nep-age New Economics Papers
on Economics of Ageing
Issue of 2021‒04‒12
eight papers chosen by
Claudia Villosio
LABORatorio R. Revelli

  1. Financial Gerontology By Klimczuk, Andrzej; Selecký, Erik
  2. Career Spillovers in Internal Labor Markets By Nicola Bianchi; Giulia Bovini; Jin Li; Matteo Paradisi; Michael L. Powell
  3. Area Agencies on Aging By Klimczuk, Andrzej; Perkins, Fatima
  4. Social Entrepreneurship and Social Innovation in Aging By Klimczuk, Andrzej; Felix, Jorge
  5. How fast must vaccination campaigns proceed in order to beat rising Covid-19 infection numbers? By Claudius Gros; Daniel Gros
  6. Age- and Gender-Specific Excess Mortality during the Covid-19 Pandemic in Hungary in 2020 By Tóth, Csaba G.
  7. The health consequences of excess emissions: Evidence from Texas By Hollingsworth, Alex; Konisky, David; Zirogiannis, Nikos
  8. Asegurar la Gran Edad By José A. Herce

  1. By: Klimczuk, Andrzej; Selecký, Erik
    Abstract: Financial gerontology can be defined as investigating relations between finances and aging. Authors such as Neal E. Cutler, Kouhei Komamura, Davis W. Gregg, Shinya Kajitani, Kei Sakata, and Colin McKenzie (Kajitani et al. 2017) affirm that financial literacy is an effect of aging with concern about the issue of finances, as well as stating that it is the effect of longevity and aging on economies or the financial resilience of older people.
    Keywords: Financial Gerontology
    JEL: G29 J14
    Date: 2020
  2. By: Nicola Bianchi; Giulia Bovini; Jin Li; Matteo Paradisi; Michael L. Powell
    Abstract: This paper studies career spillovers across workers, which arise in firms with limited promotion opportunities. We exploit a 2011 Italian pension reform that unexpectedly tightened eligibility criteria for the public pension, leading to sudden, substantial, and heterogeneous retirement delays. Using administrative data on Italian private-sector workers, the analysis leverages cross-firm variation to isolate the effect of retirement delays among soon-to-retire workers on the wage growth and promotions of their colleagues. We find evidence of spillover patterns consistent with older workers blocking the careers of their younger colleagues, but only in firms with limited promotion opportunities.
    JEL: J21 J26 J31 M51 M52
    Date: 2021–03
  3. By: Klimczuk, Andrzej; Perkins, Fatima
    Abstract: An area agency on aging (AAA) is a public or private nonprofit organization designated by the state to address the needs and concerns of all older persons at the regional and local levels in the United States (Administration for Community Living (ACL) 2019). AAAs have a successful history of developing, coordinating, and implementing comprehensive networks of services and programs that enrich communities and the lives of older adults. AAAs were established through a provision of the Older Americans Act (OAA 1965), which was signed into law by President Lyndon B. Johnson. Specifically, AAAs were created with the 1973 reauthorization of the OAA. AAAs create the infrastructure to execute comprehensive long-term support services that ensure the independence of older adults.
    Keywords: Aging and disability resource centers; Information about public services for older people and people with disabilities; Resources for older citizens, people with disabilities and their families; Support, services, and information for older people and people with disabilities
    JEL: J14 J18
    Date: 2020
  4. By: Klimczuk, Andrzej; Felix, Jorge
    Abstract: Social entrepreneurship is usually understood as an economic activity which focuses at social values, goals, and investments that generates surpluses for social entrepreneurs as individuals, groups, and startups who are working for the benefit of communities, instead of strictly focusing mainly at the financial profit, economic values, and the benefit generated for shareholders or owners. Social entrepreneurship combines the production of goods, services, and knowledge in order to achieve both social and economic goals and allow for solidarity building. From a broader perspective, entities that are focused on social entrepreneurship are identified as parts of the social and solidarity economy. These are, for example, social enterprises, cooperatives, mutual organizations, self-help groups, charities, unions, fair trade companies, community enterprises, and time banks. Social innovation is a key element of social entrepreneurship. Social innovation is usually understood as new strategies, concepts, products, services, and organizational forms that allow for the satisfaction of needs. Such innovations are created in particular in the contact areas of various sectors of the social system. For example, these are spaces between the public sector, the private sector, and civil society. These innovations not only allow the solving of problems but also extend possibilities for public action.
