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1
HEISIG, JAN PAUL, BRAM LANCEE, and JONAS RADL. "Ethnic inequality in retirement income: a comparative analysis of immigrant–native gaps in Western Europe." Ageing and Society 38, no. 10 (May 4, 2017): 1963–94. http://dx.doi.org/10.1017/s0144686x17000332.
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ABSTRACTPrevious research unequivocally shows that immigrants are less successful in the labour market than the native-born population. However, little is known about whether ethnic inequality persists after retirement. We use data on 16 Western European countries from the European Union Statistics on Income and Living Conditions (EU-SILC, 2004–2013) to provide the first comparative study of ethnic inequalities among the population aged 65 and older. We focus on the retirement income gap (RIG) between immigrants from non-European Union countries and relate its magnitude to country differences in welfare state arrangements. Ethnic inequality after retirement is substantial: after adjusting for key characteristics including age, education and occupational status, the average immigrant penalty across the 16 countries is 28 per cent for men and 29 per cent for women. Country-level regressions show that income gaps are smaller in countries where the pension system is more redistributive. We also find that easy access to long-term residence is associated with larger RIGs, at least for men. There is no clear evidence that immigrants’ access to social security programmes, welfare state transfers to working-age households or the strictness of employment protection legislation affect the size of the RIG.
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Kourouklis, Dimitrios, Georgia Verropoulou, and Cleon Tsimbos. "The impact of wealth and income on the depression of older adults across European welfare regimes." Ageing and Society 40, no. 11 (June 20, 2019): 2448–79. http://dx.doi.org/10.1017/s0144686x19000679.
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AbstractThis paper examines the impact of wealth and income on the likelihood of depression among persons aged 50 or higher in four European regions characterised by differences in the standards of living and welfare systems. To address possible effects, data from Wave 6 of the Survey of Health, Ageing and Retirement in Europe (SHARE) have been used. Based on a sample of 60,864 persons resident in 16 European countries and a binary indicator of depression, probit and instrumental variable probit models were employed, the latter of which deal with issues of endogeneity and omitted variable bias. The findings show differences in the prevalence of depression across Europe, favouring the more affluent North/Western countries. Further, there is a difference in the role and the magnitude of the effect of income and wealth across different regions. First, though both measures exhibit a measurable effect, their impact is greater in the poorer Central/Eastern and Southern regions; this divide is more pronounced for wealth. Second, income seems to have a stronger effect compared to wealth in all instances: hence, it would seem that liquidity is more important among Europeans aged 50 or higher than assets. Nevertheless, neither income nor wealth are important among persons aged 65 or higher in Nordic countries which may be partly attributable to a more equitable welfare system.
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Gough, Orla, and Roberta Adami. "Welfare Systems and Adequacy of Pension Benefits in Europe." Social Policy and Society 11, no. 1 (December 6, 2011): 41–53. http://dx.doi.org/10.1017/s147474641100039x.
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During the post-war years many European countries have implemented far-reaching but diverse pension systems with the objective of providing those in retirement with adequate incomes. In this study, we explore the link between pension systems and the adequacy of retirement income. We analyse the mix of public and private pensions and consider the impact of different policies on poverty rates amongst pensioners. We suggest that only a few European countries have been successful in providing combinations of private and public pensions that improve the adequacy of retirement income.
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Hershey, Douglas A., Kène Henkens, and Hendrik P. van Dalen. "What drives retirement income worries in Europe? A multilevel analysis." European Journal of Ageing 7, no. 4 (October 22, 2010): 301–11. http://dx.doi.org/10.1007/s10433-010-0167-z.
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OLIVERA, JAVIER, and VALENTINA PONOMARENKO. "Pension Insecurity and Wellbeing in Europe." Journal of Social Policy 46, no. 3 (November 17, 2016): 517–42. http://dx.doi.org/10.1017/s0047279416000787.
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AbstractThis paper studies pension insecurity in a sample of non-retired individuals aged 50 years or older from 18 European countries. We capture pension insecurity with the subjective expectations on the probability that the government will reduce the pensions of the individual before retirement or will increase the statutory retirement age. We argue that changes in economic conditions and policy affect the formation of such probabilities, and through this, subjective wellbeing. In particular, we study the effects of pension insecurity on subjective wellbeing with pooled linear models, regressions per quintiles and instrumental variables. We find a statistically significant, stable and negative association between pension insecurity and subjective wellbeing. Our findings reveal that the individuals who are more affected by pension insecurity are those who are further away from their retirement, have lower income, assess their life survival as low, have higher cognitive abilities and do not expect private pension payments.
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MÖHRING, KATJA. "Is there a motherhood penalty in retirement income in Europe? The role of lifecourse and institutional characteristics." Ageing and Society 38, no. 12 (August 22, 2017): 2560–89. http://dx.doi.org/10.1017/s0144686x17000812.
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ABSTRACTThis study examines the retirement income of women in Europe, focusing on the effect of motherhood. Due to their more interrupted working careers compared to non-mothers and fathers, mothers are likely to accumulate fewer pension entitlements, and consequently, to receive lower incomes in later life. However, pension systems in Europe vary widely in the degree to which they compensate for care-related career interruptions by means of redistributive elements or pension care entitlements. Therefore, care interruptions may matter for the retirement income of women in some countries, but may be rather irrelevant in others. On the basis of life history data from the Survey of Health, Ageing and Retirement in Europe (SHARELIFE) for women aged between 60 and 75 years in 13 European countries, the interplay of individual lifecourse characteristics with institutional and structural factors is examined. The results show that the lower retirement income of mothers is mainly a result of fewer years in employment and lower-status jobs throughout the lifecourse. The analysis of institutional factors reveals that pension care entitlements are not able to provide a compensation for care-related cutbacks in working life. A generally redistributive design of the pension system including basic or targeted pension schemes, in contrast, appears as an effective measure to balance differences in employment participation over the lifecourse.
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Dingemans, Ellen, and Kène Henkens. "Working After Retirement and Life Satisfaction: Cross-National Comparative Research in Europe." Research on Aging 41, no. 7 (February 19, 2019): 648–69. http://dx.doi.org/10.1177/0164027519830610.
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This study examines differences in life satisfaction between full retirees and working retirees in Europe. We hypothesize that these differences depend on the financial resources of retirees and the resources available in the household and country context. We selected retirees from the “Survey of Health, Ageing and Retirement in Europe” project and estimated country fixed effects models to explain their life satisfaction. The results indicate a positive relationship between working after retirement and life satisfaction for retirees with low pension income without a partner. Additionally, working after retirement seems to be most important for life satisfaction in relatively poor countries.
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Hofäcker, Dirk, and Marge Unt. "Exploring the ‘new worlds’ of (late?) retirement in Europe." Journal of International and Comparative Social Policy 29, no. 2 (June 2013): 163–83. http://dx.doi.org/10.1080/21699763.2013.836979.
