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on Economics of Ageing |
| By: | HAMAAKI Junya |
| Abstract: | This paper examines whether consumption reacts to an anticipated income increase arising from the start of pension benefit payments. Using household-level data, the analysis indicates that although consumption increases significantly in the year that pension benefit payouts start, it falls back to the previous level in later years. Further analysis shows that, consistent with the presence of bounded rationality, the consumption response to the start of pension payments of households for which pension benefits account for a relatively small proportion of their disposable income is more pronounced than for households which rely on pension benefits as their major source of income. |
| Date: | 2013–06 |
| URL: | http://d.repec.org/n?u=RePEc:esj:esridp:298&r=age |
| By: | Cooper, Daniel H. (Federal Reserve Bank of Boston); Luengo-Prado, Maria Jose (Federal Reserve Bank of Boston) |
| Abstract: | The U.S. labor force participation rate has declined sharply since 2007—far faster than can be explained by demographic shifts in the population. This brief analyzes the re-entry probability for individuals who exit the labor force as well as the financial demographic, and employment characteristics of these individuals. The vast majority of individuals under 45 years of age re-enter the labor market within four years of exiting; however, the re-entry rate drops substantially for 50–54 year-olds and 55–59 year-olds. Those individuals who exit the labor market appear more marginally attached to the labor force, and they have less financial resources to sustain themselves during long periods of being out of work. There is also some evidence that intra-household labor market substitution occurs when the household head exits the labor market first/first exits the labor market. |
| JEL: | J21 |
| Date: | 2014–09–03 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedbcq:2014_002&r=age |
| By: | Raouf Boucekkine (Aix-Marseille School of Economics, Université Aix-Marseille, France); Giorgio Fabbri (EPEE, Université d’Evry-Val-d’Essonne (TEPP, FR-CNRS 3126), France); Fausto Gozzi (Dipartimento di Scienze Economiche ed Aziendali, Universit`a LUISS - Guido Carli Rome, Italy) |
| Abstract: | We study the compatibility of the optimal population size concepts produced by different social welfare functions and egalitarianism meant as “equal consumption for all individuals of all generations”. Social welfare functions are parameterized by an altruism parameter generating the Benthamite and Millian criteria as polar cases. The economy considered is in continuous time and is populated by homogeneous cohorts with a given life span. Production functions are linear in labor, (costly) procreation is the unique way to transfer resources forward in time. First, we show that egalitarianism is optimal whatever the degree of altruism in “perpetual youth” model, that’s when lifetime span is finite but age structure does not matter: in this case egalitarianism does not discriminate between the social welfare functions considered. Then we show that, when life span is finite but age structure matters, egalitarianism does not arise systematically as an optimal outcome. In particular, in a growing economy, that is when population growth is optimal in the long-run, this egalitarian rule can only hold when the welfare function is Benthamite. When altruism is impure, egalitarianism is impossible in the context of a growing economy. Either in the Benthamite or impure altruism cases, procreation is never optimal for small enough life spans, leading to finite time extinction and maximal consumption for all existing individuals. |
| Keywords: | Egalitarianism, age structure, total utilitarianism, impure altruism, endogenous growth |
| JEL: | D63 D64 C61 O40 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:eve:wpaper:14-07&r=age |
| By: | MURATA Takashi; KITAOKA Michiyo; NOJIMA Kumie |
| Abstract: | The future of Japanese society is going to depend on two trends: the rapid aging of our citizens, which is unprecedented in human history, and something called “individual editorial control”. These trends—like them or not—have permeated deeply into Japan. We need to develop innovative fundamentals that create a safer society with far less fear. In this report we discuss ways to improve society with the use of cutting-edge technologies such as information and communication technology that allows individuals to become more aware of the power that information can have over their own lives. One example is the employment of radiological sciences and nuclear medicine toward non-invasive medical care for our senior citizens. In this study, considering the radiation-related fields, we found it important to converge the results of various R&D activities for the realization of a safer and less-fearful society. |
| Date: | 2014–02 |
| URL: | http://d.repec.org/n?u=RePEc:esj:esridp:307&r=age |
| By: | World Bank |
| Keywords: | Health Monitoring and Evaluation Information Security and Privacy Technology Industry Health, Nutrition and Population - Population Policies Private Sector Development - E-Business Information and Communication Technologies Industry |
| Date: | 2014–07 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wboper:19979&r=age |