Search results for "Econometric"
showing 10 items of 3780 documents
French patient-reported experience of diagnosis, management and burden of neuroendocrine tumors
2020
Background: There is a lack of knowledge regarding the experience of patients with neuroendocrine tumors (NET) in France. Materials & methods: A patient survey that captured information on diagnosis, disease impact/management and awareness was conducted. Data of respondents from France were analyzed and compared with US data as a reference. Results: Key topics included delays in diagnosis, negative impact on quality of life, patient access to NET medical experts and treatments, and information on NET and treatments. Significant differences were observed between France and the USA regarding NET diagnosis. Conclusion: This survey highlights the considerable burden experienced by patients…
The effects of recent Spanish pension reforms on sustainability and pension adequacy
2017
ABSTRACTThe Spanish pension system has been recently reformed as a response to the demographic challenge and with the objective of ensuring the sustainability of the pension system in the long-term. The overall reforms include changes in the majority of the system parameters, a new indexation rule and a sustainability factor that links life expectancy and the first pension amount. The aim of this work is to analyse how these reforms affect two important features of a pension system: fiscal sustainability and adequacy. For this purpose, the real internal rate of return (IRR) of the lifetime contributions and benefits and the prospective gross theoretical replacement rate (TRR), both before a…
Integrating retirement and permanent disability in NDC pension schemes
2015
ABSTRACTIn this article, we develop a theoretical basis for integrating retirement and permanent disability using a generic nonfinancial defined contribution framework. The methodology we use relies on a multistate overlapping generations model that includes the so-called survivor dividend. Currently, this feature can only be found in the Swedish defined contribution (DC) scheme. The results achieved in the numerical example we present endorse the fact that the model works well. Special attention is given to the assumptions made about mortality rates for disabled people and disability incidence rates, which largely determine the contribution rate assigned to disability. The model could be o…
Nonfinancial defined contribution pension schemes: is a survivor dividend necessary to make the system balanced?
2013
The survivor dividend, at a specific age, is the portion of participants’ credited account balances that is distributed on a birth cohort basis from the account balances of participants who do not survive to retirement. This article develops a model to show whether it would be justified to include the survivor dividend in the calculation of affiliate pension balances. The main findings are that the survivor dividend has a strong financial basis which enables the macro contribution rate applied to be the same as the individual credited rate, and that including the survivor dividend in the calculation of the initial pension is not irrelevant because the initial pension could rise by up to 21.…
Strategic Responses: A Survey Experiment on Opposition to Pension Reforms*
2013
The responses given in opinion polls on future policy reforms reflect both subjective expectations and preferences. We disentangle these factors using data from a controlled survey experiment conducted in Germany. At the time of the experiment, an increased retirement age had been proposed as part of a pension reform. Thus, the survey respondents faced an incentive to give biased responses. By understating their expected work ability at the age of retirement, they could make the increase of the retirement age a less attractive policy option. We find evidence for such strategic response behavior, and this strategic bias appears to be stronger in former communist East Germany.
AN EXPERIMENTAL TEST ON RETIREMENT DECISIONS
2007
I. INTRODUCTION The reform of social security systems is now one of the main issues on the economic policy agenda of most industrialized countries. It is widely considered that, unless serious changes take place, the aging of the population implying a rise in the number of retirees relative to that of workers will threaten the viability, of pay-as-you-go public pension systems in the long run. This threat is being reinforced by the progressive reduction in the retirement age of the working population. The central reforms that are being proposed to neutralize these future financing problems are the raising of the contribution rate, the decreasing of pension benefits, or/and the delay of the …
Subjective Economic Risk to Beneficiaries in Notional Defined Contribution Accounts
2006
ABSTRACT This article aims to quantify the aggregate subjective economic risk to which beneficiaries would be exposed if a retirement pension system based on notional account philosophy were introduced. We use scenario generation techniques to make projections of the factors that determine the real expected internal rate of return (IRR) and the expected replacement rate (RR) for the beneficiary according to six retirement formulae based on the most widely accepted rates or indices. We then apply the model to the case of Spain. Our projections are based on Herce and Alonso's macroeconomic scenario 2000-2050 (2000) and include information about the past performance of the indices and the time…
Automatic Balance Mechanisms in Pay-As-You-Go Pension Systems
2009
This paper shows the usefulness of the automatic balance mechanisms (ABMs) and explores the issue of introducing an ABM into the Spanish public contributory retirement pension system. We define the concept of the automatic balance mechanism and carry out an analysis of those existing in Sweden, Canada, Germany, Japan and Finland. We also present an indicator of the Spanish system's solvency which emerges from the actuarial balance sheet, and simulate the effect that certain changes in the parameters of the present system would have on solvency, showing the direction that could be taken if the mechanism were to be introduced in Spain. The main conclusion reached is that, given the system's s…
"Compiling the Actuarial Balance for Pay-As-You-Go Pension Systems. Is it better to use the Hidden Asset or the Contribution Asset?"
2013
The aim of this paper is twofold: to establish the connection between the "contribution asset" (CA) and the "hidden asset" (HA) and to determine whether using either of them to compile the actuarial balance sheet in the pay-as-you-go (PAYG) pension system will provide a reliable solvency indicator. With these aims in mind, we develop a model based on those first put forward by Settergren and Mikula (2005) and Boado-Penas et al. (2008) to obtain the analytical properties of the CA and to confirm its soundness as a measure of the assets of a PAYG scheme. Our model also enables us to explore whether, and to what extent, the HA can be considered a second alternative measure of the assets for PA…
Análisis de la representatividad de la MCVL: el caso de las prestaciones del sistema público de pensiones
2016
El objetivo de este trabajo es contribuir a aumentar el conocimiento de la Muestra Continua de Vidas Laborales (MCVL) en cuanto a la informacion sobre prestaciones y advertir de posibles errores que se podrian cometer a la hora de realizar cierto tipo de estudios sobre el sistema publico de pensiones. Se analiza el conjunto de datos de prestaciones de la MCVL de 2010 teniendo en cuenta los datos agrupados por tipo de pension, grupos de edad y genero, asi como por cuantia. Despues de realizar las pruebas estadisticas apropiadas sobre el ajuste de la muestra a la poblacion basada en los datos del Informe Estadistico anual del INSS del mismo ano, se concluye que los datos extraidos de la MCVL …