An introduction to pensionomics

Purpose: The purpose of this paper is to explore the concept of pensionomics as a prospective tool for pension evaluation. This paper suggests a paradigm shift ? a multi-disciplinary synthesis of differingperspectives in evaluating pension?s overall performance based on past work on pension evaluation ? incorporating non-economic variables with significant impact on economic growth and social development. Design/methodology/approach ? This paper suggests a new analytical tool called ?Pensions Consistency (PC) Index? that identifies the level of consistency and the strengths and weaknesses within any pension system. The new conceptual framework focusses on building inter-sectoral and holistic policies able to respond to the new multi-dimensional dynamic environment. Findings ? The consideration of pensionomics concept as an evaluation tool for pension schemes provides insights that are helpful in explaining performance differentials. Taking definition classification and evaluation as a guiding principle the new conceptual framework can be a useful point of reference for the overall evaluation of pension schemes revealing deficiencies that traditional evaluation methods cannot detect. The multi-disciplinary approach focusses on building inter-sectoral and holistic policies that are able to respond to the multi-dimensional uncertainties of the new dynamic environment. Research limitations/implications ? The heterogeneity and complexity in event dynamics are systemic in the sense that the impact is far from linear. The idiosyncratic nature of unexpected and?unpredictable events is rather a result of multi-dimensionality based among others on magnitude frequency timing intensity and impact. It is plausible to argue that crisis episodes can destabilize critical systems of economic activity producing economic spillovers that can directly or indirectly affect the sustainability of pension schemes. If the calculation of direct economic impact is readily traceable the estimation of indirect economic impact can be an onerous task. Practical implications ? Pensionomics places the concept of retirement in a multi-disciplinary context. Pensionomics overcomes theoretical and empirical limitations encountered by the path-dependency perspective developing a new research agenda to study pension schemes under historical cultural social political economic political and environmental prism. Integrating diversified data techniques perspectives and concepts pensionomics? objective is to connect natural and man-made events with social protection mechanisms for the development of a dynamic social protection framework where individual community andsociety needs are met effectively and efficiently by implementing tailored policies closely related to their specific context. Social implications ? The concept of retirement has evolved constantly transforming societies and shaping both income and non-income dimensions of well-being. Pension entitlement turned gradually from a political discourse to a human right discourse. Pension schemes have extended the scope of insurance coverage beyond labour markets and the lifecycle supporting the broader needs of entire population. Furthermore pension schemes are widely acknowledged as drivers of economic growth: they enhance labour productivity; foster smooth consumption; and create a stable economic environment for investment and innovation. Current expectations require pension schemes to adopt proactive and reactive policies to examine options for mitigation or for modification of potential consequences in anticipation of exceptional events. Originality/value ? This paper suggests a paradigm shift a multi-disciplinary approach called pensionomics and this ?multi-disciplinary? focus builds a new analytical framework to evaluate pension?soverall performance based on past work on pension evaluation incorporating non-economic variables with significant impact on economic growth and social development. PC-Index introduces a comprehensiveevaluation tool to study the coverage performance efficiency? ffectiveness current trends and future possibilities of pension schemes.Objetivo: El prop?sito de este art?culo es explorar el concepto de "pension?mica" como una herramienta prospectiva para la evaluaci?n de pensiones. Este documento sugiere un cambio de paradigma una s?ntesis multidisciplinaria de diferentes perspectivas en la evaluaci?n del desempe?o general de las pensiones basado en el trabajo anterior en la evaluaci?n de pensiones incorporando variables no econ?micas con un impacto significativo en el crecimiento econ?mico y el desarrollo social.Dise?o/metodolog?a/enfoque - Este documento sugiere una nueva herramienta anal?tica llamada ??ndice de coherencia de pensiones (PC)? que identifica el nivel de consistencia y las fortalezas y debilidades dentro de cualquier sistema de pensiones. El nuevo marco conceptual se centra en la construcci?n de pol?ticas intersectoriales y hol?sticas capaces de responder al nuevo entorno din?mico multidimensional.Hallazgos - La consideraci?n del concepto de "pension?mica" como una herramienta de evaluaci?n para los planes de pensiones proporciona informaci?n ?til para explicar los diferenciales de rendimiento. Tomando la definici?n la clasificaci?n y la evaluaci?n como principio rector el nuevo marco conceptual puede ser un punto de referencia ?til para la evaluaci?n general de los planes de pensiones revelando deficiencias que los m?todos de evaluaci?n tradicionales no pueden detectar. El enfoque multidisciplinario se centra en la construcci?n de pol?ticas intersectoriales y hol?sticas que sean capaces de responder a las incertidumbres multidimensionales del nuevo entorno din?mico.Limitaciones/implicaciones de la investigaci?n - La heterogeneidad y complejidad en la din?mica de eventos son sist?micas en el sentido de que el impacto est? lejos de ser lineal. La naturaleza idiosincr?sica de los eventos inesperados e impredecibles es m?s bien el resultado de la multidimensionalidad basada entre otros en la magnitud frecuencia tiempo intensidad e impacto. Es plausible argumentar que los episodios de crisis pueden desestabilizar los sistemas cr?ticos de la actividad econ?mica produciendo desbordamientos econ?micos que pueden afectar directa o indirectamente la sostenibilidad de los planes de pensiones. Si el c?lculo del impacto econ?mico directo es f?cilmente rastreable la estimaci?n del impacto econ?mico indirecto puede ser una tarea onerosa.Implicaciones pr?cticas - La "pension?mica" coloca el concepto de jubilaci?n en un contexto multidisciplinario. La "pension?mica" supera las limitaciones te?ricas y emp?ricas encontradas por la perspectiva de la dependencia del camino desarrollando una nueva agenda de investigaci?n para estudiar los esquemas de pensiones bajo un prisma hist?rico cultural social pol?tico econ?mico pol?tico y ambiental. Integrando datos t?cnicas perspectivas y conceptos diversificados el objetivo de la "pension?mica" es conectar eventos naturales y creados por el hombre con mecanismos de protecci?n social para el desarrollo de un marco din?mico de protecci?n social donde las necesidades individuales comunitarias y de la sociedad se satisfagan de manera efectiva y eficiente mediante la implementaci?n personalizada de pol?ticas estrechamente relacionadas con su contexto espec?fico.Implicaciones sociales - El concepto de jubilaci?n ha evolucionado constantemente transformando las sociedades y dando forma a las dimensiones de bienestar tanto de ingresos como de no ingresos. El derecho a pensi?n pas? gradualmente de un discurso pol?tico a un discurso sobre los derechos humanos. Los planes de pensiones han ampliado el alcance de la cobertura de seguro m?s all? de los mercados laborales y el ciclo de vida apoyando las necesidades m?s amplias de toda la poblaci?n. Adem?s los planes de pensiones son ampliamente reconocidos como motores del crecimiento econ?mico: mejoran la productividad laboral; fomentan un consumo suave; y crean un entorno econ?mico estable para la inversi?n y la innovaci?n. Las expectativas actuales requieren que los planes de pensiones adopten pol?ticas proactivas y reactivas para examinar las opciones de mitigaci?n o modificaci?n de posibles consecuencias en previsi?n de eventos excepcionales.Originalidad/valor - Este documento sugiere un cambio de paradigma un enfoque multidisciplinario llamado "pension?mica" y este enfoque "multidisciplinario" crea un nuevo marco anal?tico para evaluar el desempe?o general de las pensiones basado en el trabajo anterior en la evaluaci?n de pensiones incorporando variables no econ?micas con un impacto significativo en el crecimiento econ?mico y el desarrollo social. PC-Index presenta una herramienta de evaluaci?n integral para estudiar la cobertura el rendimiento la eficiencia la efectividad las tendencias actuales y las posibilidades futuras de los planes de pensiones

