December 2019

06Dec

The Comprehensive Wealth of Older Immigrants and Natives

By David A. Love, Lucie Schmidt This article compares the retirement preparations of immigrant and native-born Americans aged 51 or older. The authors estimate the present value of future income streams in calculating measures of comprehensive wealth and an annualized equivalent. In addition to some significant differences in median annualized wealth between immigrants and natives, the authors find that the most recent waves of immigrants are more financially vulnerable in retirement than earlier immigration cohorts were at similar ages....

December 6, 2019
Aging, Articles, Labor Market,
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November 2019

29Nov

The Effect of Aging on the Age-wage Profile

By Toshikatsu Inoue Despite its importance, many macroeconomic models do not capture the changes in the age-wage profile over time. The flattening of the age-wage profile in Japan and the relative increase in the aging workforce suggests the existence of demand law in relative labor inputs and wages of each age, which is abstracted from the standard macroeconomic model. In this study, we build a model using the aggregate production function that creates a downward slope labor demand curve....

November 29, 2019
Aging, Articles, Labor Market, , ,
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28Nov

Pensions at a Glance 2019

By OECD The 2019 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the last two years. Moreover, two special chapters focus on non-standard work and pensions in OECD countries, take stock of different approaches to organising pensions for non-standard workers in the OECD, discuss why non-standard work raises pension issues and suggest how pension settings could be improved. This edition also updates information on the key features of pension provision in OECD countries and...

November 28, 2019
Aging, Articles, Books, Labor Market, Pension design, Reports, Slider-Left, Sustainability, ,
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22Nov

Essentials of Pension Economics

By Sergio Nisticò This Palgrave Pivot provides a concise overview of pension systems which, whether paid by governments or by private companies, are the sole source of income for millions of people around the world. By 2050, two billion elderly people will have to be ensured some form of income while, at the same time, the prospect facing younger generations is of a gloomy future. This book breaks down the jargon, investigates different designs and analyses these designs'...

November 22, 2019
Aging, Books, System Sustainability,
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22Nov

Calibrating Gompertz in Reverse: Mortality-adjusted (Biological) Ages around the World

By Moshe A. Milevsky This paper develops a statistical and methodological framework for inverting the Gompertz-Makeham (GM) law of mortality for heterogenous populations in a manner consistent with a compensation law of mortality (CLaM), to formally define a global mortality-adjusted (biological) age. It implements and calibrates this framework using rates from the Human Mortality Database (HMD) to illustrate its salience and applicability. Among other things, this paper demonstrates that when properly benchmarked, the global mortality-adjusted (biological) age of a...

November 22, 2019
Aging, Articles, ,
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08Nov

Longevity Risk and Retirement Income Planning

By Patrick J. Collins, Huy D. Lam, Josh Stampfli The past 50 years have seen an abundance of research on retirement planning and longevity risk. Reviewed here is the academic side of the research and its varied viewpoints and nuances. The evolution of retirement risk models, retirement portfolio problems and solutions, and annuities are some of the many topics covered. Get the book here

November 8, 2019
Aging, Books, Investing, Pension design, , ,
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October 2019

25Oct

Essentials of Pension Economics

By Sergio Nisticò This Palgrave Pivot provides a concise overview of pension systems which, whether paid by governments or by private companies, are the sole source of income for millions of people around the world. By 2050, two billion elderly people will have to be ensured some form of income while, at the same time, the prospect facing younger generations is of a gloomy future. This book breaks down the jargon, investigates different designs and analyses these designs'...

October 25, 2019
Aging, Books, Sustainability,
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September 2019
20Sep

Old-Age Poverty: The Household Perspective; A Microsimulation Approach of Pension Entitlements in Germany

By Sebastian Finkler Providing a decent living standard and preventing old-age poverty are the two major challenges of pension insurance schemes. Replacement rates below the poverty line despite many years of contribution represent a major challenge for public pension schemes with respect to the systems 'raison d’être'. The focus of the present paper turns away from individual perspective and considers household retirement incomes in the light of analysing old-age poverty and designing (minimum) pension policies. Using household survey and...

September 20, 2019
Adequacy, Aging, Articles, Pension design, , ,
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20Sep

The Development of Social Security in China

 By Gao Zexin, Mario Arturo Ruiz Estrada, Aslam Mohamed, Minsoo Lee Over the past 60 years, the social security system has continued to advance with the development of the economy. Especially since China’s Reform and Opening-up, the role and status of social security have become more and more prominent. With the evolution of value concepts and the transformation of the system interacted with each other, China's social security has embarked on a complicated track of establishing and reform. In...

September 20, 2019
Aging, Articles, Labor Market, System Sustainability, ,
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06Sep

Institutional Responses to Aging Populations and Economic Growth: A Panel Data Approach

By Patrick M. Emerson, Shawn D. Knabb, Anca-Ioana Sirbu Will an aging population lower economic growth? Economists are generally concerned that the increase in life expectancy could lower economic growth, however, theory does not make a prediction. As life expectancy increases, so should household savings, which results in more physical capital per worker. This will stimulate economic growth. However, as the retired population share increases, this may reduce spending on children as more resources are transferred to the elderly....

September 6, 2019
Aging, Articles, ,
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