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After a long period of promoting early retirement, European societies have recently started to implement various reforms aimed at fostering a longer working life. Yet cross-national variations in older workers' employment remain, as institutional path dependency, socio-economic climate and persistent retirement culture have not allowed all countries to implement reforms to the same degree. In our paper, we provide an up-to-date international overview of country-specific contexts that support or hinder the employment of older workers in European countries. To this end, we use information on labour market, pension, and welfare policies that affect older workers' employment opportunities and retirement decisions. Adding to previous research, we contrast these “structural” indicators with selected “cultural” evidence from the European Survey data (Eurobarometer, European Social Survey) reflecting recent trends in retirement-related attitudes, perceptions and preferences. The available data allow for an unusually broad geographical scope, encompassing both Western European and Eastern European societies. Using these data, we perform a hierarchical cluster analysis to identify the specific types of “retirement regimes”. Finally, we relate these “new worlds of retirement” to the differentiation of “early” versus “late” exit regimes suggested by earlier literature to identify the forerunners and laggards in the gradual transition towards later retirement in Europe.
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Garcia, Maria Teresa Medeiros. "Individual Retirement Accounts in Portugal." Mediterranean Journal of Social Sciences 11, no. 1 (January 10, 2020): 97. http://dx.doi.org/10.36941/mjss-2020-0010.
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In Portugal, Individual Retirement Accounts (IRAs) were created with significant tax incentives in 1989. To inform the debate with research findings, the purpose of this paper is to analyze the determinants of IRAs’ participation, both for retired and no-retired persons. The paper uses ASF (Portuguese Insurance and Pension Funds Supervisory Authority) Statistics and European Survey of Health, Ageing and Retirement in Europe (Share) database, Wave 4, and a probit model. The results show that the variables that have a positive and significant impact on the ownership of IRAs are age, years of education, income, and house ownership.
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Tselios, Vassilis, Andrés Rodríguez-Pose, Andy Pike, John Tomaney, and Gianpiero Torrisi. "Income Inequality, Decentralisation, and Regional Development in Western Europe." Environment and Planning A: Economy and Space 44, no. 6 (January 2012): 1278–301. http://dx.doi.org/10.1068/a44334.
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Poškutė, Virginija, Tadas Gudaitis, Teodoras Medaiskis, and Jaroslav Mečkovski. "SEARCH FOR SUSTAINABLE PENSION SYSTEM AND STATE SUPPORT FOR FUNDED PENSIONS IN CEE COUNTRIES." Business: Theory and Practice 23, no. 2 (September 7, 2022): 313–22. http://dx.doi.org/10.3846/btp.2022.16250.
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Pension systems around Europe are being reformed for several decades already. Main objectives of the reforms are to enable people to have adequate income at retirement and to ensure the system’s financial sustainability. Many European countries implemented policies aiming at diversification of financing sources of income at older age: risk-sharing between pay-as-you-go and funded pensions is expected to help in achieving social policy objectives towards pension systems. Central and Eastern European countries (CEE) face even more challenges in ensuring adequate income at retirement. First, CEE countries were required to transform radically their economies in 1990s towards market economy, including old age pension systems. Second, in order to ensure diversified future old age pension income and attract more financial means to the system, introduction of funded pensions from scratch and ensuring as wide as possible coverage with funded pension schemes was of primary importance also. The paper discusses latest developments of retirement pension systems in Europe and state involvement in private pension schemes. In doing so, the focus is on the introduction of funded private pension schemes in selected CEE countries. In spite of initially chosen different paths for the reforms, inconsistent state policies towards funded pensions in the CEE countries resulted in similar outcomes of the reforms. The paper starts with discussion on main objectives of pension systems – enabling people to have adequate income at retirement and ensuring financial sustainability of the systems. Further, possibilities to achieve the objectives of pension reforms are analysed – diversification of income at retirement. Third part of the paper discusses prevailing debates on future of welfare state as such and individualisation trends within different European welfare state models. These debates and perceptions of population about responsibilities of a state for individual welfare affect direction of reforms and future shape of old age pension systems. Fourth part of the paper deals with state policies and tools that are used for encouragement of participation in supplementary pensions. Final part of the paper presents more detailed outline of the pension reforms in selected CEE countries and summarises particular challenges of their pension systems. The paper ends with a discussion on policy implications in relation to latest developments of pension systems in CEE countries.
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JOUSTEN, ALAIN, and MATHIEU LEFEBVRE. "Spousal and survivor benefits in option value models of retirement: an application to Belgium." Journal of Pension Economics and Finance 18, no. 1 (August 30, 2017): 66–87. http://dx.doi.org/10.1017/s1474747217000324.
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AbstractWe study retirement incentives with an augmented reduced form option value model à la Stock and Wise (1990). We propose methodological extensions to better reflect the respective incentives faced by singles and couples. Our results show that a more comprehensive modeling of couples’ incentives leads to very different patterns of retirement incentives – particularly for women. We apply the new indicators to data from the Survey of Health, Ageing and retirement in Europe in Belgium and find two key results. First, contrary to several previous studies, we obtain a positive signed income effects. Second, we find very different retirement incentives for men and women, with little flexibility in the retirement decision for men and substantially more flexibility for women as a function of financial incentive and household composition.
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Iliev, Ilia. "Retirement Is a Foreign Country: Work beyond Retirement and Elder Care in Socialist Bulgaria." Genealogy 6, no. 3 (July 17, 2022): 65. http://dx.doi.org/10.3390/genealogy6030065.
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In this article, I investigate state policies in socialist rule in Bulgaria, encouraging pensioners to work beyond retirement and their impact on eldercare. First, I argue that in the 1970s, Bulgarian pensioners began occupying economic niches similar to those of labor migrants in Western Europe. The policies actively promoting work after retirement were introduced in parallel with legislation encouraging older people to distribute their property among potential heirs as a donation instead of their last will. I argue that this combination of work beyond retirement and inheritance patterns had a negative impact on eldercare and should be taken into consideration when designing new policies addressed at working pensioners. The research is based on letters of complaint or denunciation from the 1970s, available in the Bulgarian State Archives.
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Norris, Michelle, and Nessa Winston. "Home-ownership, housing regimes and income inequalities in Western Europe." International Journal of Social Welfare 21, no. 2 (June 13, 2011): 127–38. http://dx.doi.org/10.1111/j.1468-2397.2011.00811.x.
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Axelrad, Hila, and Aviad Tur-Sinai. "Switching to Self-Employed When Heading for Retirement." Journal of Applied Gerontology 40, no. 1 (December 18, 2019): 95–104. http://dx.doi.org/10.1177/0733464819894542.
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Self-employment allows individuals to extend their working lives instead of accepting forced retirement. This study examines transitions to self-employment after age 50 but before retirement age. The study is based on data from Survey of Health, Ageing and Retirement in Europe (SHARE), in which 16,412 people from 18 countries contributed 24,583 observations. Multilevel analyses were used; the data were pooled into one dataset, in which individuals (first-level variables) were nested within countries (second-level variables). The results reveal that few employees choose to switch to self-employment between age 50 and retirement. Characteristics such as health limitations, marital status, and national unemployment rates affect these employees’ decisions to become self-employed. Given the wage gaps between salaried employees and self-employed and the few employment opportunities available to salaried employees after they reach the official retirement age, the transition to self-employment is a solution for those who need sources of income or wish to remain active after retirement age.
