This thesis uses a computable Overlapping Generation (OLG) model to examine the Chinese pension reform. The research involves calibrating an OLG model for the Chinese economy and undertaking policy evaluations. Model calibration involves choosing a set of household and firm parameters to capture the key features of the Chinese economy and pension system. Policy evaluation involves using the calibrated model to compare economic variables under alterative pension policies. The major pension policy focus is a comparison of Pay-As-You-Go (PAYG) and full funded social security designs. The thesis examines the effect of pension reform on the economy from both economy-wide and inter-generational dimensions. Based on the simulation results the thesis argues for two conclusions. Firstly, China’s economic output would increase if the pension reform occurred, as the capital stock under the full funded scheme is higher than under the PAYG scheme. Secondly, the thesis finds that the losers are the older generation at the time of the pension reform but that all other generations would benefit from the reform.
The main purpose of this book is to study the macroeconomic and welfare effects of the social security system in Iran. Iranian social security system is fragmented in different schemes, out of which, I focus on two major schemes related to the two main pension organizations, i.e., SSO and CSRO. These two pension systems have not only different mandates but also are governed by different rules and regulations. Moreover, due to the demographic changes, institutional draw- back, early retirement, reduced number of contributors and growing liabilities, that brings about the current system in the verge of collapse. These points are compelling reasons for a comprehensive reform in the Iranian pension system. Furthermore, in order to have a clear understanding of the reform, it is required to become acquainted with the Iranian tax system. Hence,I also studied the tax reform in Iran.
This book analyzes the politics of pension reform during the postcommunist transition in Central and Eastern Europe (CEE). The book is concerned with how domestic political institutions and actors interact with external influences to shape the outcome of pension reform. It argues that despite similar pension crises and external pressures, CEE countries have pursued distinct types of reform, mainly due to different patterns of party politics.
Portugal is ageing, and this is a major challenge for the long-term sustainability of its public finances. How to reform its overwhelmingly pay-as-you-go public pension system has dominated the policy debate in the last two decades. But demographic pressures are not the only concern. Far from mature, the full effects of an expanding and often generous coverage are yet to be felt. Also, political manipulation, multiple subsystems, and a very complex set of rules are all troublesome in terms of financial sustainability and economic efficiency. This book has a comprehensive account of how the public pension system evolved. Using a dynamic general equilibrium model with a detailed pension module, parameterized with administrative records, it evaluates all the policy changes enacted until 2007, the last major overhaul of the system. Long-term financial sustainability is assessed, and a reform package is proposed that addresses structural deficiencies and closes the sustainability gap without creating a problem of insufficient pension income. This book is a must-read for anyone in academia or in public policy who is interested in an analytically-sound approach to public pension reform.
The pension system is of particular importance because they are closely related to life quality and standards (during both, working years and retirement). Another importance issue related to this system in the broader context is the fact that it often becomes significant cost to the government budget especially in the countries that apply the public pension system. Albania has more than 20 years that has passed from a centralized system to free market economy. This transition has brought challenges and obstacles for systems consisting in decision making and implementation of various reforms in economic, social, political, etc.. Many of the economic reforms have shown positive results in Albanian economic growth and development. But on the other hand there are also special systems in the economy, such as the pension system, which despite reforms undertaken over the years, this system has not yet reached stability. This study tries to highlight and find solutions to some issues related to pension system such as population aging, evasion and future reforms.
This work is presenting some forecasts of key developments aggregate of public pension system under transition of the Romanian economy from the status of "in transition" to the market economy - necessity, implementation and immediate effects. In the same time, is presenting theoretical-methodological bases of the macroeconomic forecasting model, the labour market and population - MITGEM, the impact of EU integration on macro-economic developments of the main variables influencing the profitability of pension funds ; alternative forecast scenarios - as the main way of operating the MITGEM model. Also, is presenting the prospective of the main variables of pension system structure of the model scenarios within MITGEM, average pension, the average retirement pension, disability pension and survivor's pension in Romania.
