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February 2018

05Feb

Parents with an Unemployed Adult Child: Labor Supply, Consumption, and Savings Effects

By Kathryn Anne Edwards (RAND Corporation) & Jeffrey B. Wenger (RAND Corporation; American University - School of Public Affair) The risk of labor market, health, and asset-value shocks comprise profound retirement savings challenges for older workers. Parents, however, may experience added risk if their children experience adverse labor market shocks. Prior research has shown that parents support their children financially through an unemployment spell. In this paper, we also provide evidence of financial support from parents and investigate if this...

February 5, 2018
Aging, Articles, Labor Market, ,
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January 2018

31Jan

Confidence in Retirement – How well are Kenyans prepared for retirement?

By Strathmore University The purpose of this study is to assess and evaluate the views and attitudes of working age Kenyans who are members of a registered workplace pension schemes. The study reveals the extent in which different factors influence individual’s level of optimism or pessimism about retirement as well as Kenyans actions to prepare for retirement. (more…)

January 31, 2018
Aging, Articles, Labor Market, Pension design, Slider-Left, , ,
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29Jan

Understanding Earnings, Labor Supply, and Retirement Decisions

By Xiaodong Fan (University of New South Wales (UNSW)), Ananth Seshadri (University of Wisconsin - Madison - Department of Economics) & Christopher Taber (National Bureau of Economic Research (NBER); University of Wisconsin - Madison) We develop and estimate a model in which individuals make decisions on consumption, human capital investment, labor supply, and retirement. Unlike all previous work, our model allows both an endogenous wage process (which is typically assumed exogenous in the human capital and earnings dynamics literature). In...

January 29, 2018
Aging, Articles, Labor Market, , ,
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29Jan

Work-Life Balance and Labor Force Attachment at Older Ages

By Marco Angrisani (Center for Economic and Social Research (CESR)), Maria Casanova (University of California, Los Angeles (UCLA) - Department of Economics) & Erik Meijer (University of Southern California; RAND Corporation) We use data from the Health and Retirement Study to examine the role of work-life balance (WLB) as a nonmonetary determinant of retirement transitions, conditional on job attributes such as hours of work, compensation and benefits. We show that low levels of WLB are significantly associated with subsequent reductions...

January 29, 2018
Aging, Articles, Labor Market, Slider-Left, ,
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29Jan

A European Pensions Union: Towards a Strengthening of the European Pension Systems

By Pascal Borsjé (Clifford Chance LLP) & Hans van Meerten (Utrecht University - Utrecht Centre for Shared Regulation and Enforcement in Europe – RENFORCE) This contribution will especially address the EC’s general policy in respect of the IORP II Proposal, also in connection with general more recent EU law developments, and its consequences for the pension systems of the EU Member States, with a focus on the occupational pension system of the Netherlands. (more…)

January 29, 2018
Articles, Labor Market, Pension design, Regulation, , ,
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22Jan

The Devil You Know: A Survey Examining How Retail Investors Seek Out and Use Financial Information and Investment Advice

By Christine Sgarlata Chung (Albany Law School) Everyday, people across the United States make decisions that will affect their financial futures — e.g., borrowing money to buy a house, go to college, or start a business; investing in the stock market to save for retirement; using check cashing services or payday lenders rather than accounts at banks or credit unions for day-to-day banking needs, and the like. Traditional tenets of financial economics and investment theory assume that people make fully...

January 22, 2018
Articles, Investing, Labor Market, Savings, , , ,
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22Jan

Simulating Pension Income Scenarios with Pencalc: An Illustration for India’s National Pension System

By Renuka Sane (Indian Statistical Institute, New Delhi) & William Joseph Price (World Bank) This paper sets out initial results from a new modeling exercise for Defined Contribution (DC) pensions. It develops a package called penCalc based on the open source software language R, which is popular in the academic and modeling communities. All the coding is made freely available. The tool is illustrated for India's DC National Pension System. The aim is not to present the perfect model for...

January 22, 2018
Articles, Labor Market, Pension design, Regulation, , , ,
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22Jan

Simulating Pension Income Scenarios with Pencalc: An Illustration for India's National Pension System

By Renuka Sane (Indian Statistical Institute, New Delhi) & William Joseph Price (World Bank) This paper sets out initial results from a new modeling exercise for Defined Contribution (DC) pensions. It develops a package called penCalc based on the open source software language R, which is popular in the academic and modeling communities. All the coding is made freely available. The tool is illustrated for India's DC National Pension System. The aim is not to present the perfect model for...

January 22, 2018
Articles, Labor Market, Pension design, Regulation, , , ,
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15Jan

The Standard of Living: Incomes, Wages and Lending in Regions

By Alexandra Burdyak (Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute for Social Analysis and Prediction) & Elena E. Grishina (Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Social Analysis and Forecasting) In January–October 2017, households’ real disposable cash income fell by 1.3% as compared to the relevant period of 2016. It is noteworthy that real accrued wages rose by 3.0%, while the real size of assigned pensions, by 3.9%. During...

January 15, 2018
Articles, Labor Market, Savings, ,
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15Jan

Nudging Financial and Demographic Literacy: Experimental Evidence from an Italian Trade Union Pension Fund

By Francesco C. Billari (Bocconi University - Department of Policy Analysis and Public Management), Carlo A. Favero (Bocconi University - Department of Finance; Centre for Economic Policy Research (CEPR)) & Francesco Saita (Bocconi University - Department of Finance) In this article, we present and test experimentally a low-cost, Internet-based, financial literacy program that we designed for implementation with the largest industrial pension fund in Italy. The program, Finlife (Financial Education and Planning for a Long Life) included 1) an instructional...

January 15, 2018
Articles, Labor Market, Savings, , , ,
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