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McCarthy, Linda. "European Economic Integration and Urban Inequalities in Western Europe." Environment and Planning A: Economy and Space 32, no. 3 (March 2000): 391–410. http://dx.doi.org/10.1068/a3189.
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Recent processes of European integration have influenced profoundly the fortunes of cities across Western Europe. Although some cities have benefited, others have been impacted adversely. Income inequalities result from economic growth differentials occurring between different cities over time. The theoretical literature differs on whether increased integration promotes or reduces income disparities. The European Union (EU) assumes that rising inequalities will impair EU growth and lead to even greater disparities. Empirical analysis has concentrated on the EU-defined regions because of problems of urban data availability and comparability. Using regional data, I identified that the overall level of inequalities changed little for the metropolitan regions between the early 1980s and the early 1990s. Urban disparities were cyclical—decreasing during strong EU growth and increasing in slower growth years. Factors outside direct local government control, including relative location within Europe, reinforced the traditional strong-core—weak-periphery spatial pattern of development. I argue that additional factors specific to cities, such as limited EU urban policy and funding, contributed to overall higher and more sharply rising inequalities since the late 1980s for cities compared with regions. The positive linear relationship between levels of national income and urban disparities has implications for economic polarization within richer member states and for EU efforts to reduce inequalities by raising the level of development in poorer countries.
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VELLADICS, KATALIN, KÈNE HENKENS, and HENDRIK P. VAN DALEN. "Do different welfare states engender different policy preferences? Opinions on pension reforms in Eastern and Western Europe." Ageing and Society 26, no. 3 (April 24, 2006): 475–95. http://dx.doi.org/10.1017/s0144686x05004551.
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This article examines whether the different welfare states of the European Union member states engender different policy preferences and attitudes among the population. More specifically, it investigates variations in attitudes towards population ageing and pension reforms, and variations in people's retirement age preferences and expectations. It is shown that despite the different cultures and welfare traditions in the old and new member states, there are commonalities in people's value orientations and views about population ageing, not least that the vast majority are pessimistic about the consequences. In both Eastern and Western Europe, the most popular options for pensions reform are to raise taxes and to extend working life, and few favour reducing pension benefits. Despite these similarities, there are also marked attitudinal differences. Eastern Europeans rely more on their children for old-age care and are much more in favour of a pension structure in which benefits depend on the number of children. On personal expectations and preferences for retirement, it is shown that both Eastern and Western Europeans expect to retire from the labour market at an older age than the current actual retirement age.
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Rego, Margarida. "Retirement Age: One size does not fit all." Ciências e Políticas Públicas / Public Sciences & Policies 6, no. 2 (December 2020): 119–47. http://dx.doi.org/10.33167/2184-0644.cpp2020.vvin2/pp.119-147.
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The European population is aging and, by 2050, Portugal will face a most alarming scenario, with an old-age dependency ratio — i.e. the number of individuals aged 65 or older as a share of the active age population — above 65%, almost double the figure for 2016. Portugal has already undertaken measures to improve the financial resilience of the pension system, but still lacks a better understanding of its social sustainability. We resort to the Survey of Health, Aging and Retirement in Europe (SHARE) to study individual heterogeneity on pension preferences and find that poor health and unemployment are, together with age and the length of the contributory career, key elements to understand early retirement, while late retirement is associated with higher income. Identifying socioeconomic groups with incentives to deviate from the statutory retirement age is crucial to policy makers currently debating the retirement age in Portugal.
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Mudrazija, Stipica, Jacqueline L. Angel, Ivan Cipin, and Sime Smolic. "Living Alone in the United States and Europe: The Impact of Public Support on the Independence of Older Adults." Research on Aging 42, no. 5-6 (March 1, 2020): 150–62. http://dx.doi.org/10.1177/0164027520907332.
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While we know that living alone is often associated with greater risk of financial hardship, we have limited knowledge on the possible link between the availability of public support and independent living. We use data from the 2014 Health and Retirement Study and the 2011–2015 Survey of Health, Ageing and Retirement in Europe to compare income and wealth profiles of the population aged 60 and above who are living alone in the United States and 19 European countries. We find that the likelihood of living alone is higher in generous welfare states, with social support and spending both positively associated with living alone. The relationship between personal resources and living alone has a smaller positive gradient in countries with robust welfare systems. The lack of adequate public support in less generous welfare states may constrain the ability of many low-income older adults without a partner to continue living independently.
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Zawada, Anna, and Marjukka Mäkelä. "HTA IN CENTRAL-EASTERN-SOUTHERN EUROPE: FINDING ITS WAY TO HEALTH POLICY." International Journal of Technology Assessment in Health Care 33, no. 3 (2017): 331–32. http://dx.doi.org/10.1017/s0266462317000988.
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The number of publications on health technology assessment (HTA) from Central, Eastern, and Southern Europe (CESE countries) is still low compared with the north and west of Europe. It is not surprising, as the idea of HTA originated from high-income Western economies and was afterward adopted by the south-eastern part of Europe, which mostly consists of middle-income countries. These CESE countries, with less capacity and experience with HTA processes, must deal with even tougher decisions on financing health technologies than north-western Europe. There may even be a lack of confidence to open discussions on their specific needs for HTA.
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Myant, Martin. "Dependent capitalism and the middle-income trap in Europe na East Central Europe." International Journal of Management and Economics 54, no. 4 (December 31, 2018): 291–303. http://dx.doi.org/10.2478/ijme-2018-0028.
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Abstract The post-2008 slowdown in economic convergence by countries of east central Europe towards the level of western Europe is interpreted with the help of a concept of dependent capitalism. Convergence appeared to be rapid up to that year, but then stalled, albeit with differing results depending on the measure used. Dependent capitalism meant that the driver for economic growth comes from inward investment by multinational companies (MNCs). Domestically owned businesses failed when faced with international competition, and their agenda hampers policies supporting an active role from the state. Inward investment is attracted by low wages and has contributed to substantial growth, but the slowdown in investment was accompanied by much slower economic growth and dangers that past investment could turn into a burden on the external balance. The strategies pursued by incoming MNCs have brought areas of upgrading, but frequently leave technological levels somewhat behind those of western Europe. Even where they use the same technologies as in their home countries, wages still remain significantly lower. Achieving full convergence would require a different growth model following a substantial change in economic policies: this does not appear likely in the near future.
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Gurd, Bruce, and Francis Kum Hoong Or. "Attitudes of Singaporean Chinese towards Retirement Planning." Review of Pacific Basin Financial Markets and Policies 14, no. 04 (December 2011): 671–92. http://dx.doi.org/10.1142/s0219091511002354.
