Optimal Design of Pension Rule with Flexible Retirement: The Two-Type Case

We study a model where the government offers two contracts: either low retirement age, low lifetime benefit or high retirement age, high lifetime benefit. Each worker privately knows whether he has a low or high life expectancy and chooses accordingly. The so-called ``actuarially fair' system – calculated at an average life expectancy – is shown to be not fair: the expectedly shorter-lived subsidize the expectedly longer-lived. Considering optimal design, second-best contracts are separating. Under neutrality, the shorter-lived retire too early with too low a benefit. Under redistribution, the shorter-lived work long enough and receive a high enough benefit to enjoy a higher lifetime utility than under neutrality, although they subsidize the longer-lived.     

养老保险对劳动供给和退休决策的影响

本文使用三期中国健康与养老追踪调查(CHARLS)数据,采用工具变量法等计量方法,分别考察了城镇企业职工养老保险和"新农保"对退休行为和劳动供给决策的影响。研究表明:城镇职工养老保险会激励职工提早退休,养老金财富每增加1%,职工预计停止工作年龄平均提早约1.2个月,需要照顾孙子女的职工倾向于提早退休,而参加城镇职工医疗保险会减弱这一引致退休效应;"新农保"对农民预计停止工作年龄产生微弱的负向影响,随着年龄的增加,养老保险的引致退休效应将减弱。同时,养老金财富的增加在一定程度上抑制农民无休止劳动的意愿;城镇职工养老保险制度对劳动供给产生的收入效应大于替代效应,它不仅会影响个体全职劳动时间,也会影响兼职的劳动时间;"新农保"对劳动供给的影响是非线性的。随着养老金给付水平的提高,自家农业活动的劳动时间呈现先逐步增加后降低的变化趋势,其他活动的劳动供给并未受到显著影响。实证研究结果表明,如果基本养老金增长率降低,则职工的预计停止工作年龄将推迟,这为中国适时推出渐进式延长退休年龄政策提供了经验依据。     

女性延迟退休:养老与平等的双重目标

老龄化社会的加速来临给我国养老保险制度的巩固和可持续发展带来了严峻挑战。就长期而言,延迟法定退休年龄是应对老龄化的有效措施,也是客观趋势。现行的女性提前退休政策给养老保险和性别平等带来了机制性障碍。作为渐次延迟整体退休年龄的第一步,率先延迟女性退休年龄,使之与男性同龄退休,兼具养老与性别平等的双重意义;女性平均预期寿命的延长、受教育水平的提高等,为延迟退休提供了可能性;渐进、差别和有弹性的退休政策则是女性延迟退休的现实选择。     

The Causal Effect of Retirement on Health: Understanding the Mechanisms

This article examines the direct effects of retirement on health, as well as its indirect effects, through a mediation analysis. Using Australian panel data, analysis reveals that changes in retirement status and retirement duration imply positive causal effects on self‐assessed health as well as physical health and mental health. Gender plays an important role in shaping these relationships. For women, the positive relationship between retirement duration and health can be attributed to physical activity. In contrast, men appear to enjoy better health when staying retired for longer because they participate more in outdoor activities.     

退休年龄、生育政策与中国基本养老保险基金的可持续性

文章基于我国人口老龄化对养老保险体系可持续发展影响日益凸显的现实背景,运用系统精算模型对四种情况下我国基本养老保险基金的财务运行状况进行动态模拟,以重点观察延迟退休年龄与调整生育政策所产生的效果以及降低缴费率的可能性.研究显示:(1)在不实施任何改革方案的情况下,大约30年后我国的基本养老保险基金将出现亏损,面临支付危机;(2)而适时延迟法定退休年龄,引入“单独二孩”等生育政策调整,则可以消化人口老龄化对养老保险体系带来的负面影响,同时为降低基本养老保险缴费率的改革提供基础;(3)在一定的条件下,即使缴费率显著降低,基金收支仍能保持略有盈余的状态,从而减轻企业和职工的缴费负担,为进一步扩大覆盖面创造条件.因此,适时延迟法定退休年龄和调整生育政策,是实现养老保障体系可持续发展的有效措施.     

