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on Economics of Ageing |
| By: | Julian Diaz Saavedra (Department of Economic Theory and Economic History, University of Granada.) |
| Abstract: | The gap in the life expectancy of the elderly across educational groups is high, and this will probably increase over the coming decades. In this article, we use a computable overlapping generations model economy to show that the long-term link between heterogeneity in longevity and education could translate into an implicit tax/subsidy on the expected lifetime benefits to lifetime payroll taxes ratio, with rates around 10 percent, and that such rates pervert redistributive objectives of pension systems. We then analyze some parametric changes aimed at restoring the progressiveness of these systems in the long run, and find that a higher minimum pension or changes in the pension benefit formula go a long way as a tools to restore the system’s long-term progressivity. |
| Keywords: | Computable general equilibrium, social security reform, redistribution. |
| JEL: | C68 H55 H23 |
| Date: | 2021–09–26 |
| URL: | http://d.repec.org/n?u=RePEc:gra:wpaper:21/07&r= |
| By: | Owen Davis; Bridget Fisher; Teresa Ghilarducci; Siavash Radpour (Schwartz Center for Economic Policy Analysis (SCEPA)) |
| Abstract: | An examination of the status of older workers in June of 2021 reveals three highlights: 1.) Retirement Boom: At least 1.7 million more older workers than expected retired due to the pandemic recession. (2.) Retirement Inequality: At earlier ages, vulnerable older workers retired sooner, while more privileged workers delayed retirement. The share of retired workers among adults aged 55-64 rose 5% for those without a college education but fell 4% for those with a college degree.(3.) Racial Inequality: Black workers without a college degree experienced the highest increase in the share who are retired before age 65. This rate rose 1.5 percentage points, from 16.4% to 17.9%, between 2019 and 2021. |
| Keywords: | older workers, recession, COVID-19, coronavirus, downward mobility, poverty, unemployment, wages, involuntary retirement, retirement, 401k, Medicare, Older Workers Bureau, racial disparities, disparities, inequality |
| JEL: | E24 J30 J38 J60 J88 J58 |
| Date: | 2021–06 |
| URL: | http://d.repec.org/n?u=RePEc:epa:cepapb:2021-03&r= |
| By: | ABATEMARCO, Antonio (Department of Economics and Statistics and CELPE, University of Salerno - Italy); RUSSOLILLO, Maria (Department of Economics and Statistics, University of Salerno and Bayes Business School - City (formerly CASS), University of London - UK) |
| Abstract: | We investigate the dynamics of the gender gap at retirement in Italy -- by cohort and year of retirement -- for individuals retiring from 1980 to 2027 using data from SHARELIFE (Wave 7). Most importantly, we disentangle the opposite effects on the gender gap originating respectively from (i) improving labor market conditions for women from the sixties, and (ii) increasing actuarial fairness of the pension plan due to the progressive transition from a defined-benefit to a notional defined-contribution scheme. To capture the impact of these two driving forces, we implement a counterfactual analysis by which the gender gap at retirement -- in terms of gender gap in pension (GGP) and between-group inequality (GE) -- is measured both in the actual and in the virtual distribution of pension benefits, with the latter being obtained under the hypothesis of an actuarially fair pension scheme. We observe a U-shaped pattern since the actual gender gap at retirement is found to be decreasing up to 2020 but increasing after this date. Specifically, the increasing pattern for the gender gap at retirement after 2020 is shown to be driven by (i) the loss of redistributive power of the pension scheme, and (ii) women's penalization in the pro-rata mechanism due to lower contributions paid in the early working life. |
| Keywords: | gender gap; pension; redistribution; actuarial fairness |
| JEL: | H55 J16 J26 |
| Date: | 2021–09–30 |
| URL: | http://d.repec.org/n?u=RePEc:sal:celpdp:0163&r= |
| By: | Teresa Ghilarducci; Aida Farmand; Bridget Fisher; Siavash Radpour (Schwartz Center for Economic Policy Analysis (SCEPA)) |
| Abstract: | A popular cash transfer program credited with lifting millions out of poverty, the Earned Income Tax Credit (EITC) also reduces wages for non-college educated workers, particularly older workers. Meanwhile, eligibility rules have long prevented most older workers from receiving EITC benefits at the same rate as their younger counterparts. Expanding EITC benefits permanently would offset some of these lost earnings and help stabilize older workers’ earnings. In 2021, Congress enacted a temporary EITC expansion—and our research shows that a permanently expanded EITC would benefit millions of older low-income workers. |