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While there is a strong research tradition in exploring attitudes to and behavior in relation to retirement planning in Western countries, (e.g., Grable and Lytton, 1997; Jacobs-Lawson and Hershey, 2005) there is less research in Asian societies. Not only are we unaware of whether demographic factors, such as marital status, income level, level of education and gender, have a different impact in Asian countries, we also do not know the impact of Asian cultural values on retirement planning. Using a sample of 613 working Singaporean Chinese between the ages of 20 and 59 we establish that Chinese cultural heritage such as the belief in luck, destiny and the belief that children will support their elderly parents are not important. However, feng shui is statistically significant in this study.
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Arias-Casais, Natalia, Jesús López-Fidalgo, Eduardo Garralda, Juan José Pons, John Y. Rhee, Radbruch Lukas, Liliana de Lima, and Carlos Centeno. "Trends analysis of specialized palliative care services in 51 countries of the WHO European region in the last 14 years." Palliative Medicine 34, no. 8 (June 10, 2020): 1044–56. http://dx.doi.org/10.1177/0269216320931341.
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Background: Service provision is a key domain to assess national-level palliative care development. Three editions of the European Association for Palliative Care (EAPC) Atlas of Palliative Care monitored the changes in service provision across Europe since 2005. Aim: To study European trends of specialized service provision at home care teams, hospital support teams, and inpatient palliative care services between 2005 and 2019. Design: Secondary analysis was conducted drawing from databases on the number of specialized services in 2005, 2012, and 2019. Ratios of services per 100,000 inhabitants and increase rates on number of services for three periods were calculated. Analysis of variance (ANOVA) analyses were conducted to determine significant changes and chi-square to identify countries accounting for the variance. Income-level and sub-regional ANOVA analysis were undertaken. Setting: 51 countries. Results: Forty-two countries (82%) increased the number of specialized services between 2005 and 2019 with changes for home care teams (104% increase-rate), inpatient services (82%), and hospital support teams (48%). High-income countries showed significant increase in all types of services ( p < 0.001), while low-to-middle-income countries showed significant increase only for inpatient services. Central–Eastern European countries showed significant improvement in home care teams and inpatient services, while Western countries showed significant improvement in hospital support and home care teams. Home care was the most prominent service in Western Europe. Conclusion: Specialized service provision increased throughout Europe, yet ratios per 100,000 inhabitants fell below the EAPC recommendations. Western Europe ratios’ achieved half of the suggested services, while Central–Eastern countries achieved only a fourth. High-income countries and Western European countries account for the major increase. Central–Eastern Europe and low-to-middle-income countries reported little increase on specialized service provision.
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Eeckhout, Patricia Van den. "Waiters, Waitresses, and their Tips in Western Europe before World War I." International Review of Social History 60, no. 3 (December 2015): 349–78. http://dx.doi.org/10.1017/s0020859015000504.
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AbstractIn nineteenth-century restaurants and cafés, customers’ tips provided the income of an increasing number of waiters and waitresses. Not only did employers refrain from paying serving staff a fixed wage, the latter had to share their employers’ general expenses, while some even had to pay a fee for the privilege of working. Exploring newspapers, pamphlets, reports, and union sources, the article discusses in a comparative way how and why these practices were deployed in Amsterdam, Brussels, Vienna, London, and French and German cities. As a result of the overcrowding of the labour market in hospitality, hiring workers became not only a cost-free transaction, it even developed into a source of income. Serving staff paid for the opportunity to collect tips, even if their increasing number reduced individual income. However, as a result of the tipping system, such staff often managed to secure higher “wages” than they would normally have earned.
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Chen, An, Peter Hieber, and Jakob K. Klein. "TONUITY: A NOVEL INDIVIDUAL-ORIENTED RETIREMENT PLAN." ASTIN Bulletin 49, no. 1 (December 26, 2018): 5–30. http://dx.doi.org/10.1017/asb.2018.33.
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AbstractFor insurance companies in Europe, the introduction of Solvency II leads to a tightening of rules for solvency capital provision. In life insurance, this especially affects retirement products that contain a significant portion of longevity risk (e.g., conventional annuities). Insurance companies might react by price increases for those products, and, at the same time, might think of alternatives that shift longevity risk (at least partially) to policyholders. In the extreme case, this leads to so-called tontine products where the insurance company’s role is merely administrative and longevity risk is shared within a pool of policyholders. From the policyholder’s viewpoint, such products are, however, not desirable as they lead to a high uncertainty of retirement income at old ages. In this article, we alternatively suggest a so-called tonuity that combines the appealing features of tontine and conventional annuity. Until some fixed age (the switching time), a tonuity’s payoff is tontine-like, afterwards the policyholder receives a secure payment of a (deferred) annuity. A tonuity is attractive for both the retiree (who benefits from a secure income at old ages) and the insurance company (whose capital requirements are reduced compared to conventional annuities). The tonuity is a possibility to offer tailor-made retirement products: using risk capital charges linked to Solvency II, we show that retirees with very low or very high risk aversion prefer a tontine or conventional annuity, respectively. Retirees with medium risk aversion, however, prefer a tonuity. In a utility-based framework, we therefore determine the optimal tonuity characterized by the critical switching time that maximizes the policyholder’s lifetime utility.
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Rodríguez-Pose, Andrés, and Vassilis Tselios. "Inequalities in income and education and regional economic growth in western Europe." Annals of Regional Science 44, no. 2 (October 15, 2008): 349–75. http://dx.doi.org/10.1007/s00168-008-0267-2.
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Allen, Trevor J. "All in the party family? Comparing far right voters in Western and Post-Communist Europe." Party Politics 23, no. 3 (July 8, 2015): 274–85. http://dx.doi.org/10.1177/1354068815593457.
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Scholarship on far right parties in Post-Communist Europe has borrowed findings and analytical frameworks from studies on the Western European far right. Similarly, studies on Western European far right parties have increasingly referenced instances of far right success in post-communist states. These parties are similar in their Euroskepticism and exclusionary populism. However, little work has compared voters for the far right between regions. Different political opportunity structures have consequences for far right voter profiles in four important respects. First, the linkage between anti-immigrant attitudes and far right support is stronger in Western Europe. Second, far right voters in Western Europe are less religious than their post-communist counter-parts. Third, post-communist far right voters are economic leftists, whereas rightist attitudes toward income redistribution slightly predict a far right vote in Western Europe. Finally, far right voters in Western Europe are more satisfied with democracy as a regime type.
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WAHRENDORF, MORTEN. "Previous employment histories and quality of life in older ages: sequence analyses using SHARELIFE." Ageing and Society 35, no. 9 (July 18, 2014): 1928–59. http://dx.doi.org/10.1017/s0144686x14000713.
