September 2017

08Sep

Financial Literacy and Inclusive Growth: Challenges and Opportunities

By Dinesha P. T. Sr. (University of Mysore) In India, financial literacy could now be only for the disadvantaged needy / underprivileged / poor but this is a continuous process where all citizens of the country should be periodically educated, which would become a certain tool to pave for the economic growth and the strength of the country. Recently our Prime Minister has announced series of ambitious social security schemes, relating to the pension and insurance sector and intended at...

September 8, 2017
Adequacy, Articles, Labor Market, Slider-Left, ,
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01Sep

Do Good Working Conditions Make You Work Longer? Evidence on Retirement Decisions Using Linked Survey and Register Data

By Petri Bockerman (Labour Institute for Economic Research; University of Turku) and Pekka Ilmakunnas (Aalto University School of Business) We analyze the potential role of adverse working conditions and management practices in the determination of employees' retirement behavior. Our data contain both comprehensive information regarding perceived job disamenities, job satisfaction, and intentions to retire from nationally representative cross-sectional surveys and information on employees' actual retirement decisions from longitudinal register data that can be linked to the surveys. Using a trivariate...

September 1, 2017
Adequacy, Aging, Articles, Labor Market, ,
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01Sep

Debt and Financial Vulnerability on the Verge of Retirement

By Annamaria Lusardi, Olivia S. Mitchell & Noemi Oggero We analyze older individuals’ debt and financial vulnerability using data from the Health and Retirement Study (HRS) and the National Financial Capability Study (NFCS). Specifically, in the HRS we examine three different cohorts (individuals age 56–61) in 1992, 2004, and 2010 to evaluate cross-cohort changes in debt over time. We also use two waves of the NFCS (2012 and 2015) to gain additional insights into debt management and older individuals’ capacity...

September 1, 2017
Aging, Articles, Labor Market, Savings, Slider-Left, , ,
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August 2017

29Aug

Inmigracion y Sostenibilidad del Sistema de Pensiones En España

Por Carlos Borondo, Zen N Jim Nez-Ridruejo Ayuso, Carmen Lorenzo Lago Los procesos migratorios alteran sustancialmente los vinculos existentes entre las cotizaciones y las prestaciones en los sistemas publicos de pensiones. En el caso de Espana la evolucion demografica y del mercado de trabajo se han visto profundamente modificados por la presencia de un intenso flujo de inmigrantes, que han influido de un modo manifiesto sobre el balance y la capacidad del sistema de pensiones publicas de jubilacion, mejorando las...

August 29, 2017
Books, Labor Market, Regulation, System Sustainability, ,
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27Aug

Self-Awareness, Financial Advice and Retirement Savings Decisions

By Anders Anderson (Swedish House of Finance) & David T. Robinson (Fuqua School of Business,) Using a financial literacy survey of Swedish pension investors matched to actual retirement savings decisions, we break respondents into three groups: those who are financially literate, those who mistakenly believe they are financially literate, and those who know that they are not. Investors with mistaken beliefs are more likely to work with mass-market advisors who steer them into high-fee funds. They underperform as a result....

August 27, 2017
Articles, Investing, Labor Market, Savings
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20Aug

Do Older Americans Have More Income Than We Think?

By Charles Adam Bee & Joshua W Mitchell (US Census Bureau) The Current Population Survey Annual Social and Economic Supplement (CPS ASEC) is the source of the nation’s official household income and poverty statistics. In 2012, the CPS ASEC showed that median household income was $33,800 for householders aged 65 and over and the poverty rate was 9.1 percent for persons aged 65 and over. When we instead use an extensive array of administrative income records linked to the same...

August 20, 2017
Articles, Labor Market,
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13Aug

The Macroeconomic Impact of Fertility Changes in an Aging Population

By Neha Bairoliya, Ray Miller (Harvard University) & Akshar Saxena (Harvard University - T.H. Chan School of Public Health) We assess the impact of continued low fertility in China, versus a rebound in fertility due to the relaxation of the one child policy, on demographic and macroeconomic outcomes in a dynamic general equilibrium framework. We use a rich model of human capital investment, public health insurance, pensions, private savings, and intra-family transfers to support the consumption of young and elderly...

August 13, 2017
Aging, Articles, Labor Market, Savings, , , ,
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06Aug

Do Stereotypes About Older Workers Change? Evidence from a Panel Study Among Employers

By Hendrik P. van Dalen (Tilburg University) & Kene Henkens (Netherlands Interdisciplinary Demographic Institute) Background: Stereotypies of older workers and their productive value are believed to contrast with their actual potential. Still, these stereotypes among employers persist. Objective: This article examines whether managers have changed their views on older workers and if so what the driving forces are of these changes. Methods: Using panel data we examine the changes in attitudes among Dutch managers about the productive skills of older workers (50...

August 6, 2017
Aging, Articles, Labor Market
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06Aug

How Do Local Labor Markets Affect Retirement?

By Leora Friedberg (University of Virginia), Michael Owyang (Federal Reserve Bank of St. Louis), Wei Sun (Renmin University of China) & Anthony Webb (Boston College) Compared with prime-age workers, older workers face an easier path out of the labor force if they lose their jobs during a recession. However, premature job exits or earnings losses in the years leading up to retirement may be particularly devastating to retirement savings. The authors analyze the impact of recent business cycles on retirement...

August 6, 2017
Articles, Labor Market, Savings
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01Aug

El ahorro en México desde 1960

Durante las últimas décadas el tema del ahorro ha figurado como un punto central en las discusiones académicas y entre los responsables de formular las políticas económicas en diversos países y organismos internacionales. Experiencias internacionales recientes en algunos países contribuyeron a reavivar el debate sobre la importancia que tendría el ahorro para garantizar un crecimiento sostenido. Leer más: AQUÍ

August 1, 2017
Books, Labor Market, Savings, Spanish
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