| Keywords: | Covid-19, Earned Income Tax Credit, EITC, low-income, Workers, Jobs, Unemployment, Risk, Older workers, retirement income, retirement, retirement savings |
| JEL: | E24 I14 J62 J38 E21 J83 J32 |
| Date: | 2021–10 |
| URL: | http://d.repec.org/n?u=RePEc:epa:cepapn:2021-02&r= |
| By: | Westermeier, Christian; Wolf, Mario |
| Abstract: | "Demographic change and recent policies demand more flexibility from employees and employers. Attractive employment arrangements for retirees can help keep qualified personnel in the workforce longer and mitigate the labour shortages in some industries. Using IAB Job Vacancy Survey data collected in 2015 and 2018, we investigate which firms show interest in keeping their workers in employment despite being eligible for an old-age pension in Germany." (Author's abstract, IAB-Doku) ((en)) |
| Keywords: | Bundesrepublik Deutschland ; Auswirkungen ; ältere Arbeitnehmer ; Altersteilzeit ; Mini-Job ; Personalpolitik ; Rentenalter ; IAB-Stellenerhebung ; Mitarbeiterbindung ; Teilrente ; Unternehmensgröße ; Weiterbeschäftigung ; 2015-2018 |
| Date: | 2020–09–03 |
| URL: | http://d.repec.org/n?u=RePEc:iab:iabkbe:202018&r= |
| By: | Ariane Sessego; Géraldine Duthé |
| Abstract: | In low- and middle-income countries (LMICs), the burden of non-communicable diseases is increasing due to the combination of population aging and lifestyle changes. While interest in multimorbidity has been rising to study more precisely the complex morbid processes that adults experience, health data in LMICs are scarce and rarely allow such investigations. Focusing on multimorbidity leading to death, we aim to develop an approach to estimate multiple causes of death using available data. In settings where certification of death by physicians is not available, verbal autopsies (VAs) have been developed to diagnose likely causes of death from information collected via a structured interview with final caregivers about the signs and symptoms leading up to death. With an increasing use of probabilistic models to interpret VAs, we investigate their potential for identifying multiple causes using a database of 72,330 adult deaths (15 and older) from 22 Health and Demographic Surveillance System (HDSS) sites located in Asia and Africa, and detailed VA data from the Ouagadougou HDSS in Burkina Faso (1,700 deaths). The Bayesian model InterVA-4 attributes multiple likely causes to 11% of deaths. However, some combinations result more from uncertain diagnosis than from multimorbidity. Elaborating an index of similarity between causes based on the InterVA’s probability matrix, we aim to differentiate competing causes (uncertainty) from co-occurring causes (multimorbidity). Selecting the most dissimilar associations of causes, we highlight the importance of associations between infectious and non-communicable diseases, as well as the burden of diabetes and cardiovascular diseases among the identified multimorbidity. |
| Keywords: | low- and middle-income countries (LMICs), multiple causes of death, multimorbidity, verbal autopsies (VAs), data quality, cause of death estimation methods, Health and Demographic Surveillance System (HDSS), Indepth data base, Asia, Africa, Burkina Faso, CAUSES MULTIPLES DE DECES / MULTIPLE CAUSES OF DEATH, ASIE / ASIA, AFRIQUE / AFRICA, PAYS EN DEVELOPPEMENT / DEVELOPING COUNTRIES, METHODE D'ESTIMATION INDIRECTE / INDIRECT ESTIMATION METHODS, SYSTEME DE SUIVI DEMOGRAPHIQUE / DEMOGRAPHIC SURVEILLANCE SYSTEM, MALADIE INFECTIEUSE / INFECTIOUS DISEASES, MORBIDITE / MORBIDITY, STATISTIQUES IMPARFAITES / DEFECTIVE DATA |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:idg:wpaper:axvy-7e2kgkzhr-bminy&r= |
| By: | Jones, Jordan W.; Marton, James; Courtemanche, Charles; Tchernis, Rusty; Denteh, Augustine |
| Keywords: | Food Consumption/Nutrition/Food Safety, Health Economics and Policy, Consumer/Household Economics |
| Date: | 2021–08 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea21:313925&r= |
| By: | Tatyana Deryugina; David Molitor |
| Abstract: | Life expectancy varies substantially across local regions within a country, raising conjectures that place of residence affects health. However, population sorting and other confounders make it difficult to disentangle the effects of place on health from other geographic differences in life expectancy. Recent studies have overcome such challenges to demonstrate that place of residence substantially influences health and mortality. Whether policies that encourage people to move to places that are better for their health or that improve areas that are detrimental to health are desirable depends on the mechanisms behind place effects, yet these mechanisms remain poorly understood. |
| JEL: | H75 I1 R1 |
| Date: | 2021–10 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29321&r= |