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ABSTRACTThis article summarizes previous employment histories and studies associations between types of histories and quality of life in older ages. Retrospective information from the Survey of Health, Ageing and Retirement in Europe (SHARE) was used and the occupational situation for each age between 30 and 65 of 4,808 men and 4,907 women aged 65 or older in Europe was considered. Similar histories were regrouped using sequence analyses, and multi-level modelling was applied to study associations with quality of life. To avoid reverse causality, individuals with poor health prior to or during their working life were excluded. Men's employment histories were dominated by long periods of paid employment that ended in retirement (‘regular’ histories). Women's histories were more diverse and also involved domestic work, either preceding regular careers (‘mixed’ histories) or dominating working life (‘home-maker’ histories). The highest quality of life was found among women with mixed histories and among men with regular histories and late retirement. In contrast, retirement between 55 and 60 (but not earlier) and regular histories ending in unemployment or domestic work (for men only) were related to lower quality of life, as well as home-maker histories in the case of women. Findings remain significant after controlling for social position, partnership and parental history, as well as income in older ages. Results point to the importance of continuous employment for health and wellbeing, not only during the working life, but also after labour market exit.
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Owadally, Iqbal, Jean-René Mwizere, Neema Kalidas, Kalyanie Murugesu, and Muhammad Kashif. "Long-Term Sustainable Investment for Retirement." Sustainability 13, no. 9 (April 29, 2021): 5000. http://dx.doi.org/10.3390/su13095000.
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We consider whether sustainable investment can deliver performance comparable to conventional investment in investors’ long-term retirement plans. On the capital markets, sustainable investment can be achieved through various instruments and strategies, one of them being investment in mutual funds that subscribe to ESG (environmental, social, and governance) principles. First, we compare the investment performance of ESG funds with matched conventional funds over the period 1994–2020, in Europe and the U.S. We find no significant evidence of differing performance (at 5% level) despite using a number of investment performance metrics. Second, we perform a historical backtest to model a UK personal retirement plan from 2000 till 2020, taking full account of investment management fees and transaction costs. We find that investing in an index-tracker fund overlaid with ESG screening delivers a pension which is 10.4% larger than is achieved if the index-tracker fund is used without screening. This is also 20.2% larger than is achieved by investing in a collection of actively managed funds with a sustainable purpose. We conclude that an ESG-screened long-term passive investment approach for retirement plans is likely to be successful in satisfying the twin objectives of a secure retirement income and of sustainability.
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Pikus, Ruslana, and Anna Khemii. "REFORMING OF PENSION INSURANCE SYSTEM OF COUNTRIES OF WESTERN EUROPE." Economic Analysis, no. 27(1) (2017): 131–38. http://dx.doi.org/10.35774/econa2017.01.131.
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Introduction. Investigation of foreign experience of structural pension reform is important for Ukraine. Pension insurance system in Ukraine has not been reformed in time therefore now it should go through all the stages of reforms in short terms. European countries have already passed all these stages. This process has lasted for decades. Investigation of changes in economic thought on the concept of "reform" all over the world in the context of pension insurance and mechanisms of its implementation in Western Europe in the second half of the twentieth century is a prerequisite for effective reform. Purpose. The research aims to investigate the experience of countries of Western Europe as for the structural reform of pension insurance system and its implementation in Ukraine. Results. This article explores the factors that cause structural pension reform in Europe and the possibility of its implementation in Ukraine. The historical stages of emergence and development of retirement insurance in the world have been determined. Two basic models of pension systems have been singled out. Economic thought of leading European scientists as for the pension insurance changes under the influence of time and transformations in the economy have been considered. The reasons of the pension insurance reform in Europe in postwar period have been investigated. The history of the first cumulative programs and the creation of private pension insurance that leaded to a structural reform in the countries of Western Europe have been studied. Different factors that affect the likelihood of structural pension reform in any country and the possibility of such a reform in Ukraine have been investigated.
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Ozili, Peterson K. "Discretionary provisioning practices among Western European banks." Journal of Financial Economic Policy 9, no. 1 (April 3, 2017): 109–18. http://dx.doi.org/10.1108/jfep-07-2016-0049.
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Purpose The purpose of the study is to investigate whether discretionary ‘loan loss provisioning’ by Western European banks is driven by income smoothing or credit risk considerations. Design/methodology/approach To test the income smoothing hypothesis, the study uses ordinary least square regression to examine the relation between loan loss provisions and earnings before tax and loan loss provisions in the post-financial crisis period. Findings The authors find evidence that discretionary provisioning by Western European banks is driven by income smoothing incentives in the post-financial crisis period, particularly, among listed banks. Also, it is observed that discretionary provisioning is significantly influenced by credit risk factors, mainly, non-performing loans and loan growth. Also, it is found that discretionary provisioning by Western European banks is procyclical with fluctuations in the economic cycle. Overall, the implication of the findings is that discretionary provisioning among Western European banks is driven by both income smoothing and credit risk considerations. Originality/value This study focus on banks in Western Europe in contrast to prior European studies.
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KNESEBECK, OLAF VON DEM, MORTEN WAHRENDORF, MARTIN HYDE, and JOHANNES SIEGRIST. "Socio-economic position and quality of life among older people in 10 European countries: results of the SHARE study." Ageing and Society 27, no. 2 (February 15, 2007): 269–84. http://dx.doi.org/10.1017/s0144686x06005484.
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This study examines associations between quality of life and multiple indicators of socio-economic position among people aged 50 or more years in 10 European countries, and analyses whether the relative importance of the socio-economic measures vary by age. The data are from the Survey of Health, Ageing and Retirement in Europe (SHARE) in 2004. 15,080 cases were analysed. Quality of life was measured by a short version of the CASP-19 questionnaire, which represents quality of life as comprising four conceptual domains of individual needs that are particularly relevant in later life: control (C), autonomy (A), self-realisation (S) and pleasure (P). The short version has 12 items (three for each domain). Five indicators of socio-economic position were used: income, education, home ownership, net worth, and car ownership. A multiple logistic regression showed that quality of life was associated with socio-economic position, but that the associations varied by country. Relatively small socio-economic differences in quality of life were observed for Switzerland, but comparatively large differences in Germany. Education, income, net worth, and car ownership consistently related to quality of life, but the association of home ownership was less consistent. There was no indication that the socio-economic differences in quality of life diminished after retirement (i.e. from 65+ years). Conventional measures of socio-economic position (education and income), as well as alternative indicators (car ownership and household net worth), usefully identified the differential risks of poor quality of life among older people before and after the conventional retirement age.
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Roy, Tirthankar. "Economic Conditions in Early Modern Bengal: A Contribution to the Divergence Debate." Journal of Economic History 70, no. 1 (March 2010): 179–94. http://dx.doi.org/10.1017/s0022050710000094.
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This article contributes to the debate on relative levels of living in the early modern world by estimating the income and probable range of income growth in Bengal before European colonization. The exercise yields two conclusions, (a) average income in Bengal was significantly smaller than that in contemporary Western Europe, and (b) there is insufficient basis to infer either growth or decline in average income in the eighteenth century.
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Didden, Bastiaan M. M. "Cross Border Qualification Problems Between Social Security and Supplementary Pension: More Guidance Needed?" EC Tax Review 29, Issue 2 (March 1, 2020): 62–70. http://dx.doi.org/10.54648/ecta2020008.
