Positive or Negative Policy Feedbacks? Explaining Popular Attitudes Towards Pragmatic Pension Policy Reforms

2012 ◽  
Vol 29 (4) ◽  
pp. 803-815 ◽  
Author(s):  
J. J. Fernandez ◽  
A. M. Jaime-Castillo
Keyword(s):  
Pension Policy ◽  
Policy Reforms

Using a stochastic economic scenario generator to analyse uncertain superannuation and retirement outcomes

2020 ◽  
pp. 1-18
Author(s):  
Wen Chen ◽  
Bonsoo Koo ◽  
Yunxiao Wang ◽  
Colin O’Hare ◽  
Nicolas Langrené ◽  
...  
Keyword(s):  
Probabilistic Approach ◽  
Developed Countries ◽  
Investment Model ◽  
Defined Benefit ◽  
Defined Contribution ◽  
Pension Policy ◽  
Policy Reforms ◽  
Uncertain Future ◽  
Retirement Systems ◽  
Scenario Generator

Abstract The retirement systems in many developed countries have been increasingly moving from defined benefit towards defined contribution system. In defined contribution systems, financial and longevity risks are shifted from pension providers to retirees. In this paper, we use a probabilistic approach to analyse the uncertainty associated with superannuation accumulation and decumulation. We apply an economic scenario generator called the Simulation of Uncertainty for Pension Analysis (SUPA) model to project uncertain future financial and economic variables. This multi-factor stochastic investment model, based on the Monte Carlo method, allows us to obtain the probability distribution of possible outcomes regarding the superannuation accumulation and decumulation phases, such as relevant percentiles. We present two examples to demonstrate the implementation of the SUPA model for the uncertainties during both phases under the current superannuation and Age Pension policy, and test two superannuation policy reforms suggested by the Grattan Institute.

Variegated financialization and pension fund asset demand: the case of Colombia and Perú

2020 ◽  
Author(s):  
Bruno Bonizzi ◽  
Jennifer Churchill ◽  
Diego Guevara
Keyword(s):  
Emerging Economies ◽  
Pension Fund ◽  
Financial Integration ◽  
Recent Literature ◽  
Pension Policy ◽  
Policy Reforms ◽  
Comparative Political Economy ◽  
Growth Regime ◽  
Domestic Capital ◽  
Asset Demand

Abstract This article seeks to explain concretely how one ‘variegation’ of financialization in the emerging economy setting is being shaped by the growth of domestic pension funds. Taking Colombia and Perú as case studies, we explore the evolution of pension fund demand subsequent to substantial pension policy reforms in the 1990s. Drawing on comparative political economy and the recent literature on subordinate financialization in emerging economies, we present a three-tiered conjecture regarding what is shaping pension fund demand: (a) the particular institutional context of ‘hierarchical market economies’ and neoliberal market reforms, (b) the ‘extraverted’ growth regime and (c) subordinate financial integration. The resulting demand calls forth financial innovation and movement towards market-based financial mechanisms as seen with financialization elsewhere, yet in this instance occurring largely outside of domestic capital markets.

Impact of crude oil price on the socio-political environment of global countries

2019 ◽  
Vol 118 (3) ◽  
pp. 110-122
Author(s):  
Johnson Clement Madathil ◽  
Velmurugan P. S
Keyword(s):  
Crude Oil ◽  
Descriptive Analysis ◽  
Oil Price ◽  
Policy Framework ◽  
Political Environment ◽  
Policy Reforms ◽  
Crude Oil Price ◽  
Short Term ◽  
Political Impact ◽  
New Energy

Crude oil is known to have an impact on people’s life of both producers and consumers of crude oil countries. A producer country’s socio-political impact will be different from a consumer country’s socio-political impact. This paper aims to show that crude oil price has a socio-political impact on global countries through descriptive analysis. The study found that there were similarities in the movement of crude oil price and change in GDP of both India and United States and further Russia and Venezuela have had crude oil impact on their respective GDP’s, which has made them take policy reforms. The paper identifies changes in the policy framework due to influence of crude oil price and eventual changes in existing socio-political environment. Taking oil producing countries such as Russia and Venezuela as examples, this paper suggests that policy reforms are the key to having a stable socio-political environment. Russia shows us that having a flexible monetary policy can keep the budget dependence on crude oil reduced in the short term. On the other hand, for oil consuming countries, having a stable supply and moving to new energy sources is the key to tackle the influence of crude oil price on the socio-political environment of global countries.

Pension Policy Challenges and Communication Solutions

2017 ◽  
Author(s):  
Nikolett Mihály ◽  
Nándor Komáromi
Keyword(s):  
Pension Policy
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