1,746 research outputs found
Pre-Pension Savings out of Housing Wealth: a Comparative Study of Italy and the Netherlands
No full text22. Becoming self-employed at ages 50+: true entrepreneurship or exclusion from (wage-)employment?
No full textStaggered wages, unanticipated shocks and firms’ adjustments
No full textThis paper empirically investigates the employment and wage effects of contract staggering, i.e., the asynchronous and infrequent way in which wages adjust to changes in the economic environment. Using an identification strategy based on exogenous start dates of collective agreements around the Great Recession, we estimate the effect of increases in base wages on firms’ labor cost adjustments. Our analysis is based on a large employers-employees dataset merged to collective agreements in the Netherlands, a country in which collective bargaining is dominant and contract staggering is relatively pervasive. The main result is that staggered wage setting has no real effect on employment. We find significant employment losses only in sectors covered by contracts with much longer durations than those normally assumed in macroeconomic models featuring staggered wages. Instead, we show that firms adjust labor costs by curbing other pay components such as bonuses and benefits and incidental pay. The overall result supports the idea that wage rigidities are not the main source of employment fluctuations
Broken promises? Trust and pension savings in turbulent times
No full textUsing survey data on household savings and trust, we investigate the determinants of trust in one’s pension fund and its effect on the decision to build up additional retirement savings. Key in our approach is the realization that trust in itself may respond to the usage of additional savings instruments, through learning, experience, and information acquisition, for instance. We therefore use an instrumental variables approach, based on exogenous shocks arising from pension cuts and indexation. We also account for the potential spurious relation between funds’ equity and trust, that could arise in a period of financial crisis. We do so using information on fund size, as this is an important proxy for funds’ economies of scale. These instruments allow identifying the unbiased effect of trust in pension funds on participation in voluntary pension saving plans. We disentangle the effects of age, birth cohort, and time in the determination of trust, and counter previous findings of a positive age gradient with trust. This implies that in the future the level of trust in pension funds will decline. Our main result is to find a positive effect of trust on additional pension savings
Conversations with Cabrera: Mauro Guillén
No full textPresented online January 26, 2021, 3:00 p.m.-4:00 p.m.Conversations with Cabrera are unscripted and informal, unearthing leadership’s thinking behind the big ideas taking shape across the Institute and trends likely to define our future. This video series is meant to capture candid conversations between President Ángel Cabrera and thought leaders across Georgia Tech and beyond.Ángel Cabrera, President, Georgia Institute of Technology, Atlanta, GA.Mauro Guillén, Zandman Professor at the Wharton School of the University of Pennsylvania and director of the Penn Lauder Center for International Business Education and Research (CIBER).Runtime: 56:53 minutesPresident Ángel Cabrera in conversation with author and educator Mauro Guillén. They discuss the themes of Guillén's book, 2030: How Today's Biggest Trends Will Collide and Reshape the Future of Everything. Mauro Guillén’s bestselling book 2030 is both a remarkable guide to the coming changes and an exercise in the power of “lateral thinking,” thereby revolutionizing the way you think about cataclysmic change and its consequences
Home and Mortgage Ownership of the Dutch Elderly: Explaining Cohort, Time and Age Effects
No full textThe relationship between home ownership of Dutch elderly households and age is strongly negative. Other studies suggest that this age gradient should be attributed to a cohort effect. In this paper we investigate where those cohort effects come from. We also observe that mortgage ownership among elderly home-owners increased considerably during the nineties. Using panel data we estimate models explaining home and mortgage ownership by age, cohort, and time effects, as well as other factors. Cohort and time effects are modelled explicitly using macro economic and housing market related variables. We find that the level of GDP per capita when the household head was young is the main factor explaining generation effects in home ownership among the elderly. After accounting for cohort effects it also appears that home ownership decreases slightly with age. Mortgage ownership among elderly home owners rose considerably during the nineties due to house price increases and due to financial innovation in the mortgage market. Cohort effects are also important. A supplementary analysis suggests that those cohort effects are due to the fact that the accidental bequest motive is becoming less important.home ownership, mortgages, cohort effects
No Europe without Brussels: The Berlaymont Building and the Development of the Léopold Area
No full textEurope and Brussels had a mutual dependency from the founding of the European Communities. This article explores the historic relation between local urban and the transnational development of post-war Europe. It ultimately raises the question to what extent there exists a dialogue between various actors involved to actively design and build the image of Europe in Brussels.Green Open Access added to TU Delft Institutional Repository 'You share, we take care!' - Taverne project https://www.openaccess.nl/en/you-share-we-take-care. Otherwise as indicated in the copyright section: the publisher is the copyright holder of this work and the author uses the Dutch legislation to make this work public.History, Form & Aesthetic
Trust in the Financial Performance of Pension Funds, Public Perception, and its Effect on Participation in Voluntary Pension Saving Plans
No full textWe investigate the determinants of trust in one’s pension fund and the effect of trust on the decision to ensure additional pension savings. Our analysis is based on exogenous shocks arising from pension cuts and indexation, and on how these are perceived. These instruments allow identifying the effect of trust in pension funds on participation in voluntary pension saving plans. We disentangle the effects of age, birth cohort, and time in the determination of trust, and counter previous findings of a positive age gradient with trust. This implies that in the future the general level of trust in pension funds will decline. This study also finds a positive effect of trust on additional pension savings. Hence, the positive correlation found in previous studies can be interpreted as causal. Lastly, we contribute to the current debate on self-employment and retirement preparation. Our findings suggest that the decision to become self-employed and to arrange one’s own pension savings is likely not driven by the desire to exit the occupational pension system, as those who make additional pension savings arrangements — including self-employed workers — in fact trust their pension fund
Between La Tendenza and Neoliberty: Mauro Baracco Goes to Australia
No full textDiscussion of various relationships between Italian postmodern architecture (including works by Aldo Rossi, Gianni Braghieri and Gabetti&Isola), Australian postmodern architecture (including Edmond&Corrigan and Robin Boyd among others), and theoretical and design approach undertaken by the author (Mauro Baracco) as both a practitioner (director of Baracco+Wright Architects, Melbourne) and an academic (Associate Professor in Architecture and Urban Design, RMIT University, Melbourne)
Did you really save so little for your retirement? An analysis of retirement savings and unconventional retirement accounts
No full textWe use a confirmatory factor analysis to study the relation between the importance of a broad spectrum of saving motives, such as saving for retirement, and saving behavior. Survey data show that many respondents save for retirement in unconventional retirement accounts, such as investments in real estate. We show that finding the retirement motive important does not directly translate in additional retirement savings. We show that the annuity stream generated by conventional and unconventional accounts from age 65 onwards is small and that most savings are residual and are not being put aside for a specific motive. Also self-employed retirement savings are low, even though this group has generally no occupational pension.
- …
