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The French pattern of early transitions out of employment is basically explained by the low age at “normal” retirement … and by the importance of transitions through unemployment insurance and early-retirement schemes before access to normal … retirement. These routes have exempted French workers from massively relying on disability motives for early exits, contrarily to …
Persistent link: https://www.econbiz.de/10008805953
-linked insurance and pension products that have evolved concurrently with the steady increase in life expectancy since 1960s. In …
Persistent link: https://www.econbiz.de/10008791882
public deficits and inflationary pressures. The paper aims at discussing these new challenges. The inadequacy of inflation …
Persistent link: https://www.econbiz.de/10008794219
In 1982, the French socialist government lead by Pierre Mauroy reduced the legal age of retirement for both men and … the Thomas Act that introduced retirement savings plan, but the law was never enforced because of the political change in … June 1997, and was formally abrogated in 2002. Amazingly there seems be a 10 years cycle in French pension system reforms …
Persistent link: https://www.econbiz.de/10008792028
pension and the number of reference earning years taken to calculate pensions. We use a unique database on health and …How does the retirement age affect the physical and mental health of seniors? We identify this effect based on the 1993 … reform of the French pension system, which was heterogeneously introduced among the population. With each cohort, the French …
Persistent link: https://www.econbiz.de/10010738995
The recent fi nancial crisis revealed several flaws in both monetary and fi nancial regulation. Contrary to what was believed, price stability is not a suffi cient condition for financial stability. At the same time, micro-prudential regulation alone becomes insu fficient to ensure the financial...
Persistent link: https://www.econbiz.de/10010821362
Global liquidity, which consists of both monetary liquidity (quantitative easing and traditional policies) and funding liquidity, follows specific dynamics. The importance of these dynamics is reflected by the growing interest in international policy fora in the economic efects and determinants...
Persistent link: https://www.econbiz.de/10010899663
The bargaining power of international banks is currently still very high as compared to what it was at the time of the Bretton Woods conference. As a consequence, systemic financial crises are likely to remain recurrent phenomena with large effects on macroeconomic aggregates. Mainstream...
Persistent link: https://www.econbiz.de/10011025682
This paper investigates the identification, the determinacy and the stability of ad hoc, "quasi-optimal" and optimal policy rules augmented with financial stability indicators (such as asset prices deviations from their fundamental values) and minimizing the volatility of the policy interest...
Persistent link: https://www.econbiz.de/10011026031
This paper investigates the identification, the determinacy and the stability of ad hoc, "quasi-optimal" and optimal policy rules augmented with financial stability indicators (such as asset prices deviations from their fundamental values) and minimizing the volatility of the policy interest...
Persistent link: https://www.econbiz.de/10011026203