Gesundheitszustand und Erwerbsminderungsrenten

Disability insurance - the insurance against the loss of the ability to work - is a substantial part of social security expenditures in many countries. The benefit recipiency rates in disability insurance vary strikingly across European countries and the US. This paper investigates the extent of, and the causes for, this variation, using econometric analyses based on new data from SHARE, ELSA and HRS. We show that even after controlling for differences in the demographic structure and health status these differences remain. This holds for a broad set of objective and subjective physical and mental health measures as well as for contemporal, intertemporal and life-course specifications of health, including measures of childhood health. In turn, indicators of disability insurance generosity explain 75% of the cross-national variation. We conclude that it is not health but the country-specific design of early retirement and labor market institutions, and especially disability insurance rules, which explain the observed cross-country variation in the receipt of disability benefits

Female labour force participation, fertility and public policy in Sweden

This paper analyzes the role of public policy for Sweden's combination of high female labour force participation and high levels of fertility in the late 1980s and early 1990s. We present the central elements in the tax and family policies and use a disaggregated approach to assess their impact on Swedish fertility and female labour force participation. We show that these policies stimulate both fertility and women's paid work by reducing the costs of having children while requiring parents to be employed to collect full benefits. Cet article analyse le rôle des politiques sur le lien entre une forte participation féminine au marché du travail et de hauts niveaux de fécondité en Suède, à la fin des années 1980 et au début des années 1990. Nous présentons d'abord les principaux éléments des politiques fiscales et parentales. Puis nous utilisons une approche désaggrégée pour mettre en évidence leur impact sur la fécondité suédoise et la participation féminine au marché du travail. Nous montrons que ces politiques stimulent à la fois la fécondité et le travail féminin rémunéré en réduisant les coûts en vue d'élever les enfants tout en demandant aux parents d'être actifs pour en recueillir les pleins bénéfices.Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/42731/1/10680_2005_Article_BF01797210.pd

Going Beyond Current Income

Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/67503/2/10.1177_000276427501800304.pd

Is Housing Wealth an “ATM”? The Relationship Between Household Wealth, Home Equity Withdrawal, and Saving Rates

This paper examines the roles that increasing personal wealth and home equity withdrawal (HEW) have had in the decline in the personal saving rate in the United States. It does so by comparing the U.S. experience with that of Australia, Canada, and the United Kingdom. Mortgage market liberalization and innovation reduce household cash-flow and collateral constraints while making housing wealth more liquid as HEW becomes easier over time. Regression analysis indicates the expected negative relationship between U.S. saving and net worth, with a somewhat smaller coefficient than in previous empirical studies. Changes in HEW are found not to have a significant impact on U.S. saving in the short or long run. In that sense, housing wealth is not an “ATM.”IMF Staff Papers (2007) 54, 539–561. doi:10.1057/palgrave.imfsp.9450018