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May 2019

Selfies for Portugal- An innovative Pan European Retirement Solution

By Robert C. Merton, Arun Muralidhar, Rui Seybert P Ferreira With a rapidly aging population, Portugal faces some serious pension challenges including a Social Security system which is under pressure, and pension benefits gradually approaching levels that will require individuals to supplement Social Security with private savings. In addition, Portugal has a low rate of financial literacy and hence transferring the responsibility of retirement planning to the general population runs a major risk of many individuals retiring poor. While some...

April 2019

Social Security Coverage Around the World: The Case of China and Mexico

By Francisco Perez‐Arce (Åbo Akademi University - Economics & Statistics), María Prados (University of Southern California), Erik Meijer (University of Southern California; RAND Corporation), Jinkook Lee (University of Southern California - Center for Economic & Social Research; Program on Global Aging, Health & Policy, Center for Economic & Social Research; RAND Corporation) We describe the current state and recent trends in the landscape of social security programs in China, Mexico, and India. A common thread across these countries is the...

Blockchain in Healthcare: Innovations That Empower Patients, Connect Professionals and Improve Care

By Vikram Dhillon, John Bass, Max Hooper, David Metcalf, Alex Cahana Blockchain technology is poised to revolutionize more than just payment and crypto-currency. Many vertical industries will be reshaped by the new trusted data models enabled and inspired by the blockchain - healthcare is no exception. In fact, healthcare may hold the greatest opportunities for meaningful use of the technology. Early pioneers have explored some of the first use cases for medical payments, electronic health records, HIPAA/data privacy, drug counterfeiting,...

Fair Pensions

By Ilja Boelaars (University of Chicago) & Dirk Broeders (De Nederlandsche Bank; Maastricht University) This paper examines the allocation of market risk in a general class of collective pension arrangements: Collective Defined Contribution (CDC) schemes. In a CDC scheme participants collectively share funding risk through benefit level adjustments. There is a concern that, if not well designed, CDC schemes are unfair and will lead to an unintended redistribution of wealth between participants and, in particular, between generations. We define a...

An Economic Analysis of Intra-governmental Account Transfers: Social Security and Public Infrastructure in Japan

By Yoshimi Adachi (Konan University - Department of Economics) & Tomoki Kitamura (Tohoku Gakuin University; NLI Research Institute, Finance Research Group) In the context of limited local government resources, it is often targeted to secure financial resources for social security expenditures for the aging society and upkeep expenditures against the aging of public infrastructure facilities. This paper examines whether transfers from general accounts to special accounts and public enterprise accounts have a significant impact on the financial burden of local...

The Dynamism of the New Economy: Non-Standard Employment and Access to Social Security in EU-28

By Sonja Avlijas (LIEPP - Sciences Po) This paper examines the prevalence of non-standard workers in EU-28, rules for accessing social security, and these workers’ risk of not being able to access it. It focuses on temporary and part-time workers, and the self-employed, and offers a particularly detailed analysis of their access to unemployment benefits. It focuses on eligibility, adequacy (net income replacement rates) and identifies those workers which are at the greatest risk of either not receiving benefits or...

March 2019

The phony retirement crisis

By Andrew Biggs Contrary to the alarms, household savings are growing. But government plans are underfunded. Lawmakers are taking action to deal with the “retirement crisis.” More than 200 House Democrats are sponsoring a bill to expand Social Security benefits, funded by a dramatic increase in taxes. California, Connecticut, Illinois and Oregon have established state-run retirement plans for private sector-workers, which many progressives hope will supplant 401(k)s. But there is no retirement crisis among either today’s retirees or tomorrow’s. Eight in 10...

Reforming Social Security: The Challenge of Income Inequality

By David W. Rasmussen (Pepper Institute on Aging and Public Policy) Objective: This article examines the role Social Security plays in alleviating poverty among retirees in the context of threats to its solvency.  Method: Examining long-term employment trends, declining access to defined benefit pensions and saving behavior can determine if in the more future Social Security beneficiaries are likely to be poor.  Results: Labor market trends driven by technical change, global competition and increasing demand for services indicate that more future retirees...

February 2019

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...

The Economic Effects of the UK Government's Proposed Brexit Deal

By Arno Hantzsche (National Institute of Economic and Social Research; University of Nottingham), Amit Kara (Bank of England - Monetary Policy Committee), Garry Young (National Institute of Economic and Social Research) The focus of our analysis is on how the UK government's proposed Brexit deal is likely to affect the economy. First, we assess how trade, migration, foreign direct investment, productivity and contributions to the EU budget might change by reviewing current proposals against historical evidence. Second, we use the...