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The encouragement of the accrual of an adequate retirement income has the attention, not only of national governments, but also of the European Commission (EU Member States have initiated reforms of their pension systems, amongst others to provide an adequate pension income. The European Commission stated in 2017 that as part of social protection, every EU citizen should be entitled to an adequate pension, see: European Commission, Commission Recommendation on the European Pillar of Social Rights, C (2017) 2600 final, 26 April 2017, page 8. The European Commission has already expressed this ambition in its White Paper – An Agenda for Adequate, Safe and Sustainable Pensions, published in 2012, see: European Commission, White Paper – An Agenda for Adequate, Safe and Sustainable Pensions, 16 February 2012, COM (2012) 55, page 12. The broadly supported endeavour to achieve an adequate pension income also implies that a multi-pillar approach is recognized by Member States, whereby not only the statutory pension, but also other forms of retirement savings (such as supplementary pension) has to ensure an adequate income after retirement. With regard to promoting cross border labour mobility, reference can be made to the ‘Europe 2020 strategy’.). In cross border situations, a mobile employee may be confronted with various legal obstacles that may hinder an adequate pension accrual and cross border labour mobility. In this article the so-called cross border qualification problems between social security and supplementary pension will be addressed. It is examined how the three qualification problems are recognized in a European law context and to what extent more guidance can be provided on a European level to eliminate the negative consequences of the present qualification problems. cross border pensions, social security, supplementary pensions, accrual of pensions, qualification, mobile employee, double taxation, mutual recognition, European Pension Register, pension premium provision, soft law
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Friedel, Sabine. "What They Expect Is What You Get: The Role of Interviewer Expectations in Nonresponse to Income and Asset Questions." Journal of Survey Statistics and Methodology 8, no. 5 (July 17, 2019): 851–76. http://dx.doi.org/10.1093/jssam/smz022.
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Abstract Personal income and assets are sensitive topics to discuss. This phenomenon is reflected in high rates of nonresponse to financial questions in surveys. In face-to-face surveys, item nonresponse is influenced by interviewers. Although interviewers are trained to conduct standardized interviews, some obtain a higher number of item nonresponses than others. This study examines interviewer effects on nonresponse to questions about household income, bank balances, and interest and dividend income in the Survey of Health, Ageing and Retirement in Europe (SHARE). It first investigates the extent to which interviewers affect nonresponse to income and asset questions and second whether interviewers’ prior expectations regarding respondents’ likelihood to provide information about their income predict actual nonresponse rates. Results of multilevel modeling show that interviewer influence on nonresponse to the income and asset questions was significant at the five percent level. In addition, interviewer expectations were significantly correlated with “don’t know” responses and “refusals.” These results indicate that interviewer expectations matter in the context of income and asset questions and that survey practitioners should take this into account when designing interviewer training.
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Horackova, Katerina, Miloslav Kopecek, Vendula Machů, Anna Kagstrom, Dag Aarsland, Lucie Bankovska Motlova, and Pavla Cermakova. "Prevalence of late-life depression and gap in mental health service use across European regions." European Psychiatry 57 (January 15, 2019): 19–25. http://dx.doi.org/10.1016/j.eurpsy.2018.12.002.
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AbstractBackground We aimed to determine the prevalence and gap in use of mental health services for late-life depression in four European regions (Western Europe, Scandinavia, Southern Europe and Central and Eastern Europe) and explore socio-demographic, social and health-related factors associated with it.Methods We conducted a cross-sectional study based on data from the Survey on Health, Ageing and Retirement in Europe. Participants were a population-based sample of 28 796 persons (53% women, mean age 74 years old) residing in Europe. Mental health service use was estimated using information about the diagnosis or treatment for depression.Results The prevalence of late-life depression was 29% in the whole sample and was highest in Southern Europe (35%), followed by Central and Eastern Europe (32%), Western Europe (26%) and lowest in Scandinavia (17%). Factors that had the strongest association with depression were total number of chronic diseases, pain, limitations in instrumental activities of daily living, grip strength and cognitive impairment. The gap in mental health service use was 79%.Conclusions We suggest that interventions to decrease the burden of late-life depression should be targeted at individuals that are affected by chronic somatic comorbidities and are limited in mental and physical functioning. Promotion of help-seeking of older adults, de-stigmatization of mental illness and education of general practitioners could help decrease the gap in mental health service utilization.
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Formanek, Tomas, Anna Kagstrom, Petr Winkler, and Pavla Cermakova. "Differences in cognitive performance and cognitive decline across European regions: a population-based prospective cohort study." European Psychiatry 58 (March 12, 2019): 80–86. http://dx.doi.org/10.1016/j.eurpsy.2019.03.001.
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AbstractBackground:A large variation in cognitive performance exists between European regions. However, it is unclear how older Europeans differ in the rate of cognitive decline.Methods:We analysed data from 22 181 individuals (54% women; median age 71) who participated in the Survey on Health, Ageing and Retirement in Europe. Cognition was measured using tests on verbal fluency, immediate and delayed recall. We used linear regression and linear mixed effects regression to examine regional differences in the level of cognitive performance and the rate of cognitive decline.Results:Scandinavians had the highest baseline cognitive scores (mean standardized overall cognitive score 0.3), followed by Western Europeans (mean 0.2), Central and Eastern Europeans (mean 0.1) and individuals from Mediterranean countries (mean -0.4). These differences persisted even after adjustment for sociodemographic and clinical characteristics. The annual cognitive decline in Scandinavia (0.59%) was approximately two times greater than in Western Europe (0.28%), Central and Eastern Europe (0.25%) and Mediterranean countries (0.23%).Discussion:There are substantial differences in cognitive performance as well as rates of cognitive decline among the elderly throughout European regions. This might be explained by differing levels of cognitive reserve.
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Kalbarczyk-Stęclik, Małgorzata, and Anna Nicińska. "The events of the past and the economic situation and the health of 50+ people in Europe." Wiadomości Statystyczne. The Polish Statistician 60, no. 5 (May 28, 2015): 17–26. http://dx.doi.org/10.5604/01.3001.0016.0847.
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Data from the SHARE panel (Survey of Health, Ageing and Retirement in Europe), expanded in the third round SHARELIFE panel, show that the events of the past are important for the development of the current situation and the economic health of living in Europe people aged at least 50 years. Self-assessment of health status and handshake power differ significantly depending on the health and economic status in childhood, the experience gained during periods of ill and medical care in adulthood. For those with the lowest economic status in childhood, stratification has not changed later in life. Bad or just satisfactory health in childhood was associated with low household income in later life. This was not observed in periods of deterioration in health in adulthood.
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Buve, Raymond. "Peasantry and the State in Colonial Mexico: A Tentative Comparison with Western Europe." Itinerario 15, no. 2 (July 1991): 97–114. http://dx.doi.org/10.1017/s0165115300006409.
