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At least 19 recordsLinked to original sources
PubMedDate not supplied

The importance of remittances for the level and distribution of economic well-being in Lesotho.

"Using the 1986/87 Household Budget Survey of Lesotho, we measure the extent of inequality, identify the determinants of economic well-being and decompose total inequality by population subgroups. The results show large inequality in economic well-being. Many households in Lesotho are heavily dependent on miners' remittances from the Republic of South Africa. In the study we quantify their effects on the level of well-being and the extent of inequality. It is concluded that remittances decrease inequality in Lesotho."

Africa↗
PubMed1988

Temporary vs. permanent migration: a decision theoretical approach.

"The decision problem of the guest worker as a target saver is considered. He plans to accumulate capital in the host country for investment in the home country after return migration. As the worker is supposed to be incompletely informed about the economic variables in the host country he might prolong his stay unexpectedly provided the economic conditions in the host country are unfavourable. Explicit conditions for the economic variables are given such that temporary migration turns into permanent migration."

Behavior↗
PubMed1992

Changes in wealth in the United States, 1962-1983: savings, capital gains, inheritance, and lifetime transfers.

"A simulation model is developed to account for observed changes in mean household wealth both overall and by age cohort over the 1962-1983 period in the United States. There are three major findings. First, capital gains are the major factor explaining overall wealth changes and account for 77% of the simulated growth in wealth over the entire period. Second, for cohorts under age 40, inheritance and inter vivos transfers dominate observed changes in wealth....Third, while differences in portfolio composition favored the younger cohorts over this period, such differences do not explain a large portion of the great variation in real wealth changes by cohort over the two decade period."

Age Factors↗
PubMed1994

Workers remittances and the real exchange rate: a quantitative framework.

"Workers' remittances represent a sizeable component of international trade flows in goods and services. The paper tries to assess to what extent workers remittances are responsive to key macroeconomic variables.... Econometric estimation of a remittance equation for a sample of five Mediterranean countries indicates that the real exchange rate is indeed a significant determinant of remittances."

Commerce↗
PubMed1991

The marginal cost of public funds with an aging population.

"As populations in the United States and other advanced economies grow older, the burden of social security and health care financing is expected to rise markedly. Payroll, income, and other taxes on working populations are projected to rise accordingly. The marginal welfare cost to workers of social security and other public expenditures is analyzed within the context of a two-period life cycle model. By relaxing separability assumptions that have become common in the literature, the theoretical structure properly incorporates the effect of these public expenditures on labor supply. Comparative statics results indicate that changing age structure is likely to raise the marginal welfare to workers of social security, education, and other public expenditures. Illustrative calculations for the United States confirm this result, suggesting that the cost to workers of incremental social security benefits may easily double by 2025-2050."

Age Distribution↗
PubMed1991

Optimal pension funding with demographic instability and endogenous returns on investment.

"This paper tries to explore some optimal funding policies for pension systems in a general equilibrium setting where funding affects returns on investment and wages through its impact on capital formation. This is done in the context of irregular demographic evolutions such as those expected in developed countries for the next century. Particular attention is given to the intergenerational welfare criterion which is used for designing optimal policies.... We will first present the model for the pension system and the economy and discuss a general one-parameter form for the intergenerational utility function. We will then present the simulated optimal paths for different numerical specifications of the model and the utility function. The last section will show by how much a simpler policy with fixed transfers and purely individual funding can depart from optimal paths...."

Developed Countries↗
PubMed1991

Public pensions in transition: an optimal policy path.

"The main purpose of this paper is to analyze problems of financing an old-age insurance when birth rates are low and population declines or fertility fluctuates with time....[The author] investigates a theoretical model which analyzes the welfare optimal combination of private savings via the capital market and the state forced savings via a PAYG [pay-as-you-go] financed public pension system. Long-run effects as well as short-run implications are considered. The economic properties of an optimal steady state are determined and additionally an optimal transition path--the best feasible conversion policy--which leads to the new steady state is specified."

Demography↗
PubMed1995

Social security and strategic inter-vivos transfers of social capital.

"This paper explains public provision of social capital in an overlapping generations model with 'gerontocracy', without resort to any bequest motive. The old generation has an incentive to provide education and infrastructure because these goods shift the Laffer curve of social security taxation, thereby increasing old-age income in the political equilibrium. The incentive is stronger if population growth is larger. The marginal productivity of social capital in the political equilibrium may exceed or fall short of the marginal productivity of social capital in an efficient allocation."

Demography↗
PubMed1990

Capital accumulation, endogenous population growth, and Easterlin cycles.

"In this paper we attempt to explain the occurrence of population cycles in industrialised economies where the birth rate depends on the difference between the actual and the expected consumption rate. This model of an endogenously growing population brings together Easterlin's idea of an adapting aspiration level with the neoclassical optimal growth paradigm. It is shown that in this highly aggregated demo-economic system (i.e., without inclusion of the age structure of a population) swings both in the economic and demographic variables may exist. The reason behind this 'strange' optimal behaviour is identified to be an intertemporal substitution effect between current and future levels of consumption."

Birth Rate↗
PubMed1990

Transfers to the old, government debt and demographic change.

"In this paper we take the view that policy makers...take the relationship between (explicit) intergenerational transfer systems (including public pension schemes) and government deficits into account. It is assumed that policy makers are behaving altruistically towards past and future generations. Given the behavioral model, an analysis is made of the effects of demographic changes (such as the 'baby-boom' of the 1940s and 1950s and the decline of birth rates in the 1970s) on the decisions to be taken with respect to the tax rate of the public pension system and the size of government debt. From the analysis it appears that, with the assumption of altruistic decision-makers, periods of increasing or decreasing debt can occur alternately in periods of demographic change." The geographical focus is on developed countries.

Behavior↗
PubMed1995

Aging trends--Hong Kong.

Aspects of demographic aging in Hong Kong are examined in this study. "By regional standards, many of Hong Kong's 1992 population of 5.9 million have a good standard of living and adequate housing. However, there are considerable discrepancies in wealth and well-being; elderly people are not always financially secure, and there are growing difficulties in maintaining the oft-cited mode of family care for elderly members. Hong Kong is a rapidly aging society and it is essential to see this process in the context of local and regional socioeconomic change and the future political linkages of the territory with China."

Adult↗
PubMed1995

Aging trends--Singapore.

"Three major inter-related issues have emerged concerning population aging in Singapore. The first two concerns are whether aging will increase dependency on the state for welfare and financial assistance and whether traditional family caring structures will survive and provide the care deemed necessary in the future. The third concern focuses on the potential impact of population aging on Singapore's future economic growth and development....A national policy on elderly persons has been formulated since 1989 and focuses on four main areas: employment of elderly people in the workforce; attitudes towards elderly people; community care; and residential care."

Adult↗