    Keywords: Aging and Entrepreneurship; Aging and Innovation; Entrepreneurship in Aging Population; Older People As Social Entrepreneurs and Social Innovators; Social and Solidarity Economy and Aging Populations
    JEL: J14 J18 O35
    Date: 2020
  5. By: Claudius Gros; Daniel Gros
    Abstract: We derive an analytic expression describing how health costs and death counts of the Covid-19 pandemic change over time as vaccination proceeds. Meanwhile, the disease may continue to spreads exponentially unless checked by Non Pharmacological Interventions (NPI). The key factors are that the mortality risk from a Covid-19 infection increases exponentially with age and that the sizes of age cohorts decrease linearly at the top of the population pyramid. Taking these factors into account, we derive an expression for a critical threshold, which determines the minimal speed a vaccination campaign needs to have in order to be able to keep fatalities from rising. Younger countries with fast vaccination campaigns find it substantially easier to reach this threshold than countries with aged population and slower vaccination. We find that for EU countries it will take some time to reach this threshold, given that the new, now dominant, mutations, have a significantly higher infection rate. We also find that protecting the over 60 years old, which constitute one quarter of the EU population, would reduce the loss of live by 95 percent.
    Date: 2021–03
  6. By: Tóth, Csaba G.
    Abstract: The excess mortality indicator is able to capture how an epidemic affects a country’s mortality processes, taking into account direct and indirect, as well as possible effects in different directions. From the point of view of mortality processes in Hungary, the main feature of the first months of 2020 was that seasonal flu claimed fewer victims than in previous years, for this reason we examined last year’s excess mortality for the period between weeks 12 and 52 related to the coronavirus epidemic using a stochastic mathematical model. According to our calculations, excess mortality related to the coronavirus epidemic in Hungary was 13,700 people in 2020, which means a 14% excess in the period under review. Eighty-six percent of those who died were over the age of 65, 10 percent were between the ages of 50 and 64, and the proportion of those aged 49 or younger was 4 percent. In almost all age groups, the excess mortality rate was nearly twice as high for men as for women. According to our calculations, excess mortality was roughly one and a half times the number of victims claimed by the epidemic in 2020 according to official statistics, and we also found a significant difference between the time course of the two indicators.
    Keywords: Excess mortality, Covid-19, mortality, Demography, Flu, Hungary
    JEL: C10 I10 J10 J19
    Date: 2021–03
  7. By: Hollingsworth, Alex; Konisky, David; Zirogiannis, Nikos
    Abstract: Excess emissions are air pollution releases that exceed permitted levels and occur during facility start-ups, shutdowns, or malfunctions. While they are violations of the federal Clean Air Act, states have historically granted violating facilities automatic exemptions; limiting enforcement and weakening existing regulation. Recent efforts to harmonize state and federal rules have ignited debate surrounding optimal excess emissions regulation. Using Texas data from 2002-2017, we show robust evidence on the costs of excess emissions. We find that excess emissions increase harmful nearby pollution and elderly mortality, and are responsible for an average of 35 annual deaths in Texas alone. Using excess emissions as an instrument for ozone concentrations, we find that a 10% increase in monthly average ozone increases elderly mortality by 3.9%, driven by increased deaths in the oldest age groups.
    Date: 2021–04–05
  8. By: José A. Herce
    Abstract: Ante el creciente aumento de la esperanza de vida tanto la Seguridad Social como la Industria de las Pensiones se enfrentan a problemas que, teniendo soluciones básicas al alcance de la mano, carecen de viabilidad debido a una resistencia al cambio mezcla de lentitud institucional y apego a los moldes cuyas junturas estallan bajo la presión del alargamiento de la vida. Se propone un diseño de las pensiones susceptible de facilitar el cambio necesario para que el avance de la esperanza de vida sea compatible con pensiones suficientes y sostenibles. La clave del cambio es aceptar que los 65 años ya no representan lo que hace más de un siglo hubiéramos denominado “la gran edad” que la Seguridad Social debería asegurar.
    Date: 2021–03

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