,
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13May

Aging and Wages of Older Workers in Japan

By Quoc Hung Nguyen We first theoretically argue that labor force aging leads to a fall in the relative wage of older workers based on the Tinbergen's labor supply-demand framework. Using data from Japan's Basic Survey on Wage Structure and Population Census across 47 prefectures, we then estimate that a 10% increase in the relative number of workers aged 55 and older leads to a fall in their corresponding relative wage in a range of 3.5% to 4.3%. This equivalently...

May 13, 2021
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13May

Integrating Social Insurance and Social Assistance Programs for the Future World of Labor

By Robert J. Palacios, David A. Robalino Given the prevalence of informal labor, most countries have combined contributory social insurance programs (pensions, unemployment benefits, and health insurance), with non-contributory insurance programs and several types of "safety nets." All of these programs involve different types of subsidies and taxes, sometimes implicit. Because of design problems and the lack of coordination/integration between programs, these subsidies/taxes tend to cause four problems: 1) they can reduce incentives to contribute to mandatory insurance programs and...

May 13, 2021
Articles, Labor Market, Pension design, ,
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06May

Labour Force Survey in the EU, EFTA, United Kingdom and candidate countries

By Eurostat This report describes the main characteristics of the European Union Labour Force Survey (EU-LFS) conducted in 2019 in the Member States of the European Union (EU), three EFTA countries (Iceland, Norway and Switzerland), the United Kingdom and four candidate countries (Montenegro, North Macedonia, Serbia and Turkey). All of these countries provide Eurostat with EU-LFS microdata. The purpose of this report is to inform about the technical features of the surveys carried out in these countries, in order to...

May 6, 2021
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06May

Does it Matter to be Informal? Type of employment and political opinions in the MENA region

By Anil Duman Informal activities are highly persistent in developing countries, and their economic effects are widely studied in the literature. Yet, political consequences of informality are relatively an understudied topic and big chunk of the existing work does not offer systematic examination of how informal sector participation shape preferences and attitudes. Our paper contributes to the literature by focusing on Arab countries that have very stable and large size of informal sectors in the world. Additionally, we take into...

May 6, 2021
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April 2021
15Apr

Financial Inclusion in Malaysia Distilling Lessons for Other Countries

By World Bank Group The World Bank Group’s current partnership with Malaysia is focused on knowledge-sharing. It is centered on support for Malaysia’s vision to join the ranks of high-income economies by 2020 through inclusive and sustainable growth, and to share its lessons with developing countries. In March 2016, the World Bank Group officially launched its Global Knowledge and Research Hub in Malaysia. The new Hub is the first of its kind, serving both as a field presence in Malaysia and...

April 15, 2021
Books, Labor Market, System Sustainability, , ,
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15Apr

Financial Inclusion Through Fintech in the Digital Economy

By Eunsook Seo, Kyeong-Won Yoo Since the 2008 global financial crisis, including the recent COVID 19 pandemic, low interest rates and low economic growth have continued around the world. In spite of this low interest rate trend, as the economic downturn prolongs, there is a situation of concern called the “new normal” of low interest rates and low economic growth, and low prices. In this new normal economic structure, the rapid progress of aging is increasing the necessity and desire...

April 15, 2021
Articles, Innovation, Labor Market, System Sustainability, , ,
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15Apr

Involuntary unemployment in overlapping generations model due to instability of the economy and fiscal policy

By Yasuhito Tanaka The existence of involuntary unemployment advocated by J. M. Keynes is a very important problem of the modern economic theory. Using a three-generations overlapping generations model, we show that the existence of involuntary unemployment is due to the instability of the economy. Instability of the economy is the instability of the difference equation about the equilibrium price around the full-employment equilibrium, which means that a fall in the nominal wage rate caused by the presence of involuntary...

April 15, 2021
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