Using the Cambodia Socioeconomic Survey 2004 and employing micro-static simulation techniques, we measure the potential impacts of cash transfer programs for children to identify targeted groups that will have the most effect on poverty and school attendance. We conclude that the largest impacts...

This study compares the performance of various fixed and lifecycle portfolio strategies for the accumulation phase of retirement planning in emerging market countries. With an expected utility framework and a bootstrapped Monte Carlo procedure, we find that the majority of emerging market...

In recent years, investment portfolio selection is growing in importance for many emerging market pension funds, as pension reforms replace traditional pay-as-you-go systems with advanced funding systems. Various investment regulations are applied to the funded pensions, particularly in the form...

Many countries are currently increasing the advanced funding of their public pension systems to improve their sustainability in the face of rapidly aging populations. When pensions are funded, the issue of asset allocation becomes of paramount importance. Standard portfolio selection theory...

This paper aims to provide a long-term financial vision for the Vietnamese pension scheme using stochastic modeling for key variables under an actuarial framework. In particular, we project the pension fund balances in order to see whether the scheme will be financially sustainable. The median...

An understanding of the financial and distributional consequences of Social Security reform requires knowledge about the actual life circumstances of participants, including the level and pattern of their lifetime earnings and their age at retirement. Some analyses of Social Security reform make...

By using household data in 2004, this paper identifies the determinants of the elderly poverty in Vietnam. We find that urban and rural elderly are substantially different, and thus they should be analyzed separately. The results for urban areas generally show that higher ages, unmarried status,...

Section I reviews some of the important contributions using time series evidence to estimate Social Security’s impact on private savings. Essential to these studies is the use of a “Social Security Wealth” (SSW) variable, created by Martin Feldstein (1974), which defines the present value...

Briefly, some of our findings are as follows. First, the impacts of a universal NCP scheme on poverty rates and the poverty gap of the older persons would be significant, but become less potent when the eligibility age is higher. In particular, with the benefits provided, the older persons who...

Benefit reductions will likely be a part of the eventual Social Security reform in the United States. This research attempts to quantify the intragenerational and intergenerational impacts of different benefit reduction proposals on the incomes of the elderly. Reforms include across-the-board...