Aging, Social Security Design, and Capital Accumulation
Publication date: Available online 17 November 2016 Source:The Journal of the Economics of Ageing Author(s): Antoine Dedry, Harun Onder, Pierre Pestieau This paper analyzes the impact of demographic aging on capital accumulation and welfare in economies with unfunded pensions. By using a two-period overlapping generations model with potentially endogenous retirement decisions, it shows that both the type of aging, i.e. declining fertility or increasing longevity, and the type of pension system, i.e. defined contributions or defined benefits, are important in understanding this impact. Results show that when aging is d...
Source: The Journal of the Economics of Ageing - November 17, 2016 Category: Health Management Source Type: research

Do Notional Defined Contribution Schemes Prolong Working Life? Evidence from the 1994 Swedish Pension Reform
Publication date: Available online 17 November 2016 Source:The Journal of the Economics of Ageing Author(s): Haodong Qi, Jonas Helgertz, Tommy Bengtsson This paper investigates whether the Notional Defined Contribution (NDC) scheme prolongs working life. The evidence from the 1994 Swedish pension reform shows a gender and socio-economic gradient in the labor supply responses to phasing in NDC. While the reform exerted a large and significant positive effect on the average retirement age among highly educated and skilled, it had little or negative effect on those with low level of human capital. And the overall effect ...
Source: The Journal of the Economics of Ageing - November 16, 2016 Category: Health Management Source Type: research

The Money ’s Worth of annuities in the UK between 2006 and 2014
Publication date: Available online 26 October 2016 Source:The Journal of the Economics of Ageing Author(s): Matteo Aquilina, Robert Baker, Tommaso Majer Improvements in life expectancy and the fall in interest rates have had a significant impact on annuity rates but not on their Money’s Worth (MW). Following the ban of gender-based price discrimination, MW has decreased for male annuitants and increased for female annuitants. This paper investigates the ‘value’ of annuities in the United Kingdom (UK) and examines how this has changed from January 2006 to June 2014 ‘the relevant period’. During the relevant p...
Source: The Journal of the Economics of Ageing - October 28, 2016 Category: Health Management Source Type: research

Reporting error in weight and height among older adults: Implications for estimating healthcare costs
Publication date: Available online 14 October 2016 Source:The Journal of the Economics of Ageing Author(s): John Cawley, Johanna Catherine Maclean, Asia Sikora Kessler Previous research has identified obesity as a major contributor to healthcare costs among older adults. A limitation of this literature is its reliance on self-reported measures of weight and height, which may contain substantial error that can lead to bias in estimates of obesity prevalence and coefficients in healthcare utilization regressions. This paper estimates the extent of reporting error in weight and height among older adults, and examines its...
Source: The Journal of the Economics of Ageing - October 14, 2016 Category: Health Management Source Type: research

Decomposing economic gains from population age structure transition in the Philippines
Publication date: Available online 29 September 2016 Source:The Journal of the Economics of Ageing Author(s): Michael R.M. Abrigo, Rachel H. Racelis, J.M. Ian Salas, Alejandro N. Herrin The secular decline in fertility throughout the world has provided countries with demographic dividends from population age structures that are increasingly concentrated towards productive ages. However, it is widely recognized that realizing the demographic dividend is policy dependent. In this paper, we document how economic conditions are able to either negate or amplify the gains from demographic dividends by looking at the case o...
Source: The Journal of the Economics of Ageing - September 29, 2016 Category: Health Management Source Type: research