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Around 70 per cent of Australian households reside in owner occupied housing though ownership rates have begun to fall, especially for younger cohorts. Owner occupied housing generally represents the largest single asset in the household wealth portfolio and plays an important role in retirement planning and wealth accumulation. There is some anecdotal evidence that transfers from parents, often termed the 'Bank of Mum and Dad', are an increasingly important mechanism to facilitate entry into homeownership. In this paper we consider transfers in the form of bequests and inter vivos gifts from parents and examine the relationship between transfers, wealth inequality and entry into first-time homeownership. The empirical analysis indicates that bequests and inter vivos transfers hasten entry into homeownership, potentially alleviating some important liquidity constraints faced by households. [ABSTRACT FROM AUTHOR]

Household survey estimates of retirement income suffer from substantial underreporting which biases downward measures of elderly financial well-being. Using data from both the 2016 Current Population Survey Annual Social and Economic Supplement (CPS ASEC) and the Health and Retirement Study (HRS), matched with administrative records, we examine to what extent underreporting of retirement income affects key statistics: elderly reliance on social security benefits and poverty. We find that retirement income is underreported in both the CPS ASEC and the HRS. Consequently, the relative importance of social security income remains overstated – 53 percent of elderly beneficiaries in the CPS ASEC and 49 percent in the HRS rely on social security for the majority of their incomes compared to 42 percent in the administrative data. The elderly poverty rate is also overstated – 8.8 percent in the CPS ASEC and 7.4 percent in the HRS compared to 6.4 percent in the administrative data. [ABSTRACT FROM AUTHOR]

Twenty years ago, the adjustment to monthly Social Security benefits for early or delayed claiming was, on average, roughly actuarially fair, although some subsets of individuals could gain from delay. Since then, delaying claiming has become much more attractive thanks to three factors: a more generous delayed retirement credit, improvements in mortality, and historically low real interest rates. In this article, I examine how these three factors influence optimal claiming behavior. I also discuss empirical patterns of claiming across individuals and over time, as well as explanations for these patterns. I argue that although many people appear to claim suboptimally early, this behavior may be changing as information spreads about the importance of the claiming decision. Finally, I discuss policy toward claiming and the impact that an increase in strategic claiming could have on Social Security's finances. [ABSTRACT FROM AUTHOR]

Declining labor force participation of older men throughout the 20th century and recent increases in participation have generated substantial interest in understanding the effect of public pensions on retirement. The National Bureau of Economic Research's International Social Security (ISS) Project, a long-term collaboration among researchers in a dozen developed countries, has explored this and related questions. The project employs a harmonized approach to conduct within-country analyses that are combined for meaningful cross-country comparisons. The key lesson is that the choices of policy makers affect the incentive to work at older ages and these incentives have important effects on retirement behavior. [ABSTRACT FROM AUTHOR]

The ageing of the population impacts all areas and is also a challenge for human resources management. To solve this issue, age management practices are used in organisations. To get the best potential out of everyone, this concept should not only involve older employees but should be focused on all of them. Choosing the right practice to get the desired results is a task for managers.

Many Organization for Economic Co-operation and Development countries invest heavily in labor-market programs to prolong careers. Although active labor-market programs have frequently been evaluated, less is known about passive programs supporting unemployed seniors financially. We focus on the latter by investigating the hiring opportunities of candidates who partake in a regime that ensures dismissed seniors a company supplement alongside regular unemployment benefits. Therefore, we conduct a scenario experiment in which genuine recruiters evaluate fictitious candidates who have spent varying durations unemployed in regimes with and without the company supplement. Because recruiters evaluate candidates' hireability and productivity perceptions, we can identify underlying mechanisms. Overall, we find no evidence of employer-side stigma hindering the re-employment of seniors unemployed in the program. Conversely, longer-term unemployed even benefit from this regime because it mitigates regular stigmatization of long-term unemployment, especially for men. Specifically, recruiters judge them more mildly – particularly regarding flexibility – when they receive the supplement and still apply. [ABSTRACT FROM AUTHOR]

This paper examines the causal effect of childcare provision on grandparents’ health in the United States. We use the sex ratio among older adults’ children as an instrument for grandparental childcare provision. Our instrument exploits that parents of daughters transition to grandparenthood earlier and invest more in their grandchildren than parents of sons. We estimate 2SLS regressions using data from the Health and Retirement Study. The results suggest that providing childcare is detrimental to grandparents’ physical functioning and subjective health. We show that these effects increase with the intensity of grandchild care provision, and the effects are driven primarily by grandmothers. [ABSTRACT FROM AUTHOR]

