May 2019

Will the Financial Fragility of Retirees Increase?

By Steven A. Sass Retirees have long been considered financially fragile. The notion that they are ill-equipped to absorb financial shocks is captured in the traditional trope that they live on fixed incomes. Going forward, retirees will get much less income from fixed Social Security and employer pensions, and much more from savings in 401(k) plans and individual retirement accounts (IRAs). These savings give retirees greater flexibility to respond to shocks. But tapping into their nest eggs comes at...

April 2019

Inclusive Growth: The Global Challenges of Social Inequality and Financial Inclusion

By Howard Thomas, Yuwa Hedrick-Wong Inclusive growth ensures the benefits of a growing economy extend to all segments of society. Unleashing people’s economic potential starts with connecting them to the vital networks that power the modern economy. Implementing inclusive growth is a means of democratizing productivity and it is essential to reduce the widening gap between the wealthy and the poor in both developed and developing economies.   This book arose out of a research partnership between the Mastercard Center for...

February 2019

On the Political Feasibility of Increasing the Legal Retirement Age

By Benjamin Bittschi (ZEW – Leibniz Centre for European Economic Research) & Berthold Ulrich Wigger Within a politico-economic model we first establish three hypotheses: (i) Retirees generally prefer a higher retirement age than workers, whereby just retired individuals prefer the highest retirement age, (ii) in equilibrium the level of the legal retirement age is increasing in longevity and (iii) decreasing in the public pension replacement rate. We then test these hypotheses empirically. Employing micro data for Germany we corroborate the...

The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty

By Clayton M. Christensen,‎ Efosa Ojomo,‎ Karen Dillon Clayton M. Christensen, the author of such business classics as The Innovator’s Dilemma and the New York Times bestseller How Will You Measure Your Life, and co-authors Efosa Ojomo and Karen Dillon reveal why so many investments in economic development fail to generate sustainable prosperity, and offers a groundbreaking solution for true and lasting change.Global poverty is one of the world’s most vexing problems. For decades, we’ve assumed smart, well-intentioned people will eventually be able to change the...

Globalisation,Human Security and Social Inclusion

By Olivia Joseph Aluko The groundwork for this volume was laid during a presentation I gave titled ‘Migration as a security threat’ at the 4th Diaspora International Conference organised by the World Association of Sustainable development (WASD) in the UK. Thus, this work is a contribution to a large body of literature on migration studies throughout the whole world. The process of writing this book has come at a time when a spotlight has been placed on immigration as a growing...

January 2019

Government Transfers, Work and Wellbeing: Evidence from the Russian Old-Age Pension

By Louise Grogan (University of Guelph - Department of Economics) & Fraser Summerfield (University of Aberdeen - Economics; CELMR; Rimini Center for Economic Analysis (RCEA)) This paper examines the impacts of a large and anticipated government transfer, the Russian old-age pension, on labor supply, home production and subjective wellbeing. The discontinuity in eligibility at pension age is exploited for inference. The 2006-2011 Russian Longitudinal Monitoring Survey is employed. Causal impacts differ across the sexes. Women reduce market work and appear...

The Populist Backlash Against Europe: Why Only Alternative Economic and Social Policies Can Stop the Rise of Populism in Europe

By Bojan Bugaric (University of Sheffield, Department of Law) The European Union is facing an unprecedented political crisis. This club of liberal and democratic countries has been confronted by a nationalist and populist backlash that threatens the core principles at the very heart of the EU. Capitalizing on the European sovereign debt crisis, the backlash against refugees streaming in from the Middle East, public angst over the growing terror threat, and Brexit, previously fringe populist political parties are growing with...

November 2018

Immigrants in a Changing Labor Market: Responding to Economic Needs

By Michael Fix,‎ Demetrios G Papademetriou,‎ Madeleine Sumption This volume, which brings together research by leading economists and labor market specialists, examines the role immigrants play in the U.S. workforce, how they fare in good and bad economic times, and the effects they have on native-born workers and the labor sectors in which they are engaged. The book traces the powerful economic forces at play in today's globalized world and includes policy prescriptions for making the American immigration system more...

October 2018

Population Aging: Impacts and Policy Imperatives

By The Bank of Korea The Republic of Korea is aging rapidly, as the average woman in her childbearing years gives birth to only 1.17 children ─ among the world’s lowest numbers as of 2016 ─ while people are also living longer. The country is projected to enter into the status of an aged society from 2018, with a share of the elderly in its population of 14.3%, and to become a super-aged society with a share of 20% in...

Social Protection in Developing Countries: Reforming Systems

By Katja Bender,‎ Markus Kaltenborn,‎ Christian Pfleiderer Providing universal access to social protection and health systems for all members of society, including the poor and vulnerable, is increasingly considered crucial to international development debates. This is the first book to explore from an interdisciplinary and global perspective the reforms of social protection systems introduced in recent years by many governments of low and middle-income countries. Although a growing body of literature has been concerned with the design and impact of social...