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Poverty alleviation and consumption smoothing in european pension systems: convergence or divergence?
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Title: Poverty alleviation and consumption smoothing in european pension systems: convergence or divergence?

Creator:

Chybalski, Filip

Description:

Argumenta Oeconomica, 2018, Nr 1 (40), s. 181-202

Abstrakt:

Since pension systems have undergone reforms due to ageing populations, some changes linked to the relations between the objectives of pensions may also be expected. The two main social goals of pensions are poverty relief and consumption smoothing. In this paper the relationship between these two goals in 30 European countries using Eurostat data for the years 2007-2013 is investigated. Two different poverty measures: the at-risk-of-poverty rate and severe material deprivation ratio, and two different measures reflecting consumption smoothing: aggregate replacement ratio and relative median income ratio, are used. The method employed in the analysis is based mostly on the regression models for cross-section and panel data, however trend analysis and correlation analysis are also implemented. The results of the study suggest that despite deteriorating demographics and pension finance sustainability, the two analysed objectives seem to be still more convergent than divergent. In the majority of the studied countries, measures reflecting poverty are positively correlated with measures reflecting consumption smoothing. The other interesting conclusion is that there are many countries where relative poverty is not correlated with absolute poverty, or is even negatively correlated, which means that these two types of poverty may be quite different phenomena. This is probably caused by the ineffective redistribution which supports to a greater extent poor people instead of the poorest. The results also suggest that today’s workers are paying for the generosity of pension systems, therefore intergenerational redistribution may be a more important tool to ensure adequate pensions than an intragenerational one

Publisher:

Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu

Place of publication:

Wrocław

Date:

2018

Resource Type:

artykuł

Resource Identifier:

doi:10.15611/aoe.2018.1.08 ; oai:dbc.wroc.pl:41151

Language:

eng

Relation:

Argumenta Oeconomica, 2018, Nr 1 (40)

Rights:

Wszystkie prawa zastrzeżone (Copyright)

Access Rights:

Dla wszystkich w zakresie dozwolonego użytku

Location:

Uniwersytet Ekonomiczny we Wrocławiu

Group publication title:

Argumenta Oeconomica

Format:

application/pdf

Subject and keywords:

pension retirement consumption smoothing poverty redistribution income

Object collections:

Last modified:

May 26, 2022

In our library since:

May 17, 2018

Number of object content hits:

357

Number of object content views in PDF format

358

All available object's versions:

https://dbc.wroc.pl./publication/48860

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Poverty alleviation and consumption smoothing in european pension systems: convergence or divergence? May 26, 2022

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