The Netherlands reformed its disability insurance (DI) scheme in 2006. Reintegration incentives for employers became stronger, access to DI benefits became more difficult, and benefits became less generous. Using administrative data on all individuals who fell sick shortly before and after the reform, we study the impact of the reform on labor participation of individuals who fell sick and their spouses. Difference-in-differences estimates show, among other things, that the reform led to an increase of labor participation of the individuals who fell sick only if these individuals had a permanent job, whereas spouses responded to the DI reform in other cases, where the individuals reporting sick had a temporary job or were unemployed. More generally, the spouses respond when the sick individual's labor market position is weak and the individual him- or herself has trouble finding or retaining employment. The effects are persistent during the 10 years after the reform. The effect on the spouse can be seen as an "added worker effect," where additional earnings of the spouse compensate for the sick individual's income loss so that both partners share the burden of a more stringent DI scheme. Comparing individuals reporting sick with and without partner provides further support for the notion that the responses of couples to the reform are joint decisions of the two partners. [ABSTRACT FROM AUTHOR]

We study public versus private provision of health care for veterans aged 65 and older who may receive care provided by the US Department of Veterans Affairs (VA) and in private hospitals financed by Medicare. Utilizing the ambulance design of Doyle et al. (2015), we find that the VA reduces 28-day mortality by 46 percent (4.5 percentage points) and that these survival gains are persistent. The VA also reduces 28-day spending by 21 percent and delivers strikingly different reported services relative to private hospitals. We find suggestive evidence of complementarities between continuity of care, health IT, and integrated care.

Copyright of Sozialer Fortschritt is the property of Duncker & Humblot GmbH and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Sozialer Fortschritt is the property of Duncker & Humblot GmbH and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

As a result of unfavorable demographic processes, the pension systems in the Central and Eastern European (CEE) EU countries face significant challenges, which has made the implementation of reforms inevitable in the last decade. Relying on economic theory, this paper analyses the effects of the Hungarian pension reforms in comparison with those of other CEE countries, and discusses the consequences from the point of view of social policy and the sustainability of the pension schemes. We explore the reasons why the reforms in Hungary ultimately did not improve sustainability but rather contributed to dismantling the social care system. Therefore, the Hungarian case provides useful lessons for other countries, and at the same time underlines the importance of automatic adjustment mechanisms. The study pays particular attention to the theoretical analysis of pension indexation because its accurate quantitative effects are far from being sufficiently clarified in the literature, although it is vital for a thoughtful evaluation of pension reforms. [ABSTRACT FROM AUTHOR]

The aim of this study is to characterise the determinants of the development of the silver economy in the field of care services provided in a residential form for dependent elderly persons in Poland. The analysis was carried out on the basis of statistical and financial background data, including those from the Ministry of Family and Social Affairs, the Ministry of Health, OECD, etc. Although the demand for care services will continue to grow in the coming years, the following barriers to the development of this segment of the silver economy can be identified: lack of employees, unattractiveness of monetary gratification, inefficient financing mechanisms, lack of public investment in the development of care facilities, and increasing costs of providing services in all forms.

This paper presents an analysis of the effects of public old-age support on individuals’ fertility decisions and on the long-term equilibrium in an overlapping generation economy with strategic bequest motives. Parents must pay their adult children at least the reservation wage to receive informal old-age support from them (individual rationality constraint). Formal old-age support is financed through wage taxes on children. The increased present value of formal old-age support tends to increase old-age utility, thereby decreasing the family support demand and decreasing savings for the old age. The increased wage tax reduces the opportunity cost of child-rearing time, thereby increasing the fertility rate. The effects of increased formal old-age support on per-worker capital and labor are indeterminate, as is the effect on the long-term lifetime utility of individuals. A strategic bequest motive might engender a higher fertility rate than that of the social optimum. [ABSTRACT FROM AUTHOR]

