scholarly journals Workforce Ageing and Labour Productivity in Europe

2019 ◽  
Vol 11 (20) ◽  
pp. 5851 ◽  
Author(s):  
Iñigo Calvo-Sotomayor ◽  
Jon Paul Laka ◽  
Ricardo Aguado
Keyword(s):  
Economic Activity ◽  
Labour Productivity ◽  
Negative Relationship ◽  
Social Security Systems ◽  
Security Systems ◽  
Contrast Model ◽  
Annual Increase ◽  
Increase In Productivity ◽  
Knowledge Intensive ◽  
The Impact

This article analyses the influence of workforce ageing on labour productivity in Europe. This question is relevant because of the impact it may have on economic activity, social security systems sustainability and the wellbeing of the population. The method applied is a quantitative contrast using the panel data technique for 24 countries in the period 1983–2014. This research is framed in the open conversation in the literature on the possible impact of ageing on productivity and takes as reference the seminal work of James Feyrer and the contrast model developed by Shekhar Aiyar, Christian Ebeke, and Xiaobo Shao. The results obtained show how a 1% increase in the workforce between the ages of 55 and 64 is related to a decrease of the annual increase in productivity between −0.106% and −0.479%. The main contribution of the article is to provide, as far as the authors are aware, the first evidence of this negative relationship for the period 1983–2014, in addition to suggesting that the influence of ageing on productivity may be reduced by the evolution of the economies in question toward capital and/or knowledge-intensive sectors.

scholarly journals Social security compliance in times of crisis. Evaluating the factors for non-compliance in the HORECA sectors in Greece

2021 ◽  
Vol 14 (2) ◽  
pp. 105
Author(s):  
Evangelos Koumarianos ◽  
Apostolos Kapsalis ◽  
Nikolaos Avgeris
Keyword(s):  
Social Security ◽  
Economic Recession ◽  
Competitive Environment ◽  
Social Security Systems ◽  
Security Systems ◽  
Research Findings ◽  
Social Security Reforms ◽  
Security Compliance ◽  
Post Industrial ◽  
The Impact

This article studies the impact of the economic recession, labor market deregulation and social security reforms on the level of non-compliance in Greece. It examines the theoretical framework of non-compliance in post-industrial economies, as well as the design of social security systems in preventing contribution evasion. To assess the evolution of non-compliance, especially under conditions of crisis, we examine the results of the INE-GSEE survey on the HORECA sector. According toour research findings, employers follow non-compliant practices in order to maximize their profits, taking advantage of the precariousness of workers, whereas workers accept or collude with non-compliance as a survival tactic within a highly competitive environment. Non-compliance in the Greek labour market appears to be a multi-factor phenomenon that cannot be explained exclusively in terms of a unique perspective.

The impact of private participation and countervailing information on disability costs: evidence from Chile

2009 ◽  
Vol 8 (3) ◽  
pp. 291-320 ◽  
Author(s):  
ESTELLE JAMES ◽  
ALEJANDRA COX EDWARDS ◽  
AUGUSTO IGLESIAS
Keyword(s):  
System Analysis ◽  
Insurance Companies ◽  
Assessment Procedure ◽  
Social Security Systems ◽  
Medical Problems ◽  
Security Systems ◽  
Traditional System ◽  
Cox Proportional Hazard ◽  
The Impact ◽  
New System

AbstractMany social security systems face high and escalating disability costs. In Chile's new system, the disability assessment procedure includes participation by private pension funds (AFPs) and insurance companies, who finance the benefit, have a direct pecuniary interest in controlling costs and are able to pursue this objective by helping to set criteria and providing countervailing information. We hypothesize that these procedures and incentives will keep costs low, by cutting the incidence of successful claims. Using the Cox proportional hazard model and a retrospective sample of new and old-system affiliates (EPS, 2002), we find that disability hazard rates are only 20–35% as high in the new system as in the old traditional system. Analysis of mortality rates suggests that the new system has accurately targeted individuals with more severe medical problems.

