April 2018

15Apr

On Welfare Effects of Increasing Retirement Age

By Krzysztof Makarski (National Bank of Poland; Warsaw School of Economics (SGH)) & Joanna Tyrowicz (National Bank of Poland; University of Warsaw) We develop an OLG model with realistic assumptions about longevity to analyze the welfare effects of raising the retirement age. We look at a scenario where an economy has a pay-as-you-go defined benefit scheme and compare it to a scenario with defined contribution schemes (funded or notional). We show that, initially, in both types of pension system schemes...

April 15, 2018
Aging, Articles, Labor Market, , ,
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09Apr

Faulty Transmissions: Howe Demographics Affect Monetary Policy in Canada

By Steve Ambler (University of Quebec at Montreal (UQAM) - Centre de recherche sur l'emploi et les fluctuations économiques (CREFÉ)) & Jeremy Kronick (C.D. Howe Institute) Over the past decade, inflation in many countries has been tepid, despite rock-bottom interest rates and different forms of unconventional stimulative monetary policy, including quantitative easing. For its part, Canada has averaged 1.5 percent inflation over this period, below the 2 percent target. This Commentary asks what role demographics, in particular an aging population,...

April 9, 2018
Articles, Labor Market,
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09Apr

The Relation Between the Migration, Population Aging, Labor Force Productivity and Economic Growth: An Analysis for Bulgaria

By Hamit Can (Technical University of Sofia) & Venelin Terziev (Vasil Levski National Military University; University of Ruse) In this study, the relationship between population, elderly population and economic growth is analyzed theoretically, taking into account the demographic change of the Bulgarian population and the more aging phenomenon. Thus, the change in the age structure of the Bulgarian population was investigated and the factors affecting the growth of the relationship between economic growth were investigated. Developed countries are trying to...

April 9, 2018
Aging, Articles, Labor Market, System Sustainability, ,
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02Apr

The Return to Work and Women’s Employment Decisions

By Nicole Maestas (Harvard Medical School - Department of Health Care Policy) It is well documented that individuals in couples tend to retire around the same time. But because women tend to marry older men, this means many married women retire at younger ages than their husbands. This fact is somewhat at odds with lifecycle theory that suggests women might otherwise retire at later ages than men because they have longer life expectancies, and often have had shorter careers on...

April 2, 2018
Articles, Labor Market,
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March 2018

26Mar

When Mommies Become Nannies: The Effects of Parental Retirement Across Generations

By Yi Chen (Jinan University - Institute for Economic and Social Research) & Xiaoyun Zhang (University of New South Wales (UNSW) - ARC Centre of Excellence in Population Ageing Research (CEPAR)) This paper analyzes the effect of parental retirement on the next generation through intergenerational time transfer. We investigate a series of consequences, including women's time allocation, fertility decisions, labor force participation, and subjective well-being. The study uses data from the China Family Panel Studies (CFPS) and employs regression discontinuity...

March 26, 2018
Articles, Labor Market,
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26Mar

Public Sector e-Recruitment Practices in Greece: The Case of the Supreme Council for Civil Personnel Selection (Asep) Website.

By Dimitrios Vyzirgiannakis (University of Crete) Although it is generally accepted that technology itself has no inherent value, there is no doubt that it is the key enabler of e-Government services. In regards to personnel recruitment, technology has undoubtedly revolutionized traditional methods. E-recruitment, generally defined as the process of utilizing new Information and Communication Technologies for candidate attraction, selection and communication management, has been extensively used in the private sector over the last two decades. The success of e-recruiting, especially...

March 26, 2018
Articles, Labor Market,
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19Mar

Gender and Social Security Reform: What’s Fair for Women?

By Neil Gilbert Aging populations are creating tremendous pressures on social security systems throughout the world, lifting the need for reform to the top of policy agendas. Proposed reforms often have different implications for men and women. At the same time, traditional family and gender roles are changing with the decline in fertility rates and the rapid rise in women's participation in the paid labor force.While trying to adapt social security systems to the fiscal demands of aging societies, policymakers...

March 19, 2018
Books, Labor Market, Pension design, ,
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19Mar

Rescuing Retirement

By Teresa Ghilarducci,‎ Tony James,‎ Timothy Geithner Everyone deserves to be able to retire with dignity, but this core feature of the social contract is in jeopardy. Companies have swerved away from pensions, and most of the workforce has woefully inadequate retirement savings. If we don’t act to fix this broken system, rates of impoverishment for senior citizens threaten to skyrocket, and tens of millions of Americans reaching retirement age in the coming decades will be forced to delay retirement...

March 19, 2018
Books, Labor Market, Pension design,
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19Mar

Earnings Test, Non-actuarial Adjustments and Flexible Retirement

By Axel H. Börsch-Supan, Klaus Härtl, Duarte N. Leite In response to the challenges of increasing longevity, an obvious policy response is to gradually increase the statutory eligibility age for public pension benefits and to shut down pathways to early retirement such as special rules for women. This is, however, very unpopular. As an alternative, many countries have introduced “flexibility reforms” which allow combining part-time work and partial retirement. A key measure of these reforms is the abolishment of earnings...

March 19, 2018
Articles, Labor Market, Pension design, System Sustainability,
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11Mar

Causes and Characteristics of Population Aging

By Kyounghoon Park (The Bank of Korea) Korea’s level of population aging remains lower than the OECD average. However, the pace of population aging in Korea is faster than that of many other member countries, as its total fertility rate is the lowest among OECD countries while its life expectancy exceeds the OECD average. Using panel data from OECD member countries, this paper divides the common causes of population aging in OECD countries into declining fertility rate and increasing life...

March 11, 2018
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