As the heterogeneity in life expectancy by socioeconomic status increases, many pension systems imply a wealth transfer from short- to long-lived individuals. Various pension reforms aim to reduce inequalities that are caused by ex-ante differences in life expectancy. However, these pension reforms may induce redistribution effects. We introduce a dynamic general equilibrium-overlapping generations model with heterogeneous individuals that differ in their education, labor supply, lifetime income, and life expectancy. Within this framework we study six different pension reforms that foster the sustainability of the pension system and aim to account for heterogeneous life expectancy. Our results highlight that pension reforms have to be evaluated at various dimensions. Reforms that may increase the sustainability of the pension system are not necessarily conducive to reduce the redistributive wealth transfers from short- to long-lived individuals. Our paper emphasizes the need for studying pension reforms in models with behavioral feedback and heterogeneous socioeconomic groups. [ABSTRACT FROM AUTHOR]

Disability-free life expectancy had been rising continuously in the United States until 2010, suggesting working longer as a solution for those financially unprepared for retirement. However, recent developments suggest improvements in working life expectancy have stalled, especially for minorities and those with less education. This paper uses data from the National Vital Statistics System , the American Community Survey , and the National Health Interview Survey to assess how recent trends, up to 2018, in institutionalization, physical impediments to work, and mortality have affected working life expectancy for men and women age 50, by race and education. [ABSTRACT FROM AUTHOR]

This study employs OECD panel data from 2005 to 2021 and utilizes the CS-ARDL (Cross-sectionally Augmented Autoregressive Distributed Lag) method to reveal a notable positive correlation between the Human Development Index (HDI) and pension income levels. A 1% increase in HDI corresponds to approximately 0.6% and 0.7% increases in short- and long-term pension income. Additionally, green energy deployment positively influences pensions, with a 1% increase leading to about 0.09% and 0.17% increases in the short and long term, respectively. Economic size (GDP) demonstrates a robust positive relationship, and ICT development significantly impacts pension income levels. Policymakers are advised to prioritize local green power generation, sustainable pension funds, and green loans to enhance the welfare of aging populations in OECD countries. [ABSTRACT FROM AUTHOR]

We evaluate the impact of oral polio vaccines on the incidence of all disabilities (locomotor, hearing, visual, speech, and mental) in India, focusing on polio-related disability, which constitutes the largest fraction of locomotor disabilities. Polio was hyperendemic in India even as recently as the early 1990s, but the country was declared wild polio virus-free in 2014. Intent-to-treat effects from difference-in-differences with multiple time period models that condition on demographic and socio-economic characteristics reveal that access to oral polio vaccines in the year of birth reduced the incidence of any disability, locomotor disability, and polio-related disability by 20.5%, 11.6%, and 7.2%, respectively, signaling substantial gains. Impacts on any disability underline that polio vaccines had positive spillover effects on other disability categories as well. The eradication of polio in India, while relatively late, brought significant health benefits and is a notable health economics success story in a developing context. [ABSTRACT FROM AUTHOR]

Women bear a disproportionate share of the unpaid labor within a household, which contributes to gender gaps in life and relationship satisfaction. This paper examines how an exogenous shock that increases the workload within the household impacts the burden of unpaid labor. By exploiting a rich longitudinal dataset from Australia, I estimate the gendered impacts to parental workload and stress, life and relationship satisfaction, and household division of labor when parents have a child with a significant health shock. I find evidence that women experience a decrease in their satisfaction with parenting and life satisfaction. These results are most pronounced for households where the mother is less active in the labor market or less educated. Point estimates indicate that men do not experience the same negative effects. [ABSTRACT FROM AUTHOR]

Do children cooperate when they decide to provide informal care to their elderly parent? This paper assesses whether a cooperative or non-cooperative model drives the caregiving decisions of children. Focusing on families with two children and one single parent, I use data from a survey of older adults in France to compare the predictive power of the two models. Results suggest that children are more likely to behave according to a non-cooperative model, and that a cooperative model overestimates the level of care received by the parents. I construct an indicator of the degree of non-cooperativeness between two children and explore the determinants of non-cooperation. Finally, I show that this indicator is positively correlated with the number of unmet needs the parent has. This latter result suggests that the current level of informal care provided to a parent appears to suffer from a public good problem and the lack of cooperativeness between children has detrimental consequences for the parent. [ABSTRACT FROM AUTHOR]

Extensive research by demographers and economists has shown that longevity differs across socio-economic status (SES), with low-educated or low-income people living, on average, shorter lives than their better-endowed and wealthier peers. Therefore, a pension system with a unique retirement age is a priori problematic. The usual policy recommendation to address this problem is to differentiate the retirement age by SES. This paper explores the relative merits of partial de-annuitization of public pensions as a way of addressing the (imperfectly assessed) inequality of longevity. [ABSTRACT FROM AUTHOR]