scholarly journals Funded Pension Schemes in Aging Societies: A Pure Economic Argument?

2021 ◽  
Author(s):  
Ishay Wolf ◽  
Smadar Levi
Keyword(s):  
Pension System ◽  
Future Generations ◽  
Generation Model ◽  
Overlapping Generation ◽  
The World Bank ◽  
Pension Schemes ◽  
Western Market ◽  
Per Capita ◽  
Future Utility ◽  
Aging Societies

This study enables different angel to explore central planners’ considerations regarding pension systems in a modern western market with aging influence. In particular, considerable weight has been given to the effect of the crisis due to the pandemic and frequent market turmoil. This study expands the number of players analyzed in the field and takes into consideration different interests among the current and future generations. In addition, we allow differentiation among earning cohorts. By using the overlapping generation model and Monte Carlo simulations, we find that in a wide macroeconomic range, pension equilibrium surprisingly stands with unfunded pension schemes despite the heavy aging influence. Contrary to the classic economic arguments by the World Bank and IMF that were widespread during the 1980s and 1990s, the choice of a pension system is much more complex. We find that the central planner must take into account not only the aging rhythm and market yield but also other parameters, such as the current and future utility perspective, the government’s debt price, GDP per capita growth rate, risk aversion, and the possibility of market turmoil.

scholarly journals Factors Affecting the Development of Voluntary Pension Schemes in CEE Countries: A Panel Data Analysis

2018 ◽  
Vol 3 (50) ◽  
pp. 26-40
Author(s):  
Edyta Marcinkiewicz
Keyword(s):  
Fixed Effects ◽  
Pension System ◽  
Panel Data Analysis ◽  
Pension Plan ◽  
Quantitative Information ◽  
Poverty Rate ◽  
Pension Plans ◽  
Factors Affecting ◽  
Pension Schemes ◽  
Per Capita

Abstract The study provides some quantitative information on voluntary pension plans in 10 CEE countries obtained from various local sources. The comparative analysis shows that there is a considerable variation in this group in terms of participation and contributions to the voluntary pension plans. In addition, this study empirically examines several factors that can possibly affect the development of voluntary pensions: income per capita and poverty rate, income inequality, replacement rate from the pension system, education attainment, interest rate and demographic burden. It uses a panel regression framework for the period of 2006–2014. The results reveal that, in the case of participation in voluntary pension plans, only income level per capita is associated with a greater number of pension plan members. As far as contributions are concerned, education seems to be the most important determinant of additional pension savings. Other factors do not seem to explain well both of the studied variables reflecting the development of voluntary pension schemes. However, as individual fixed effects are proven to be significant in the estimated models, one could conclude that country-specific characteristics play a significant role in explaining the development of voluntary pension schemes. They can be referred to the design and parametric settings of the non-mandatory pension system.

scholarly journals Taxation of Land and Economic Growth

Economies ◽  
2021 ◽  
Vol 9 (2) ◽  
pp. 61
Author(s):  
Shulu Che ◽  
Ronald Ravinesh Kumar ◽  
Peter J. Stauvermann
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Generation Model ◽  
Young Generation ◽  
Overlapping Generation ◽  
Land Rents ◽  
Stamp Duty

In this paper, we theoretically analyze the effects of three types of land taxes on economic growth using an overlapping generation model in which land can be used for production or consumption (housing) purposes. Based on the analyses in which land is used as a factor of production, we can confirm that the taxation of land will lead to an increase in the growth rate of the economy. Particularly, we show that the introduction of a tax on land rents, a tax on the value of land or a stamp duty will cause the net price of land to decline. Further, we show that the nationalization of land and the redistribution of the land rents to the young generation will maximize the growth rate of the economy.

A Comparative Analysis of South Africa as a Semi-Industrialised Developing Country

1988 ◽  
Vol 26 (3) ◽  
pp. 473-493 ◽  
Author(s):  
J. B. Knight
Keyword(s):  
South Africa ◽  
Developing Economies ◽  
Developed Countries ◽  
Sub Saharan Africa ◽  
Middle Income ◽  
The World Bank ◽  
The World ◽  
Per Capita ◽  
Sub Saharan ◽  
Industrialised Countries

South Africa has neither a developed nor a typical underdeveloped economy. Too often it has been wrongly classified, along with, say, Australia and New Zealand, as one of the peripheral developed countries, because only a part of the economy and population have the characteristics we associate with that group. Yet its economy is distinctly different from others in sub-Saharan Africa. South Africa falls squarely into the category which the World Bank classifies as ‘upper middle-income’ developing economies, with G.N.P. per capita in 1982 ranging from $2,000 to $7,000 and averaging $2,500, thereby including South Africa, with $2,700.1 (By contrast, Kenya's G.N.P. per capita was $400 and Britain's $10,000). The World Bank's group includes Algeria, Argentina, Brazil, Chile, Mexico, South Korea, Venezuela, and Yugoslavia. South Africa shares many structural economic characteristics with these semi-industrialised countries.

