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Social Transfers, Labor Supply and Poverty Reduction : The Case of Albania

Autor: Kilic, Talip; Dabalen, Andrew; Wane, Waly.
Año: 2008
Resumen: In 1993, in response to persistent unemployment, and rising poverty and social unrest, the government of Albania introduced an anti-poverty program, namely Ndihma Ekonomike; in 1995 it was extended to all poor households. This paper estimates the separate effects of participation in this income support program and the old-age pension program on objective and subjective measures of household poverty. The analysis uses the nationally representative Albanian Living Standards Measurement Surveys carried out in 2002 and 2005. Using propensity score matching methods, the paper finds that Ndihma Ekonomike households, particularly urban residents, have lower per capita consumption and are more likely to be discontented with their lives, financial situation, and consumption levels than their matched comparators. In contrast, households receiving pensions are not significantly different from their matched comparators in reference to the same set of outcomes. The paper finds that the negative impact of Ndihma Ekonomike participation on welfare is driven by a negative labor supply response among work-eligible individuals. This negative labor response is larger among women and urban residents. In contrast to Ndihma Ekonomike, the receipt of old-age pension income transfers does not significantly impact the labor supply of prime-age individuals living in pension households.

Fuente: Banco Mundial
Clasificación: Mercado Laboral
Tipo de Publicación: Documentos de Trabajo
Idioma:

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Comparing Aggregate Investment Returns in Privately Managed Pension Funds: An Initial Assessment

Autor: Tapia, Waldo
Año: 2008
Resumen: This report presents an initial assessment of the financial performance of privately managed pension funds, both mandatory and voluntary, in Latin America and Central and Eastern Europe, as well as selected OECD countries. It provides a comparative description of private pension funds in the 23 countries included in the report, examining the value assets under management, the weight of investments in the economy and the allocation of investments among the various asset categories and financial instruments available. The report also presents a new dataset on the investment performance achieved by the privately managed pension funds, including the annual real rates of return, the annual geometric average of real returns, as well as summary statistics of these returns for all countries for the period for which data is available.

Fuente: Organización para la Cooperación y el Desarrollo Económico (OCDE)
Clasificación: Fondos de Inversión
Tipo de Publicación: Documentos de Trabajo
Idioma:

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National Annuity Markets Features and Implications

Autor: Rusconi, Rob
Año: 2008
Resumen: This paper describes a number of national annuity markets, the types of products typically available, the demand for these products, the value for money on offer and the dynamics of the supply side. It explores supply and demand characteristics, asking what the main forces are that drive these dynamics and how they might be recognised and responded to by policymakers.

Fuente: Organización para la Cooperación y el Desarrollo Económico (OCDE)
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Documentos de Trabajo
Idioma:

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Policy Options for the Payout Phase

Autor: Antolín, Pablo
Año: 2008
Resumen: This paper assesses how countries‘ pension arrangements and regulation shape the appropriate structure and flexibility of retirement payout options. The paper aims at providing a guide to policy makers on how to address the diverse questions posed when designing the payout phase or promoting DC pension arrangements, as well as encouraging a market for annuities. The paper addresses questions concerning the type of retirement payout options for accumulated assets in DC plans a country should allow, which entities should provide annuities, and the type of annuity products that could be allowed. The main recommendation is for policy makers to consider mandating deferred life annuities that start paying at very old ages (e.g. at age 85) and allow for the remaining assets accumulated in DC accounts to be allocated as programmed withdrawals (preferably with flexibility to face contingencies).

Fuente: Organización para la Cooperación y el Desarrollo Económico (OCDE)
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Documentos de Trabajo
Idioma:

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Ageing and the Payout Phase of Pensions, Annuities and Financial Markets

Autor: Antolín, Pablo
Año: 2008
Resumen: This paper reviews the impact of ageing on private pensions, in particular on the payout phase, assesses the part that annuities can play in financing retirement, and examines the role of financial markets in facilitating the allocation on assets accumulated in defined contribution pension plans. A comprehensive set of recommendations for discussion is provided at the end of the paper.

Fuente: Organización para la Cooperación y el Desarrollo Económico (OCDE)
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Documentos de Trabajo
Idioma:

Para visualizar el documento, clic aquí »

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