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Peasants is a blanket term for all those who, one way or another are involved in agrarian activities, be it as a labourer, a herdsman, a sharecropper, a tenant, an independent cultivator or in a combination of two or more of these activities. Besides this, one will have to account for part-time income from migratory labour or economic activities as home industries, petty trade, transport or mining. Many peasant societies are internally stratified into richer peasants, sometimes village élites, middle peasants and their poor brethren. In Western Europe and in Mexico most peasants belonged to the latter category. For them Darnton's conclusion, ‘to eat or not to eat, that was die question peasants confronted in their folklore as well as in their daily lives’ was certainly valid, and, out of necessity, these peasants were often looking for additional land or income. They were, for that matter, mobile.
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Tytko, Anna, and Hanna Stepanova. "INTERNATIONAL EXPERIENCE OF DECLARING PROPERTY, ASSETS AND PRIVATE INTERESTS." Baltic Journal of Economic Studies 5, no. 1 (March 22, 2019): 214. http://dx.doi.org/10.30525/2256-0742/2019-5-1-214-217.
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The aim of the article. To analyse the specificities of asset and private interest declaration by public officials and representatives of political power, as well as to suggest the author’s original differentiation of declarations of assets, income, private interests, and gifts. The subject of the study is the procedure for submitting declarations by persons entrusted with functions of the state and local self-government bodies in some countries of Western Europe. Methodology. In the article, the method of deduction and induction enabled to study the features of violating the requirements of financial control through the procedure for submitting a declaration by persons entrusted with functions of the state and local authorities. The methods of deduction and synthesis enabled to define the concept of “asset and interest declaration”, practiced in some countries of Western Europe. A comparative legal analysis enabled to study the procedure for submitting an income and expenditure declaration in some Western European countries, identifying the main types of conflict of interest and income declarations, as well as differentiating persons obliged to submit declarations. The results of the study revealed that the foreign experience of asset declaration is closely intertwined with the private interest declaration. Practical implications. In the study: first, the specificities of foreign declaration practice, according to the subjects of such declaration submission, are outlined; second, the procedures for submitting declarations of income and expenditures, as well as interests, are analysed and compared; third, the author’s perspective on the differentiation of declarations and declarants is substantiated. Relevance/originality. The comparative legal analysis enabled to study the procedure for submitting a declaration of public officials in some countries of Western Europe, empowering to form perspective areas of legislation development in this sphere.
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Hohnerlein, Eva Maria. "Pension indexation for retirees revisited – Normative patterns and legal standards." Global Social Policy 19, no. 3 (April 17, 2019): 246–65. http://dx.doi.org/10.1177/1468018119842028.
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Maintaining adequate pension levels throughout the entire retirement phase is a persistent challenge in old-age protection. Most public pension schemes in OECD (Organisation for Economic Co-operation and Development) countries provide for some form of indexation for pensions in payment. These mechanisms have been object of frequent revisions for different purposes, in particular across Europe. This article explores the social and financial policy objectives linked to standard indexation parameters in public pension schemes, and offers a rough taxonomy of additional factors used to modify traditional indexation arrangements, with a special focus on changing rules and practices adopted in the European Union (EU) area after the 2008 international economic and financial crisis. Analysis suggests that early responses were mainly driven by cost containment ideas, whereas more recently, a subtle shift towards adequacy-oriented interventions can be noticed. The article argues that restrictive pension indexation rules in combination with overall retrenchment of public pension provision fail to take into account the increasing duration of retirement and corresponding pension erosion. Such failure calls into question not only income security during retirement as a major objective of old-age pensions but also compliance with international standards of social security set by the International Labour Organisation (ILO) and the Council of Europe. More social policy research is needed in view of the increasing complexities of indexation rules, as shortfalls in indexation can cause significant impairment in the living conditions of older pensioners, predominantly women.
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González-Touya, Marta, Alexandrina Stoyanova, and Rosa M. Urbanos-Garrido. "COVID-19 and Unmet Healthcare Needs of Older People: Did Inequity Arise in Europe?" International Journal of Environmental Research and Public Health 18, no. 17 (August 31, 2021): 9177. http://dx.doi.org/10.3390/ijerph18179177.
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Background: The disruption in healthcare provision due to the COVID-19 pandemic forced many non-urgent medical treatments and appointments to be postponed or denied, which is expected to have huge impact on non-acute health conditions, especially in vulnerable populations such as older people. Attention should be paid to equity issues related to unmet needs during the pandemic. Methods: We calculated concentration indices to identify income-related inequalities and horizontal inequity in unmet needs due to postponed and denied healthcare in people over 50 during COVID-19, using data from the Survey on Health, Ageing and Retirement in Europe (SHARE). Results: Very few countries show significant income-related inequalities in postponed, rescheduled or denied treatments and medical appointments, usually favouring the rich. Only Estonia, Italy and Romania show a significant horizontal inequity (HI) in postponed healthcare, which apparently favours the poor. Significant pro-rich inequity in denied healthcare is found in Italy, Poland and Greece. Conclusions: Although important income-related horizontal inequity in unmet needs of European older adults during the early waves of the COVID-19 pandemic is not evident for most countries, some of them have to carefully monitor barriers to healthcare access. Delays in diagnosis and treatments may ultimately translate into adverse health outcomes, reduced quality of life and, even, widen socio-economic health inequalities among older people.
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AJEMUNIGBOHUN, Sunday Stephen, Noah Gbenga ALLI, and Kamal GANIYU. "PRE-RETIREMENT PENSION PLANNING AND LIFE INSURANCE PURCHASE AMONG RETIRED CIVIL SERVANTS IN SOUTH-WESTERN, NIGERIA." LASU Journal of Employment Relations & Human Resource Management 1, no. 1 (December 1, 2018): 114–19. http://dx.doi.org/10.36108/ljerhrm/8102.01.0131.
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The study examines the relationship between preretirement pension planning and life insurance purchase with its empirical findings from retired civil servants in Southwestern, Nigeria. Descriptive research design was employed. The study adopted purposive sampling technique. Structured questionnaire was used as a data gathering instrument. 387 respondents were drawn from three Local Government Council Areas from each state. Major statistical technique employed in this study was the Kolmogorov-Smirnov test. Two hypothetical statements were tested. The study recommends that more stringent efforts should be made by insurance practitioners to collaborate with government and other private employers by creating awareness on annuity as the best financing vehicle for retirees to earn gradual income. The regulatory authorities should throw their weight at monitoring any fraudulent activities that may emerge in the retirement risk management process by creating a more reliable data management system that have the capacity to capture any fraudulent attempt or committed fraudulent activities in the Nigerian insurance industry. This research work contributes to knowledge in that it awakes Pension fund managers and Insurance risk managers to be alive to their responsibilities in ensuring that loopholes in the retirement annuity plans are tackled.
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Cenko, Blerta, Emilia Ozgo, Penny Rapaport, and Naaheed Mukadam. "Prevalence of Dementia in Older Adults in Central and Eastern Europe: A Systematic Review and Meta-Analysis." Psychiatry International 2, no. 2 (June 3, 2021): 191–210. http://dx.doi.org/10.3390/psychiatryint2020015.
