Johannes Koettl's Books

The Inverting Pyramid

Pension Systems Facing Demographic Challenges in Europe and Central Asia

By: Anita M. Schwarz,Omar S. Arias,Asta Zviniene,Heinz P. Rudolph,Sebastian Eckardt,Johannes Koettl,Herwig Immervoll,Miglena Abels

Write a review Read reviews Take a Quiz Solve Book Puzzle

The Inverting Pyramid

Pension Systems Facing Demographic Challenges in Europe and Central Asia

By: Anita M. Schwarz,Omar S. Arias,Asta Zviniene,Heinz P. Rudolph,Sebastian Eckardt,Johannes Koettl,Herwig Immervoll,Miglena Abels

Europe’s pension systems –among the most celebrated features of its social welfare model— face tremendous challenges. With only 11 percent of the world’s population, Europe spends about 60 percent of global outlays on social protection, largely in pensions. In many countries, pension rules have encouraged people to retire sooner, while enjoying longer lives. Payroll taxes on a continuously expanding contributory base have financed these benefits. This model of pension provision is now being severely tested as pension systems reach maturity, while the population is aging and the labor force is starting to shrink. Measures to enable a continued tradition of providing old age security will include • raising retirement ages such that pensions are provided in the last 15 years of life, when work capacity traditionally diminishes • encouraging immigration to help fill the declining work force • rationalizing pension spending, putting priority on preventing old age poverty, and • encouraging savings to help provide the more comfortable retirement that individuals have come to expect. Some measures may be more appropriate in particular countries than others, yet undertaking all of them will likely require less drastic changes in any one of them. The specific choices will need to be discussed and agreed among each country’s own population, and be accompanied by enabling changes in pension policy, tax policy, financial markets policy, and labor policy. The fundamental issue is that, with these changes, the important achievements of European social policy can withstand the demographic onslaught and continue to provide old age security for generations to come.

Average ratings

N/A

Write a review

Solve jigsaw puzzle

Age

Page Count

304

Publisher

World Bank Publications

Published Date

ISBN 10

0821399098

ISBN 13

9780821399095

Golden Aging

Prospects for Healthy, Active, and Prosperous Aging in Europe and Central Asia

By: Maurizio Bussolo,Johannes Koettl,Emily Sinnott

Write a review Read reviews Take a Quiz Solve Book Puzzle

Golden Aging

Prospects for Healthy, Active, and Prosperous Aging in Europe and Central Asia

By: Maurizio Bussolo,Johannes Koettl,Emily Sinnott

Societies across Europe and Central Asia are aging, but people are not necessarily living longer. This demographic trend-caused by a decrease in fertility rather than improved longevity-presents both challenges and opportunities for governments, the private sector, and individuals alike. Some of the challenges are well known. Output per capita becomes smaller if it is shared with an increasingly larger group of dependent older people. At a certain point, there may not be sufficient resources to maintain the living standards of this older group, especially if rising expenditures on health care, long-term care, and pensions must be financed through the contributions and taxes paid by ever-smaller younger age groups. Working adults also contribute the most to the pool of savings. As the size of this group shrinks, savings will decline. But these challenges can be transformed into opportunities. Consider these examples: As longevity increases, workers tend to stay in the workforce longer, and, with the right incentives, they will increase their savings. Many current workers, and perhaps even more in the future, will thus not necessarily become dependent once they turn 65. And with slower population growth and smaller young age groups, societies will have an opportunity to improve the quality of education and maintain productivity. Firms in some countries are already adapting by capitalizing on skills that appreciate with age. Cardiovascular diseases account for more than half the difference in life expectancy (above age 50) between the region and Western Europe for men and 75 percent of the corresponding difference for women. Healthier behavior and health systems focused on preventive care could, with no cost increase, dramatically reduce this risk. These opportunities are not to be missed. As populations age, public discourse ranges from concerns about economic decline and fiscal sustainability of pensions and health systems to optimism about opportunities for healthier and more productive aging. The main contribution of Golden Aging is perhaps to show that demography and its consequences are not fixed. Much will depend on how people, firms, and societies adapt and how policy makers and institutions facilitate their behavioral adjustments. The future for Europe and Central Asia does not have to be gray-it can be a golden era of healthy, active, and prosperous aging.

Average ratings

N/A

Write a review

Solve jigsaw puzzle

Age

Page Count

363

Publisher

World Bank Publications

Published Date

ISBN 10

1464803544

ISBN 13

9781464803543

In from the Shadow

Integrating Europe's Informal Labor

By: Truman G. Packard,Johannes Koettl,Claudio Montenegro

Write a review Read reviews Take a Quiz Solve Book Puzzle

In from the Shadow

Integrating Europe's Informal Labor

By: Truman G. Packard,Johannes Koettl,Claudio Montenegro

This book is about people in Europe who earn a living working in untaxed markets for goods, services, and labor. As governments face a rapid population ageing, the circumstances that lead people to work and trade in the shadow economy have grown in importance.

Average ratings

N/A

Write a review

Solve jigsaw puzzle

Age

Page Count

196

Publisher

World Bank Publications

Published Date

ISBN 10

0821395505

ISBN 13

9780821395509

In from the Shadow

Integrating Europe's Informal Labor

By: Truman G. Packard,Johannes Koettl,Claudio Montenegro

Write a review Read reviews Take a Quiz Solve Book Puzzle

In from the Shadow

Integrating Europe's Informal Labor

By: Truman G. Packard,Johannes Koettl,Claudio Montenegro

Average ratings

N/A

Write a review

Solve jigsaw puzzle

Age

Page Count

196

Publisher

World Bank Publications

Published Date

ISBN 10

0821395505

ISBN 13

9780821395509

Golden Aging

Prospects for Healthy, Active, and Prosperous Aging in Europe and Central Asia

By: Maurizio Bussolo,Johannes Koettl,Emily Sinnott

Write a review Read reviews Take a Quiz Solve Book Puzzle

Golden Aging

Prospects for Healthy, Active, and Prosperous Aging in Europe and Central Asia

By: Maurizio Bussolo,Johannes Koettl,Emily Sinnott

Compared to other regions, Europe and Central Asia are by far the oldest. Moreover, population aging is set to accelerate further over the coming decades as large segments turn old. Additionally, some countries such as Russia and certain Eastern European countries are facing a shrinkage of their population. Against this backdrop, this report investigates what stands in the way of societies reaping the full benefits of increased longevity--that is, longer lives and potentially prolonged payoffs from human capital--and what can help to mitigate the possible negative impacts of a smaller and older workforce. Beginning with a focus on demographic trends, the report puts the rapid decline in fertility and contrasting migration trends in the region in a historical perspective and looks forward to the varying paths that population change may follow in the region. Next, it examines the evidence on the likely impact of demographic change on growth and savings, the labor force, firm and economy-wide innovation, poverty and inequality, and intergenerational solidarity. Finally, the report goes beyond diagnostics and puts an emphasis on what we know regarding successful policy interventions, presenting evidence on what has and has not worked in the past.--Publisher description.

Average ratings

N/A