The Effects of Social Security Privatization on Household Saving: Evidence from Chile

2002 ◽  
Vol 1 (1) ◽  
Author(s):  
Julia Lynn Coronado
Keyword(s):  
Social Security ◽  
Financial Stability ◽  
Domestic Saving ◽  
Social Security Systems ◽  
Security Systems ◽  
Household Saving ◽  
Percentage Points ◽  
Saving Rates ◽  
Social Security Privatization ◽  
The Impact

Abstract In recent years, a handful of countries have converted the financing of their social security systems from pay-as-you-go (PAYGO) to partial or full funding. Privatization is viewed as one way to insulate social security from the political and demographic pressures that currently threaten the financial stability of PAYGO systems. However, privatization would improve a nation's situation only if such a reform increases domestic saving. In this paper I use evidence from Chile, where social security was privatized in 1981, to assess the impact of such a reform on household saving rates. I find that the reform provided a significant stimulus for net of social security household saving; increasing household saving rates between 5 and 10 percentage points.

scholarly journals The Measurement of Social Security Convergence: The Case of European Public Pension Systems since 1950

1999 ◽  
Vol 28 (4) ◽  
pp. 595-618 ◽  
Author(s):  
PAUL JOHNSON
Keyword(s):  
Social Security ◽  
System Development ◽  
Social Security System ◽  
Security System ◽  
Public Pension ◽  
Social Security Systems ◽  
Security Systems ◽  
Regime Types ◽  
The Impact ◽  
Over Time

This article proposes a novel way of measuring cross-national changes over time in the outputs of social security systems. Traditional approaches to the comparative analysis of social security systems use expenditure levels, regime types or poverty and inequality rates to rank countries and map change over time. All these approaches encounter the problem of determining how much of the observed change is due to internal developments within the social security system, and how much due to exogenous social and economic factors. Taking the example of public pensions in five European countries since 1950, this article demonstrates how formal social security rules can be used in a simulation model to evaluate changes in public pension payments for a variety of hypothetical individuals characterised by different levels of lifetime income. This procedure produces direct measures of the impact of changes in social security systems which are entirely independent of exogenous developments in social and economic structures. This new method reveals the ‘pure’ effect of internal social security system development over time.

scholarly journals Working Poor in Decommodification Between Belgium and China

2021 ◽  
Vol 18 (1) ◽  
pp. 32-62
Author(s):  
Jinghong Liu
Keyword(s):  
Social Security ◽  
Explanatory Power ◽  
Working Poor ◽  
Social Security Systems ◽  
Security Systems ◽  
Female Workers ◽  
The Social ◽  
Internal Mechanism ◽  
The Impact ◽  
Cross National

The research uses a comparative analysis framework to interpret the multiple commodification processes for the working poor, which consists of research tropisms from a macro-sight system and from the internal mechanism and proceeding course of the social security system. Based on this framework, the authors try to establish an ideal type with a universal explanatory power to reveal the impact of cross-national diversity on social security systems in the decommodification process among poor female workers. The research also examines the extent to which such differences ever existed between Belgium and China in empirical terms.

scholarly journals Ṣukūk: A Sharīʿah Compliant Tool for Financing Budget Deficits

2019 ◽  
Vol 32 (1) ◽  
pp. 119-124
Author(s):  
Omar Zuhair Hafiz Omar Zuhair Hafiz
Keyword(s):  
Economic Growth ◽  
Economic Activity ◽  
Budget Deficit ◽  
Negative Relationship ◽  
Budget Deficits ◽  
International Debt ◽  
Key Variables ◽  
The Government ◽  
The Impact ◽  
The Relationship