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Data on dementia prevalence in Europe are primarily based on studies from Western Europe. Central and Eastern European countries differ from Western European countries in their average income and other socioeconomic and health factors that are relevant for dementia risk. We, therefore, conducted a systematic review of population-based studies on prevalence of dementia in Central and Eastern Europe. We searched in electronic databases from the date of inception up to July 2019, updated in October 2020. We hand-searched references of included articles and contacted experts in each country to identify further articles. We combined studies by meta-analysis where possible. Ten population-based studies (n = 30,268) met inclusion criteria. We meta-analysed seven studies (n = 11,994). The selected studies were conducted across 5 countries with no studies identified for the vast majority of countries in this region. Prevalence of all-cause dementia was 6.7% (95% CI 5.1–8.2) in those aged 60 or over, and 7.1% (95% CI 5.1–9.2) in those aged 65 and over. Prevalence rates were similar to those in Western Europe, but are increasing over time, compared with the patterns of reduction in age-specific prevalence in Western Europe.
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Dewilde, Caroline. "Explaining the declined affordability of housing for low-income private renters across Western Europe." Urban Studies 55, no. 12 (October 24, 2017): 2618–39. http://dx.doi.org/10.1177/0042098017729077.
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The private rented sector (PRS) recently enjoyed a revival, in particular in the years before and after the Great Financial Crisis (GFC). At the same time however, affordability concerns have come to the fore. The main aim of this paper is to explain trends in housing affordability for lower-income households in the PRS across Western European countries, from a supply versus demand perspective. To this end we: (1) related trends in housing affordability to wider changes in housing systems, welfare regimes, demographic indicators and housing market financialisation; and (2) decomposed affordability trends in terms of rents and incomes, controlling for compositional shifts. We incorporated the spatial dimension by distinguishing between urban and rural regions. Although we could not explicitly test for the more fine-grained mechanisms relating housing market financialisation to increased ‘unaffordability’ of PRS-housing, our findings nevertheless warrant future research into this topic. In particular in countries with strong financialisation (Ireland, the Netherlands, Spain and Portugal) decreasing affordability arises from the fact that during the period 1995–2007 private rent increases were not compensated for sufficiently by income growth. We furthermore found that across urban regions, between 1995 and 2007, affordability worsened through demand pressure arising from in-migration. Changes after the GFC (up to 2013) were more limited and diverse.
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Holzmann, Robert. "Starting Over in Pensions: The Challenges Facing Central and Eastern Europe1." Journal of Public Policy 17, no. 2 (May 1997): 195–222. http://dx.doi.org/10.1017/s0143814x00003548.
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ABSTRACTAll countries in Central and Eastern Europe require rapid and drastic restructuring of their public pension schemes for macro- and microeconomic reasons. While initial considerations were geared towards streamlining the unfunded scheme, reducing many distortions and making it financially sound, some transition economies initiated reform plans for a move from unfunded to funded retirement income provision. The paper reviews the need for reform and surveys the discussion and current plans before addressing three central open questions: How to structure the first and unfunded tier? How to finance the transition toward the second and funded tier? What are the minimum financial sector requirements before funded provisions can be initiated? The success of the current pension reform efforts in Central Europe will have an important bearing on developments throughout Europe. A failure in one transition economy caused by bad design, unprojected deficits, or insufficient financial market preparation could discredit a funded pension system in the whole region; a successful move towards an unfunded-funded multi-tier pension scheme in Eastern Europe could positively stimulate the discussion of pension reform in the European Union.
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Emmer, P. C. "Capitalism Mistaken? The Economic Decline of Surinam and the Plantation Loans, 1773–1850; A Rehabilitation." Itinerario 20, no. 1 (March 1996): 11–18. http://dx.doi.org/10.1017/s0165115300021501.
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Has Europe grown rich because it expanded overseas? According to recent scholarship the answer must be no. During the period between 1500 and 1750 Europe's economy did not provide its inhabitants with a per capita income that was significantly higher than that in other parts of the world. Europe – and only the Western part of it – started to become richer after the Industrial Revolution from 1750 onwards. This far most attempts at linking the expansion of Europe to the Industrial Revolution have failed.
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Randjelovic, Sasa, and Jelena Zarkovic-Rakic. "Addressing inequality and poverty with tax instruments." Ekonomski anali 56, no. 190 (2011): 7–26. http://dx.doi.org/10.2298/eka1190007r.
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There is a consensus, in both academia and economic policy circles, that the reform of the personal income tax system in Serbia is necessary one. Two frequently discussed reform scenarios are East European style flat tax and the comprehensive income tax model of Western Europe. Most Central and Eastern European (CEE) countries have recently reformed their income tax systems by introducing some form of flat tax scheme, while in numerous countries of Western Europe the possibility of flat tax reform is also seriously considered. Opponents of the reform usually stress the adverse distributional effects of flat tax schemes. The aim of our paper is to contribute to the empirical literature on the distributional effects of alternative tax reform scenarios. The analysis is based on the tax and benefit micro-simulation model for Serbia (SRMOD). The results suggest that redesigning the existing income tax system so as to introduce a uniform tax rate and increase the basic allowance would somewhat reduce inequality and improve vertical inequity in taxation. On the other hand, in the case of the introduction of comprehensive income tax, considerably larger equalizing and progressivity effects would be achieved. At the same time, since in both cases redistribution will not affect the bottom decile group, no significant effects (in either cases) on poverty reduction will be achieved.
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WARD, MARIANNE, and JOHN DEVEREUX. "The Road Not Taken: Pre-Revolutionary Cuban Living Standards in Comparative Perspective." Journal of Economic History 72, no. 1 (March 12, 2012): 104–32. http://dx.doi.org/10.1017/s0022050711002452.
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We examine Cuban GDP over time and across space. We find that Cuba was once a prosperous middle-income economy. On the eve of the revolution, incomes were 50 to 60 percent of European levels. They were among the highest in Latin America at about 30 percent of the United States. In relative terms, Cuba was richer earlier on. Income per capita during the 1920s was in striking distance of Western Europe and the Southern United States. After the revolution, Cuba slipped down the world income distribution. Current levels of income per capita appear below their pre-revolutionary peaks.
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Richmond, Christine, Dora Benedek, Bobana Cegar, Peter Dohlman, Michelle Hassine, Beata Jajko, Piotr Kopyrski, et al. "Reassessing the Role of State-Owned Enterprises in Central, Eastern and Southeastern Europe." Departmental Papers / Policy Papers 19, no. 11 (June 18, 2019): 1. http://dx.doi.org/10.5089/9781498315142.087.
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The Central, Eastern, and South Eastern European (CESEE) region is ripe for a reassessment of the role of the state in economic activity. The rapid income convergence with Western Europe of the early 2000s was not always equally shared across society, and it has now slowed dramatically in many countries of the region.