1,721,006 research outputs found
Exemplification of the condition for the β(t) indicator's stabilisation for pension system sustainability
No full textThe main goal of this work is to provide numerical exemplification of application of the condition for the β(t) indicator's stabilisation for the sustainability of defined contribution pension systems with a funded structural component, see Angrisani (2006, 2008). For this purpose, a consistent actuarial model is provided and it is used to study the sustainability under hypotheses of general stabilisation of the pension system and costant contribution rate.The main goal of this work is to provide numerical exemplification of application of the condition for the β(t) indicator's stabilisation for the sustainability of defined contribution pension systems with a funded structural component, see Angrisani (2006, 2008). For this purpose, a consistent actuarial model is provided and it is used to study the sustainability under hypotheses of general stabilisation of the pension system and costant contribution rate
A new analysis methodology for pension system sustainability
No full textThis work analyses pension system sustainability in
the light of a new methodology (Angrisani, The logical
sustainability of the pension system, 2008), which
pertains to defined contribution pension systems
provided with a funded component.
A necessary and sufficient condition of the
sustainability obtained in this methodological context
is illustrated numerically. As regards sustainability our
results show the key role of a specific variable of
state, namely the level of unfunded contribution rate,
whose definition is strictly connected to the part of
pension liability that is not covered by system assets.This work analyses pension system sustainability in
the light of a new methodology (Angrisani, The logical
sustainability of the pension system, 2008), which
pertains to defined contribution pension systems
provided with a funded component.
A necessary and sufficient condition of the
sustainability obtained in this methodological context
is illustrated numerically. As regards sustainability our
results show the key role of a specific variable of
state, namely the level of unfunded contribution rate,
whose definition is strictly connected to the part of
pension liability that is not covered by system assets
Managing the Baby Boomer Demographic Wave in Defined Contribution Pension Systems
No full textIn the forthcoming decades, the problem of baby boomer retirement will put
pressure on the sustainability of social security systems in a large number of countries in the
world. We refer to this phenomenon as a demographic wave problem and in this paper we
propose an operating method, developed on the basis of a general principle, which allows us
to manage the issues of sustainability and intergenerational equity that arise when the demographic
wave disrupts the demographic, economic, and financial stability of a defined contribution
pension system. This principle overcomes the classical juxtaposition between the two
alternative schemes of financial management of a pension system, funded or pay-as-you-go.
Indeed, our approach shows that only the unmanageable pay-as-you-go part of the pension
system, namely the group of individuals of the demographic wave, needs to be fully funded
and not the whole pension system as is argued in the existing literature.In the forthcoming decades, the problem of baby boomer retirement will put
pressure on the sustainability of social security systems in a large number of countries in the
world. We refer to this phenomenon as a demographic wave problem and in this paper we
propose an operating method, developed on the basis of a general principle, which allows us
to manage the issues of sustainability and intergenerational equity that arise when the demographic
wave disrupts the demographic, economic, and financial stability of a defined contribution
pension system. This principle overcomes the classical juxtaposition between the two
alternative schemes of financial management of a pension system, funded or pay-as-you-go.
Indeed, our approach shows that only the unmanageable pay-as-you-go part of the pension
system, namely the group of individuals of the demographic wave, needs to be fully funded
and not the whole pension system as is argued in the existing literature
The effect of weight loss on endothelial functions in obesity: response to Sciacqua et al
No full textThe Leslie model and population stability: an application
No full textIn many countries with high socio-economic development, demographic trends highlight
meaningful changes in the population structure and size especially due to the joined effects of declining
fertility rates and increasing life expectancies, particularly at older ages. This phenomenon leads mainly to a
drastic increase in the ratio of the elderly to the young active population and undermines the welfare
systems. Specifically, it puts hard pressure on pension systems where the current expenditure is paid by the
current contributions in the light of a pay-as-you-go financing because it occurs that the former is increasing
and the latter is decreasing due to the afore-said phenomenon.
In this paper, first we analyse the population forecast of five high-income countries on the basis of the
current values of fertility rates and survival probabilities. We apply the Leslie model in a form elaborated by
one of the authors in a previous article written in collaboration. Our findings confirm that the considered
populations numerically decrease according to the value of the Leslie dominant eigenvalue lower than one,
while the percentage distribution by age stabilises itself proportionally to the Leslie dominant eigenvector.
The structure of this distribution indicates the afore-said “reversal” of the ratio of the elderly to the young
population.
Therefore, also consistently with the criterion of Brauer-Solow, we estimate the adjustment rate of the
fertility rates at all ages in the female Leslie matrix so that the dominant eigenvalue is equal to one and thus
the population tends to stabilise in its size in addition to its percentage distribution by age. As it is clear, this
adjustment also involves a change in the Leslie dominant eigenvector and a realignment of the ratio of the
elderly to the young population on lower values.In many countries with high socio-economic development, demographic trends highlight
meaningful changes in the population structure and size especially due to the joined effects of declining
fertility rates and increasing life expectancies, particularly at older ages. This phenomenon leads mainly to a
drastic increase in the ratio of the elderly to the young active population and undermines the welfare
systems. Specifically, it puts hard pressure on pension systems where the current expenditure is paid by the
current contributions in the light of a pay-as-you-go financing because it occurs that the former is increasing
and the latter is decreasing due to the afore-said phenomenon.
In this paper, first we analyse the population forecast of five high-income countries on the basis of the
current values of fertility rates and survival probabilities. We apply the Leslie model in a form elaborated by
one of the authors in a previous article written in collaboration. Our findings confirm tha
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Long-term effect of mediterranean-style diet and calorie restriction on biomarkers of longevity and oxidative stress in overweight men
No full textEffects of surgical menopause and estrogen replacement therapy on atrio-ventricular conduction and ventricular repolarization.
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