延迟退休年龄与养老保险收支余额:作用机制及政策效应

文章通过连续时间养老金收支模型分析认为延迟退休年龄对养老保险计划收支余额的影响来自四个方面的效应,即缴费年限效应、领取年限效应、替代率效应和差异效应。改革的最终效果是上述四种效应共同作用的结果。短期看,前两种效应占据主导;长期看,后两种效应也具有显著影响。延迟退休年龄的政策效果和工资增长率、养老金增长率、改革速度以及未来参保人口结构有关。理论分析和实证检验结果表明,无论从改革过程还是从对养老保险计划收支余额的影响看,延迟退休年龄都是一个复杂而渐进的过程,延迟退休年龄必将减轻政府在养老保险方面负担的传统说法并不全面。     

经济收入和健康状况对退休期望的影响——一个交互效应模型

退休问题涉及广大劳动者的权益,为政府所关心,近年来关于退休年龄的研究随着我国老龄化问题的逐渐显现而越来越受重视。本研究从个体劳动者的微观角度探讨经济收入和健康状况对退休期望的影响,并收集了4971份有效问卷进行实证研究。结果表明,经济收入与退休期望有正相关关系,劳动者的健康状况也正向影响退休期望。并且,经济收入对退休期望的影响还受劳动者的健康状况所调节,良好的健康状况放大了经济收入对退休期望的正向影响,从而表现出健康状况正向调节经济收入与退休期望的关系。本研究结果对我国公共管理部门和企业界有重要指导意义。     

The Uncertainty of Economic Success When Economic Regimes Are Uncertain: A Study of Transition Periods

We construct a model of a reform economy in transition from central planning to free markets. The eventual success of the reform is uncertain. A numerical implementation of the model examines the implications of two alternative paths, instantaneous or gradual price reform. If the controlled-price sector has sharply decreasing returns to scale in production, then gradualism may lead to welfare higher than that of instantaneous reform. Given the inefficiencies in production in many transition economies, this may help to explain why countries that have used gradualism have sometimes fared better than those that have followed a path of rapid price liberalization. J. Comp. Econom., October 1994, 19(2), pp. 217-236. University of Kansas, Lawrence, Kansas 66045.     

The Marginal Costs and Benefits of Redistributing Income and the Willingness to Pay for Status

The effect of status on aggregate welfare is ambiguous for marginal reforms that redistribute income. If average consumption falls, the change in relative consumption increases household utility but reinforces the decrease in household labor supply, raising welfare cost. For parameterizations of the model developed here, reforms which lower average consumption increase aggregate welfare. Numerical calculations show that status increases marginal welfare cost and marginal net benefit for a demogrant reform. Redistributing to high income households may increase aggregate welfare depending on the definition of average consumption and if the willingness to pay for status increases with income.     

浅析系统动力学在企业家确定报酬中的应用

根据对以往企业家报酬的研究，提出了一套综合反映企业家报酬的系统研究框架，并采用系统动力学简单研究了该系统的反馈图。     

Hazardous Facility Siting When Cost Information Is Private: An Application of Multidimensional Mechanism Design

The siting of hazardous facilities often involves externalities that extend beyond the border of the community selected as a site. Thus, the private information of each community is potentially a vector of costs comprising a cost for each of the possible sites. I characterize the conditions for the existence of a direct mechanism that is incentive compatible, individually rational, and budget balancing. Incentive compatibility implies a pattern of compensation payments that often conflicts with compensation policy goals. When nonparticipating communities cannot block the siting of the facility, it will often be possible to implement siting policies with a balanced budget.     

The Effects of Health, Wealth, and Wages on Labour Supply and Retirement Behaviour

This paper estimates a life cycle model of labour supply, retirement, and savings behaviour in which future health status and wages are uncertain. Individuals face a fixed cost of work and cannot borrow against future labour, pension, or Social Security income. The method of simulated moments is used to match the life cycle profiles of labour force participation, hours worked, and assets that are estimated from the data to those that are generated by the model. The model establishes that the tax structure of the Social Security system and pensions are key determinants of the high observed job exit rates at ages 62 and 65. Removing the tax wedge embedded in the Social Security earnings test for individuals aged 65 and older would delay job exit by almost one year. By contrast, Social Security benefit levels, health, and borrowing constraints are less important determinants of job exit at older ages. For example, reducing Social Security benefits by 20% would cause workers to delay exit from the labour force by only three months.     

基于异质性特点的核心研发人员的薪酬模式设计

在知识型员工的薪酬激励问题中引入异质性这一概念,研究作为知识型员工的高新技术企业核心研发人员的薪酬体系。首先从异质性价值和异质性能力两个方面描述了核心研发人员的特征,继而根据异质性特征研究相关的物质薪酬体系设计,分别对技术等级工资、绩效工资、技术股权等进行了讨论,最后为高新技术企业进行薪酬设计提供一些可行的意见。     

薪点表法下的企业宽带薪酬体系设计

薪酬问题是企业生存和发展中的一个重大问题,设计和实施一个有效的薪酬方案来激发员工的工作积极性和创造性,是非常重要的。本文引入薪点表法和宽带薪酬建立了一套切实有效的薪酬体系,同时提出了企业在实施宽带薪酬体系中所存在的问题及应对策略,为企业在解决激励和薪酬问题方面提供了对策和建议。     

When Is Efficiency Separable from Distribution in the Provision of Club Goods?

