scholarly journals Towards an equitable and sustainable points system. A proposal for pension reform in Belgium

2018 ◽  
Vol 19 (1) ◽  
pp. 49-79 ◽  
Author(s):  
ERIK SCHOKKAERT ◽  
PIERRE DEVOLDER ◽  
JEAN HINDRIKS ◽  
FRANK VANDENBROUCKE
Keyword(s):  
Pension Reform ◽  
Living Standard ◽  
Economic Shocks ◽  
Automatic Adjustment ◽  
Adjustment Mechanism ◽  
System A ◽  
Career Length ◽  
Balanced Distribution ◽  
Intragenerational Equity

AbstractWe describe the points system as proposed by the Belgian Commission for Pension Reform 2020–2040. Intragenerational equity can be realised through the allocation of points within a cohort. The intergenerational distribution is determined by fixing the value of a point for the newly retired and a sustainability parameter for the actual retirees. The value of the point links pensions to the average living standard of the employed population. We propose an automatic adjustment mechanism, in which a key role is played by the career length. This mechanism induces a balanced distribution of the burden of demographic and economic shocks over the different cohorts.

scholarly journals MONETARY DISCRETION BY FISCAL MEANS: THE CASE OF BULGARIA

2019 ◽  
Vol 7 ◽  
Author(s):  
Preslav Dimitrov ◽  
Ivan Todorov ◽  
Stoyan Tanchev ◽  
Petar Yurukov
Keyword(s):  
Interest Rates ◽  
Balance Sheet ◽  
Liquidity Effect ◽  
Currency Board ◽  
Automatic Adjustment ◽  
Adjustment Mechanism ◽  
Study Results ◽  
National Bank ◽  
The Impact ◽  
Reserve Ratio

The specific design of the Bulgarian currency board arrangement (CBA), which provides an opportunity for the Bulgarian government to conduct discretionary monetary policy by changes in the fiscal reserve, was analyzed. The impact of government deposit fluctuations on the dynamics of reserve money and interbank interest rates was investigated. The hypotheses of an automatic adjustment mechanism and a liquidity effect under the Bulgarian currency board arrangement were tested. The methodology employed was a vector autoregression, which included the following variables: MB – monetary base; BP – the balance of payments; GD – government deposit on the balance sheet of the Issue Department of the Bulgarian National Bank; MRR – minimum required reserve ratio of commercial banks. The target variable was MB. Monthly data for the period of January 1998 - December 2018 were used. The study results did not provide evidence of a statistically significant impact of changes in government deposit on reserve money and interbank interest rates. The hypotheses for the existence of an automatic adjustment mechanism and a liquidity effect did not find an empirical confirmation.

Chile pension reform will not address grievances

2018 ◽  
Keyword(s):  
Pension System ◽  
Pension Reform ◽  
Public Spending ◽  
Fine Tuning ◽  
Living Standard ◽  
The Political ◽  
Retirement Age ◽  
Content Type ◽  
The One ◽  
Chilean Population

Subject Pension reform plans. Significance A pension reform, announced by President Sebastian Pinera on October 28, treads a cautious path between the conflicting pressures of public anger with low pensions and the lack of legitimacy of Chile’s private pension system, on the one hand, and the political difficulty of increasing the retirement age and constraints on public spending, on the other. Impacts With the Chilean population ageing rapidly, pensions will become an ever more important election issue. The left argues that the proposed reform will represent only a fine-tuning of the structurally flawed AFP system. Despite the proposed measures, retirement would still mean a significantly lower living standard for much of the middle class.

scholarly journals Carbon Border Adjustment Mechanism: New Context for EU-Russia Relations

2021 ◽  
Vol 106 (6) ◽  
pp. 63-74
Author(s):  
Anastasia Nevskaya ◽  
◽  
Yulia Baronina ◽  
Keyword(s):  
Emissions Trading ◽  
Compensatory Mechanism ◽  
Trading System ◽  
Adjustment Mechanism ◽  
System A ◽  
Theoretical Approaches ◽  
Trading Partners ◽  
Regional Emissions ◽  
The Eu ◽  
Border Adjustment