Plant-Based Proteins: The Good, Bad, and Ugly

2022 ◽  
Vol 13 (1) ◽  
Author(s):  
William R. Aimutis
Keyword(s):  
Agricultural Production ◽  
Future Generations ◽  
Annual Review ◽  
Food Science ◽  
Publication Date ◽  
The Past ◽  
Per Capita ◽  
Consumption Enjoyment ◽  
Global Population ◽  
Made In

Our global population is growing at a pace to exceed 10 billion people by the year 2050. This growth will place pressure on the agricultural production of food to feed the hungry masses. One category that will be strained is protein. Per capita protein consumption is rising in virtually every country for both nutritional reasons and consumption enjoyment. The United Nations estimates protein demand will double by 2050, and this will result in a critical overall protein shortage if drastic changes are not made in the years preceding these changes. Therefore, the world is in the midst of identifying technological breakthroughs to make protein more readily available and sustainable for future generations. One protein sourcing category that has grown in the past decade is plant-based proteins, which seem to fit criteria established by discerning consumers, including healthy, sustainable, ethical, and relatively inexpensive. Although demand for plant-based protein continues to increase, these proteins are challenging to utilize in novel food formulations. Expected final online publication date for the Annual Review of Food Science and Technology, Volume 13 is March 2022. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.

scholarly journals Do Democratic Economies Grow Faster? The Case of Asia vs. the EU

2018 ◽  
Vol 14 (2) ◽  
pp. 115
Author(s):  
Samuel D. Barrows
Keyword(s):  
World Bank ◽  
Capita Income ◽  
Time Frame ◽  
Per Capita Income ◽  
The World Bank ◽  
The World ◽  
Per Capita ◽  
Economic Growth Rates ◽  
The Impact ◽  
The Eu

The dynamics of the five fastest growing GDP per capita economies in Asia and the EU are studied between 2010 and 2014. This time frame was selected in order to avoid the height of the 2008-2009 financial crisis, but to include the stimulus and recovery periods which occurred afterward. The intent was not to compare the recoveries or the impact of the stimulus programs. The intent was to compare the economic growth rates of the two groups and also the absolute per capita income along with five topic areas on economies including: configuration, utilization, investments, demographics, and outcomes. A total of twenty measurements are used for assessment from the World Bank databank website. The findings are that the Asian economies grew faster while the EU economies had a higher per capita income. The workforces of the Asia economies are also younger and more flexible whereas the workforces of the EU economies are older, but more educated. Discussions include the links between effective governments and economic development and the links between democracy and economic levels.

scholarly journals The influence of health expenditures on household impoverishment in Brazil

2014 ◽  
Vol 48 (5) ◽  
pp. 797-807 ◽  
Author(s):  
Alexandra Crispim Boing ◽  
Andréa Dâmaso Bertoldi ◽  
Leila Garcia Posenato ◽  
Karen Glazer Peres
Keyword(s):  
World Bank ◽  
Health Expenditures ◽  
Poverty Line ◽  
Financial Situation ◽  
Factors Associated ◽  
The World Bank ◽  
Percentage Points ◽  
The World ◽  
Bolsa Familia ◽  
Per Capita

OBJECTIVE To analyze the variation in the proportion of households living below the poverty line in Brazil and the factors associated with their impoverishment. METHODS Income and expenditure data from the Household Budget Survey, which was conducted in Brazil between 2002-2003 (n = 48,470 households) and 2008-2009 (n = 55,970 households) with a national sample, were analyzed. Two cutoff points were used to define poverty. The first cutoff is a per capita monthly income below R$100.00 in 2002-2003 and R$140.00 in 2008-2009, as recommended by the Bolsa Família Program. The second, which is proposed by the World Bank and is adjusted for purchasing power parity, defines poverty as per capita income below US$2.34 and US$3.54 per day in 2002-2003 and 2008-2009, respectively. Logistic regression was used to identify the sociodemographic factors associated with the impoverishment of households. RESULTS After subtracting health expenditures, there was an increase in households living below the poverty line in Brazil. Using the World Bank poverty line, the increase in 2002-2003 and 2008-2009 was 2.6 percentage points (6.8%) and 2.3 percentage points (11.6%), respectively. Using the Bolsa Família Program poverty line, the increase was 1.6 (11.9%) and 1.3 (17.3%) percentage points, respectively. Expenditure on prescription drugs primarily contributed to the increase in poor households. According to the World Bank poverty line, the factors associated with impoverishment include a worse-off financial situation, a household headed by an individual with low education, the presence of children, and the absence of older adults. Using the Bolsa Família Program poverty line, the factors associated with impoverishment include a worse-off financial situation and the presence of children. CONCLUSIONS Health expenditures play an important role in the impoverishment of segments of the Brazilian population, especially among the most disadvantaged.

