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on Economics of Ageing |
| By: | Tony Randle; Heinz P. Rudolph |
| Keywords: | Finance and Financial Sector Development - Financial Literacy Finance and Financial Sector Development - Debt Markets Pensions and Retirement Systems Finance and Financial Sector Development - Mutual Funds Private Sector Development - Emerging Markets Social Protections and Labor |
| Date: | 2014–03 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wboper:17791&r=age |
| By: | Matthias Giesecke |
| Abstract: | The behavioural response with respect to actuarial adjustments in the German public pension system is analysed. The introduction of actuarial adjustments serves as a source of exogenous variation to estimate discrete time transition rates into retirement. The analysis is conducted on administrative data from social security records and on survey data in a comparative scenario. Probability mass points that occur for institutional reasons and due to social norms are controlled for. Moreover, worker heterogeneity is taken into account, which has not been addressed in the previous literature. The results show that on average retirement is postponed by five months due to financial incentives via actuarial adjustments. However, this response is about 40 per cent lower for manual workers compared to non-manual workers which indicates that their retirement income may deteriorate. |
| Keywords: | Natural experiment; actuarial adjustments; retirement; worker heterogeneity |
| JEL: | C41 H55 J26 |
| Date: | 2014–06 |
| URL: | http://d.repec.org/n?u=RePEc:rwi:repape:0490&r=age |
| By: | Alicia H. Munnell; Jean-Pierre Aubry |
| Abstract: | The brief’s key findings are: *Private sector multiemployer pension plans, which are negotiated by a union with a group of employers, have become a focus of congressional interest. *Multiemployer plans have been hurt by an expansion of benefits during the 1990s and the twin financial crises since 2000. *Most are recovering, but a substantial minority faces serious funding problems. *These problems are exacerbated by unique structural challenges: *the cyclical nature of the construction industry, which covers the most plan participants; *a low ratio of active to total participants that increases the burden on underfunded plans; and *insufficient penalties for employers who withdraw from the plans. |
| Date: | 2014–08 |
| URL: | http://d.repec.org/n?u=RePEc:crr:issbrf:ib2014-13&r=age |
| By: | Richard J. Manski; John F. Moeller; Haiyan Chen; Jody Schimmel; Patricia A. St. Clair; John V. Pepper |
| Abstract: | This study examined the use of physician, inpatient hospital, home health, and outpatient surgery for Americans more than 50 years of age. The study found that overall health and changes in health are more strongly correlated with seeking and using health care over time than financial status or changes to one’s financial status. |
| Keywords: | Health Care Utilization, Older Americans, Health Insurance Coverage, Health |
| JEL: | I |
| Date: | 2013–07–30 |
| URL: | http://d.repec.org/n?u=RePEc:mpr:mprres:7814&r=age |
| By: | Pinto Prades, Jose Luis (Glasgow Caledonian University, Glasgow, Scotland); Brey Sanchez, Raul (University Pablo de Olavide, Sevilla, Spain) |
| Abstract: | We provided more evidence on the functional relationship between willingness to pay for risk reductions and age (the senior discount). We overcome many of the limitations of previous literature that has dealt with this problem, namely, the influence of the assumptions used in statistical models on the final results. Given our large sample size (n=6024) we can use models that are very demanding on sample size. We show that all models predict the same inverse U-shaped relationship between WTO for risk reductions and age. We use several models, parametric (linear, cuadratic, dummies), semi-nonparametric and non-parametric. Results are consistent under all the different models. We also compare the marginal and the total approach and we show that they provide similar results. However, we also overcome one of the limitations of the total approach, that is, it includes the effects of all socioeconomic characteristics that are correlated with age. Given our sample size, we compare age groups that are similar in education and income. We observe that the seniority effect is only present for low income people. |
| Keywords: | 2014-04 |
| Date: | 2014–04 |
| URL: | http://d.repec.org/n?u=RePEc:yun:hewpse:201401&r=age |
| By: | Andersson, Elvira (Lund University); Lundborg, Petter (Lund University); Vikström, Johan (IFAU) |
| Abstract: | In this paper, we study the short-run effect of salary receipt on mortality among Swedish public sector employees. By exploiting variation in pay-days across work-places, we completely control for mortality patterns related to, for example, public holidays and other special days or events coinciding with paydays and for general within-month and within-week mortality patterns. We find a dramatic increase in mortality on the day salaries arrive. The increase is especially pronounced for younger workers and for deaths due to activity-related causes such as heart conditions and strokes. Additionally, the effect is entirely driven by an increase in mortality among low income individuals, who are more likely to experience liquidity constraints. All things considered, our results suggest that an increase in general economic activity upon salary receipt is an important cause of the excess mortality. |
| Keywords: | income, mortality, health, consumption, liquidity constraints, permanent income hypothesis |
| JEL: | D91 H31 H55 I10 I12 I38 |
| Date: | 2014–08 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp8389&r=age |
| By: | Xiao-yuan Dong; Jin Feng; Yangyang Yu |
| Abstract: | The market of domestic services in China has grown rapidly since the country embarked on market transition in the late 1970s. Domestic workers for eldercare are in especially high demand as a result of the aging population and the changing family structure. This paper examines the relative pay of domestic workers for eldercare and its underlying determinants. The estimates show that holding constant the observable individual characteristics, domestic workers for eldercare earn 24 percent less than do other types of workers in the service sector in Shanghai. The analysis attributes the low wage of eldercare workers to the fact that domestic work is culturally devaluated, that eldercare is performed by workers from the most marginalized segment of the labour force in the cities, and that the users of eldercare are relatively poor among the users of paid domestic services. |
| Date: | 2014–07 |
| URL: | http://d.repec.org/n?u=RePEc:win:winwop:2014-01&r=age |