The Mega Distributed Lag Model

This paper attempts to describe the graphical behavior of the distributed lag model in an infinite coordinate space. The "mega distributed lag model" (MDL) is a mathematical framework that can examine the simultaneous interrelationships between all involved variables. The multidimensional graphical setting simultaneously reveals all non-linear exposure-response dependencies and delayed effects between lagged and dependent variables-which two-dimensional figures overwhelmingly fail to capture. Under the Omnia Mobilis assumption, each distribution lag function is indexed with respect to time and space. The Mega distributed lag model observes multiple trends in full motion, the final output (determinant) of which is called "the JIM-coefficient". Hence, this paper tries to analyze different approaches of lag distribution models that can help in the construction of our new model. The mega distributed lag model" (MDL) is moving from the uses of the classic 2-dimensional and 3-dimensional graphical modeling to a multidimensional graphical modeling in Econometrics. Finally, this model is an extension of those explored earlier in the field of econographicology

The economic Gordian Knot of Brexit: an East and Southeast Asian perspective

The objective of this paper is to establish conceptual foundations of analyzing the economic dimensions of Brexit. The International Financial-Trade Exchange Leaking Index (TIFTEL-Index) attempts to analyze and compare pre-Brexit versus post-Brexit international trade and international financial transactions between East and Southeast Asia and Europe. TIFTEL-index is based on three main variables, namely (1) international trade exchange marginal rate (∆Τ′), (2) international financial exchange marginal rate (∆σ′), and (3) GDP in real prices growth marginal rate (∆γ). Simulation findings indicate that Brexit will have only a limited negative effect on the world economy. In addition, Brexit will affect East Asia more than Southeast Asia region. © 2019, Springer Nature B.V

Stagpression: The economic and financial impact of the COVID-19 pandemic

This paper formulates an analytical framework to understand the spatiotemporal patterns of epidemic disease occurrence, its relevance, and implications to financial markets activity. The paper suggests a paradigm shift: a new multi-dimensional geometric approach to capture all symmetrical and asymmetrical strategic graphical movement. Furthermore, it introduces the concept of stagpression, a new economic phenomenon to explain the uncharted territory the world economies and financial markets are getting into. The Massive Pandemic Contagious Diseases Damage on Stock Markets Simulator (φ-Simulator) to evaluate the determinants of capital markets behavior in the presence of an infectious disease outbreak. The model investigates the impact of Covid-19 on the performance of ten stock markets, including S&P 500, TWSE, Shanghai Stock Exchange, Nikkei 225, DAX, Hang Seng, U.K.-FTSE, KRX, SGX, and Malaysia-FTSE