scholarly journals Australia: a land of missed opportunities?

2017 ◽  
Vol 22 (6) ◽  
pp. 674-698 ◽  
Author(s):  
David Greasley ◽  
Eoin McLaughlin ◽  
Nick Hanley ◽  
Les Oxley
Keyword(s):  
Human Capital ◽  
Technological Progress ◽  
Natural Capital ◽  
Oecd Countries ◽  
Future Generations ◽  
Missed Opportunities ◽  
Future Consumption ◽  
Per Capita ◽  
Per Capita Consumption ◽  
Over Time

AbstractComprehensive Investment (CI) may provide an indicator of future changes in a country's per capita consumption. The authors explore the utility of the CI indicator for Australia by constructing CI data since 1861 and by estimating their relationship with changes in future consumption over periods of 50 years ahead. The CI measures include changes in natural, produced and human capital, and make allowance for exogenous technological progress. The results are used to consider how Australia's natural capital exploitation influenced the consumption of future generations. Further, the authors gauge if low CI relative to other leading OECD countries resulted in lower consumption levels in Australia over time than feasible, had it saved more.

scholarly journals Religiosity and human capital formation in the overlapping generation model in Indonesia

2021 ◽  
Vol 5 (01) ◽  
pp. 49-60
Author(s):  
Aris Soelistyo
Keyword(s):  
Human Capital ◽  
Gross Domestic Product ◽  
Government Spending ◽  
Capital Stock ◽  
Capital Formation ◽  
Generation Model ◽  
Mathematical Approach ◽  
Human Capital Formation ◽  
Overlapping Generation ◽  
Positive Effect

This research aims to determine the extent of the part of spiritual empowerment and the construction of human capital in the overlapping generation model in Indonesia. The study constructs a model by mathematical approach, which ensures the equilibrium of the entire market; use data of the Indonesian region in the 1983-2019 period and the analyzed by regression. Government spending in the fiscal and monetary sector effectively increases the Gross Domestic Product; the influence of labor positively affects the use of capital stock, where the current capital stock is influenced by the stock capital of the previous year. The aspect of government spending has a positive effect on capital stock.

scholarly journals THE EVALUATION OF THE II PILLAR PENSION’S FUNDS: AN INTEGRATED APPROACH USING MULTI-CRITERIA DECISION METHODS

2017 ◽  
Vol 18 (0) ◽  
pp. 109-127
Author(s):  
Lina Novickytė ◽  
Viktorija Rabikauskaitė
Keyword(s):  
Pension System ◽  
Evaluation Model ◽  
Holistic Approach ◽  
Integrated Approach ◽  
Added Value ◽  
Risk Indicators ◽  
Mathematical Methods ◽  
The World Bank ◽  
Decision Methods ◽  
The World

Lithuania has had a significant reform path in the last twenty-five years like other communist bloc countries during the intense changes in the world. Changes and transformations took place in various areas including social security system. Since 2004 have been significant developments legalizing the three-pillar old age pension system supported by the World Bank. Currently, the pension funds operating more than ten years and their assessment still have not stopped being the centre of numerous discussions. There are ongoing discussions about the fund performances’ benefit, efficiency and its evaluation. Therefore, this paper investigates the funds’ valuation problem by testing II pillar pension’s funds in Lithuania. We use the multi-criteria methods with two scenarios: first we estimate II pillar pension’s funds by applying a return (as well as the added value) and the risk indicators; second we include only the most popular derivative indicators: Sharpe, Treynor and Jensen’s alpha ratios. Our results indicate that based on the second scenario methodology is more precise evaluated II pillar pensions funds’ performance, but funds evaluation model based on multi-criteria assessment is more appropriate for larger funds groups. However, in order to assess the performance of the funds and compare them with each other it is important not only use the mathematical methods but also to maintain a holistic approach which allows to integrate micro and macro environmental factors into the funds’ assessment.

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