Using the homogeneous of degree zero inverse congestion (“quality”) function employed most frequently in the literature, we characterise completely the families of utility functions which are then necessary and sufficient for break-even utilitarian welfare maximising provision of club goods with self-selection to be separable from distribution. Two types of separation—involving, alternatively (a) the price and quality; (b) the price, quality, facility size and total utilisation—are considered. When separation is possible, utility functions and optimal decisions take simple, intuitive forms. Our results extend the scope of separation results previously obtained only for pure public goods. Journal of Economic Literature Classification Numbers: D62, H23, H40.     

中国城乡老年健康及照料状况研究

人口老龄化背景下我国城乡的老年健康及老年照料问题日益严重。利用中国城乡老年人状况调查数据、全国残疾人抽样调查数据以及国家卫生服务利用调查数据,从两周患病率、慢性病患病率、残疾水平、自评健康以及健康预期寿命等方面分析了我国城乡老年人的健康状况,探讨了目前我国城乡老年人的照料提供来源。提出了人口老龄化趋势下提高老年健康水平,应对老年人口照料危机的政策建议。     

养老基金在公司治理结构中的作用

养老基金等机构投资者在公司治理结构中的作用，一直是学术界十分关注的问题。在投资者保护法制不健全的国家和地区，机构投资者对企业进行监督，可能有助于改善公司治理结构。本文概述机构投资者与公司治理结构关系的理论基础，分析美国、英国及一些转轨国家养老基金或投资基金对企业的监督和影响，探讨养老基金在改善中国公司治理结构中可能发挥的作用，最后是结论性评述。 一、概述：机构投资者与公司治理结构 广义地说，关于公司治理结构，主要讨论的是企业的投资者通过何种途径保证其投资获得回报。该问题之所以重要，是因为在企业所有权与管理权分离的情况下，容易出现代理(agency)问题，即企业管理者(代理人)为了自己的利益为所欲为，损害投资者(委托人)的利益甚至使之血本无归。控制代理问题有多种办法，其中，在投资者权益保护不充分的国家和地区，所有权集中、让机构投资者加强对企业的监督，是减轻代理问题的有效方式。投资者保护的法律越不完备，所有权集中的程度可能就越大(Shleifer，Vishny 1997)。这是因为，与个人投资者相比，机构投资者可能有足够的能力和动力对企业进行监督和控制，从而保护自身的权益。应该指出，此处所有权的集中是在上市公司股份均可流通的情况下，通过市场力量形成……     

当前我国养老服务社会化面临的问题及对策——基于地方养老服务工作的思考

我国人口的急剧老龄化使养老问题变得越来越严峻,目前各地推行的养老服务仍然存在观念、机制、管理等方面的问题。养老服务社会化是解决当前我国养老服务的重要途径之一。进一步推进养老服务社会化,需要坚持"鼓励支持+多元投入+市场运作"的模式,而各级政府需要在领导重视的基础上,通过不断的实践探索实现机制创新,进一步加强政府的监管作用。     

退休对认知能力的短期和长期影响*——兼论延迟退休的“健康红利”

本文使用中国健康与养老追踪调查(CHARLS) 2011—2015年3轮调查数据，通过研究退休与认知衰退的关系，探讨了延迟退休对认知能力的影响。估计结果表明，退休在短期能够抑制认知衰退，但是从长期来看退休对认知有负面的影响。具体来说，在退休后3年内，退休对认知衰退有抑制作用，在退休大约3年~4年后，退休对认知的积极影响逐渐变为负面影响。按性别分组的估计结果表明，退休对认知能力的负面长期影响对男性而言更突出。本文的研究揭示了退休对认知能力的短期和长期影响存在差异。从政策的角度讲，适当提高法定退休年龄能够缩短退休持续时间，对抑制认知衰退有积极作用，即延迟退休能够带来认知方面的“健康红利”。     

The Status of the Status Quo

The status quo plays a central role in both the positive and normative analysis associated with the constitutionalist and contractarian perspective. This paper reviews the status of the status quo in this context by identifying and addressing a series of questions relating to the definition, emergence and value of the status quo.