The lead paper (Pettifor, 2019) discusses an important issue at the macroeconomic level, especially the impact of financing government’s expansionary budget deficit through borrowing. The paper reiterates that claiming that the use of loans to finance the deficit will lead to a decline in the economic activity and will in turn increase the deficit, is a common misconception. In fact, the data on the British economy over a period of a hundred years, as shown in the lead paper, proves that there is a positive relationship between the volume of the budget deficit (and public debt) and economic activity. This, in turn, lead to a decrease in unemployment and thus, eventually contributed to a reduction in the budget deficit. These results have been proven by other researches as well as I have mentioned in this paper. I have also pointed to other researches which indicate that there is a negative relationship between the size of the debt (or the budget deficit), and economic activity, which contradicts the hypothesis of the lead paper. In this brief comment on the lead paper, I also discuss the fact that the global debt phenomenon has become a burning issue. I present a summary of the state of international debt around the world and discuss its impact on the economies of many countries that repay their debts in hard currencies. I argue that this situation must be taken into consideration when discussing the impact of borrowing to finance the government budget deficit to stimulate economic growth. I also propose that these effects on the borrowing economies should also be analyzed in the event that these international loans are in the form of Islamic instruments (ṣukūk) which are increasingly being used by some governments as a tool to finance their budget deficits, especially among the OIC countries. However, because it is a modern financing tool, several years need to pass before we can viably test the relationship between them and economic growth and the extent of their impact on key variables at the macro level of the economy.

scholarly journals Empirical Cost of Electricity Outage on Labour and Capital Productivity in Nigeria

2022 ◽  
Vol 3 (1) ◽  
Author(s):  
Osinachi Iroh ◽  
Ijeoma Kalu ◽  
Alwell Nteegah
Keyword(s):  
Total Factor Productivity ◽  
Electricity Generation ◽  
Labour Productivity ◽  
Negative Relationship ◽  
Series Data ◽  
Electricity Pricing ◽  
Factor Productivity ◽  
Power Outages ◽  
Power Outage ◽  
The Impact

This study empirically examined the impact of electricity power outages on Nigeria’s capital and labour productivity.  The emphasis is on how frequent electricity outage reduces labour and capital effectiveness and other factors of production.  To achieve the above objective, annual time series data on Total Factor Productivity - a proxy for Nigeria’s factors productivity, Power Outage (electric power transmission and distribution losses as % of output), and other controlled variables were used to estimate the relationship and all data were from World Bank Development Indicators (WDI). The Fully Modified Ordinary Least Square (FOLS) technique was adopted for analysis.  The empirical results showed a negative relationship between power outages and factor productivity.  The result also reveals that electricity pricing has a significant negative impact on the factor productivity while both electricity generation and population have a significant positive impact on Nigeria’s total factor productivity.  The implication is that the substitution effect between labour and capital is positive, meaning that Nigeria exhibits a labour-intensive production function. In conclusion, the study is of the opinion that power outage and electricity pricing negatively impact factors productivity while electricity generation and population have a positive relationship with factors productivity in Nigeria.

scholarly journals The political economy of pension systems with low‑skilled labor mobility: a crossss‑country analysis

2018 ◽  
pp. 27-48 ◽  
Author(s):  
Ana Fontoura Gouveia
Keyword(s):  
Labor Mobility ◽  
Pension System ◽  
Majority Voting ◽  
Skilled Labor ◽  
Social Security Systems ◽  
Security Systems ◽  
Tax Rate ◽  
Country Analysis ◽  
The Interest Rate ◽  
The Impact

This paper analyzes the impact of international low‑skilled labor mobility on the majority support for a pension system in individual countries and on the welfare of the different agents. The two countries considered differ in the amount of redistribution from the high to the low‑skilled population embedded in their pay‑as‑you‑go social security systems, whose size (tax rate) is decided by majority voting, anticipating the impact on mobility. We show that labor mobility can create the conditions for a majority to favor pensions in a Bismarckian country, due to the ageing of the population caused by the departure of the young mobile. In a Beveridgean country, mobility does not necessarily undermine the support for the system, but may make the conditions for its existence more stringent, even if no individual migrates in equilibrium. Finally, we show that while labor mobility is always politically sustainable in the non‑redistributive country, its political feasibility is at stake in the country performing income redistribution through the pension system whenever the interest rate is not sufficiently large.

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