China is home to a fifth of the worlds inhabitants. For the last several decades, this huge population has been in flux: fertility has fallen sharply, mortality has declined, and massive rural-to-urban migration is taking place. The state has played a direct role in these changes, seeing population control as an important part of its intention to modernize the country. In this insightful new work, Nancy E. Riley argues that Chinas population policies and outcomes are not simply imposed by the state onto an unresponsive citizenry, but have arisen from the social organization of China over the past sixty years. Riley demonstrates how Chinas population and population policy are intertwined and interact with other social and economic features. Riley also examines the unintended consequences of state directives, including the extraordinary number of missing girls, the rapid aging of the population, and an increase in inequality, particularly between rural and urban residents. Ultimately, Chinas demographic story has to be understood as a complex, multi-pieced phenomenon. This book will be essential reading for researchers and students of China and social demography, as well as non-specialists interested in the changing nature of China?s population.
China is home to a fifth of the worlds inhabitants. For the last several decades, this huge population has been in flux: fertility has fallen sharply, mortality has declined, and massive rural-to-urban migration is taking place. The state has played a direct role in these changes, seeing population control as an important part of its intention to modernize the country. In this insightful new work, Nancy E. Riley argues that Chinas population policies and outcomes are not simply imposed by the state onto an unresponsive citizenry, but have arisen from the social organization of China over the past sixty years. Riley demonstrates how Chinas population and population policy are intertwined and interact with other social and economic features. Riley also examines the unintended consequences of state directives, including the extraordinary number of missing girls, the rapid aging of the population, and an increase in inequality, particularly between rural and urban residents. Ultimately, Chinas demographic story has to be understood as a complex, multi-pieced phenomenon. This book will be essential reading for researchers and students of China and social demography, as well as non-specialists interested in the changing nature of Chinas population.
This timely book reviews the changes in legal reform around the constitutional protection of private property in China since 1949. Using a comparative approach, it analyses the development of property theories and the various constitutionalisation models and practices of private property in representative countries including the United States, Canada, Germany, India and China. It also explores the interwoven social forces that have been driving the evolution of the constitutional protection of private property in China. By comparing China with the United States, Germany and India, the author reveals the unfairness, unjustness and insufficiency in China's application of three constitutional doctrines – public use, just compensation and due process or procedure. The book concludes by predicting future progress and suggests feasible measures for gradual reform that will be compatible with China's existing political system.
The author believes that any attempt to interpret and affect public policies should be grounded in an understanding of how policies are actually made and implemented. Viewing the policy cycle as a changing entity, this book sets out to explore and make sense out of the policy process maze through the case study of pension policies for rural migrant worker in China. In return, this case study can explain and advance the original policy process model in the wider context of China. This book contributes novel insights and concepts into understanding the dynamics of the policy making process and the contents of the policy products in terms of the public old-age pension provisions for China's rural migrant workers.
The current demographic shift of the Kenya ageing population, stress an increasing demand for pension schemes in all employment sectors. Unlike Kenya all over the world there have been pension reforms to arrest this population trend since it threatens the sustainability of the country?s economy. The laws currently governing the pension industry do not encourage mandatory setting up of pension scheme by registered companies, small-scale enterprises and any other organisation in Kenya. Currently we have very many company and registered organisation that do not have retirement benefits plan or any other old age saving for the current employed workforce. This creates a risk of having future old age population that is dependant to the working population. For the purpose of this research I am cross examining at the various types of pension scheme in Kenya particularly the private pension scheme and the growth of the pension funds over a given period. Furthermore, this research project also examines the current private sector employee and expected future growth modelled based on generalized linear model.
Saving for old age is necessary for a decent financial independence in the future. Pension Reforms in developing countries are hard and long processes, but highly compulsory. People's myopic saving behavior can result in low social welfare in the future. Pension Systems are created to help prevent old age poverty. But, similar to other public policies, pensions are no exception to flaws, and as such they should be constantly remodeled to fit people's needs.
Will Germany seize to exist and be populated by other countries because its population is shrinking constantly? Or will it develop to a home for old people and old people only? What are the consequences of the demographic development for the different generations? These are questions that worry Germany’s population. The demographic development in Germany is unique on a world wide scale and there are no other countries that went through a process to a similar extent before. Germany is one of the countries with the quickest demographic aging process worldwide. Until 2060, the population will decrease from now approximately 82 million to roughly 65 million people. The decrease in population and the simultaneous aging of Germany’s population will have consequences on different areas, such as the pension and the health insurance system, the labour market and private consumption among others. This book presents reasons for the past demographic developments and draws conclusions for the future. Several solutions do exist, but time is running out.
Zouping in Transition – The Process of Reform in Rural North China (Paper)