Articles Archives - Page 128 of 140 - Pension Policy International

04FebFebruary 4, 2017

Private pension funds in Poland

By Lech Keller-Krawczyk This article takes a highly critical look at the pension system in Poland, which had been reformed after 1989 on the basis of the World Bank's 'three pillars' model of a combined state and private, mandatory and voluntary pensions system, despite evidence that the model is flawed and unobjective, being hinged on the inducements of cheaper credits for those countries adopting it. The author relates both the old and new pension systems in Poland, and describes the...

February 4, 2017

Articles, Corporate Governance, Investing, Labor MarketFunding, Sustainability

04FebFebruary 4, 2017

Analysing the Performance of the Pension Fund Industry with a Stochastic Frontier Model: A Case Study for Portugal

The enhanced role of occupational and personal pension plans in providing retirement income raises issues concerning efficiency and performance. This paper evaluates the performance of Portuguese pension fund management companies from 1994 to 2003, using a Cobb-Douglas stochastic cost frontier model to generate their efficiency scores. We conclude that the price of labour, the price of capital-management services and the price of capital-premises, as well as profits, the number of participants, the number of closed funds and the decision...

February 4, 2017

Articles, Corporate Governance, InvestingFunding

04FebFebruary 4, 2017

Review: Public Pension Plan Funding: Can We Honor the Promises Made?

By Marguerite Schneider (more…)

February 4, 2017

Articles, InvestingFunding, Social pensions (first pilar), Social Protection

04FebFebruary 4, 2017

Retirement delay unified or differentiated: based on the interaction between pension deficit and labor market

By Zou Tieding & Ye Hang The pension deficit has been rapidly enlarging for more than a decade. If the retirement age is set at a low level, it might trigger a pensions crisis. Since the average life span of the Chinese has extended from 71 to 76 years old in last ten years, the feasibility of rising the retirement age has also been promoted. Methods: This paper aims to construct a mathematical model for choosing a proper policy about...

February 4, 2017

Aging, Articles, Labor Market, System SustainabilityAging (and old age), Political economy, Sustainability

04FebFebruary 4, 2017

Pension supervision: understanding international practice and country context

By Richard P. Hinz & Anca Mataoanu (more…)

February 4, 2017

Articles, Regulation, SupervisionPolitical economy, Sustainability

04FebFebruary 4, 2017

Reforming retirement age in DB and DC pension systems in an aging OLG economy with heterogenous agents

By Joanna Tyrowicz, Krzysztof Makarski and Marcin Bielecki We analyze the effects of increasing the retirement age in two economies with overlapping generations and within cohort ex ante heterogeneity. The first economy has a defined benefit system, and the second economy is in transition from a defined benefit to a defined contribution. We find that if increase in the retirement age is phased in a way that allows agents to adjust, welfare is not reduced and welfare effects have a...

February 4, 2017

Aging, Articles, Pension designLabor Market, Political economy

04FebFebruary 4, 2017

Redesigning pension systems: the institutional structure of pension systems should follow population developments

By Marek Gora For decades, pension systems were based on the rising revenue generated by an expanding population (demographic dividend). As changes in fertility and longevity created new population structures, however, the dividend disappeared, but pension systems failed to adapt. They are kept solvent by increasing redistributions from the shrinking working-age population to retirees. A simple and transparent structure and individualization of pension system participation are the key preconditions for an intergenerationally just old-age security system. Full Content: EconBiz

February 4, 2017

Articles, Books, Labor Market, Pension design, Regulation

04FebFebruary 4, 2017

Do Non-Monetary Prices Target the Poor? Evidence from a Field Experiment in India

By Bridget Hoffmann This paper uses willingness to pay (WTP) data from a field experiment in Hyderabad, India in 2013 to determine whether non-monetary prices better target health products to the poor than monetary prices. Monetary WTP is increasing in income and non-monetary WTP is weakly decreasing in income. Household fixed effects in a pooled sample of monetary WTP and non-monetary WTP are used to compare the correlation of income and WTP across price types. It is found that non-monetary...

February 4, 2017

Articles, Labor Market, Pension designSocial Protection

04FebFebruary 4, 2017

Balance Sheet Effects in Colombian Non-Financial Firms

By Sergio Restrepo, Adolfo Barajas, César Pabón & Roberto Steiner After building up foreign currency-denominated (FC) liabilities over several years, the balance sheets of Colombian firms might be particularly vulnerable to a shift in external conditions. This paper undertakes four exercises in order to get a better understanding of these vulnerabilities. First, probit/logit estimations are used to identify the firm-level and macroeconomic determinants of FC borrowing by non-financial corporations. Second, the implications of the balance sheet vulnerability for real activity...

February 4, 2017

Articles, Investing, RegulationCorporate Governance, Political economy

04FebFebruary 4, 2017

What Capabilities Do the New Innovation and Structural Change Policies in Uruguay Require?

By Carlos Bianchi, Guillermo Fuentes, Lucía Pittaluga This paper analyzes three organizations that implement productive development policies in Uruguay: (i) the Dirección Nacional de Recursos Naturales Renovables (National Directorate of Renewable Natural Resources); (ii) sectoral councils; and (iii) the Agencia Nacional de Investigación e Innovación (National Agency of Research and Innovation). Selected cases show that during the past decade, there was a major effort to boost productive development policies in Uruguay and build capabilities for that purpose. The paper also...

February 4, 2017

Articles, Regulation, System SustainabilityCorporate Governance, Sustainability

February 2017