The article examines the introduction of the EU carbon border adjustment mechanism (CBAM) as part of the EU economy decarbonization. The implementation of this initiative poses certain risks for the EU trading partners. Moreover, this issue is extremely important for the entire global trading system. The purpose of the study is to assess the real threats of the mechanism for Russian companies and identify opportunities for successful adaptation to the new green realities. The theoretical approaches and prerequisites for the CBAM introduction are analyzed, its systemic effects for companies around the world are shown. The channels and possible scale of this measure’s impact on Russian exporters are considered. The authors analyze the main possible response scenarios for Russia. The most promising scenarios could be: a) intensification of the carbon-free energy and increasing the energy efficiency of production processes, 2) development of an alternative compensatory mechanism, 3) integration into the regional emissions trading system. A possible challenge of the CBAM introduction in the WTO may be ineffective; cooperation with countries outside the “green agenda” – counterproductive. It is concluded that there are opportunities for Russian companies to strengthen their competitiveness due to CBAM requirements. However, there is a lack of expertise in a number of areas and levels, which can hinder the implementation of these opportunities.

scholarly journals Towards an Equitable and Sustainable Points System: A Proposal for Pension Reform in Belgium

2017 ◽  
Author(s):  
Erik Schokkaert ◽  
Pierre Devolder ◽  
Jean Hindriks ◽  
Frank Vandenbroucke
Keyword(s):  
Pension Reform ◽  
System A

scholarly journals The Analysis of Automatic Adjustment Mechanism of Balance of Payments-Evidence from Manufactured Goods Exporters

2021 ◽  
Vol 2 (2) ◽  
pp. 51-59
Author(s):  
Jia-Hua Yang ◽  
Grant G. L. Yang
Keyword(s):  
Foreign Direct Investment ◽  
Interest Rates ◽  
Direct Investment ◽  
Developing Economies ◽  
Consumer Price Index ◽  
Balance Of Payments ◽  
Automatic Adjustment ◽  
Adjustment Mechanism ◽  
Causality Tests ◽  
Manufactured Goods

The balance of payments is the most scientific and complete record of international economic exchanges and transaction flows, and will be affected by interest rates, exchange rates, trade, finance, foreign exchange management and foreign investment. Studies related to balance of payment dominate in those increasingly open and developing economies, particularly for the manufactured goods exporters where manufacturing is the backbone, driver and display of modernization. This paper explores time trend analysis to analyze the automatic adjustment mechanism of balance of payments for manufactured goods exporters based on data from United Nations Conference on Trade and Development. The stability, cointegration, and causality tests are performed followed by multiple regression analysis that corporates one-period lagged and log-formed models. The results are found to be consistent with theoretical analysis except for foreign direct investment. Granger causality tests demonstrate consumer price index and export are the causes of foreign direct investment, which might distort the explanation of foreign direct investment to balance of payment for manufactured goods exporters.

New Design for a Differentially Pumped Hydration Chamber for a Siemens IA

1971 ◽  
Vol 29 ◽  
pp. 44-45
Author(s):  
R. C. Moretz ◽  
G. G. Hausner ◽  
D. F. Parsons
Keyword(s):  
Electron Microscopy ◽  
Water Vapor ◽  
Electron Diffraction ◽  
Water Vapor Pressure ◽  
Biological Materials ◽  
Thin Membrane ◽  
Reliable System ◽  
System A ◽  
Water Films ◽  
Aperture Opening

Electron microscopy and diffraction of biological materials in the hydrated state requires the construction of a chamber in which the water vapor pressure can be maintained at saturation for a given specimen temperature, while minimally affecting the normal vacuum of the remainder of the microscope column. Initial studies with chambers closed by thin membrane windows showed that at the film thicknesses required for electron diffraction at 100 KV the window failure rate was too high to give a reliable system. A single stage, differentially pumped specimen hydration chamber was constructed, consisting of two apertures (70-100μ), which eliminated the necessity of thin membrane windows. This system was used to obtain electron diffraction and electron microscopy of water droplets and thin water films. However, a period of dehydration occurred during initial pumping of the microscope column. Although rehydration occurred within five minutes, biological materials were irreversibly damaged. Another limitation of this system was that the specimen grid was clamped between the apertures, thus limiting the yield of view to the aperture opening.

Sign in / Sign up

Export Citation Format

Share Document