Comparative Political Economy: Social Welfare Policy eJournal最新文献

{"title":"A Qualitative Study of Experiences of Refugees’ Social Exclusion","authors":"Heejoo Kim","doi":"10.15855/SWP.2020.47.3.341","DOIUrl":"https://doi.org/10.15855/SWP.2020.47.3.341","url":null,"abstract":"","PeriodicalId":10619,"journal":{"name":"Comparative Political Economy: Social Welfare Policy eJournal","volume":"1 1","pages":"341-372"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86427231","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Effect of Unemployment Insurance Benefits on (Self-) Employment: Two Sides of the Same Coin?","authors":"Sebastian Camarero Garcia, Michelle Hansch","doi":"10.2139/ssrn.3736742","DOIUrl":"https://doi.org/10.2139/ssrn.3736742","url":null,"abstract":"Although a relevant share of firms is created out of unemployment and current active labor market policies in Europe often subsidize unemployed individuals to start their own businesses, little is known about the role of unemployment insurance (UI) generosity for self-employment. By using Spanish administrative data including so far inaccessible information on self-employment, we exploit a reform-driven exogenous cut in UI benefits to identify its causal effect on general employment and decompose it into the effects on self-employment and re-employment. Exploiting a discontinuity in the UI benefit schedule which changed as a result of the 2012 Spanish labor market reform, we estimate the causal reform effects on the extensive margin of (self-)employment and on unemployment duration. We find heterogeneous effects on the extensive margin: while the job-finding rate increases, the startup rate decreases. Over different time horizons, the negative effect on self- employment (35-50%) outweighs the positive effect on employment (5-33%). Therefore, omitting self-employment as a counterfactual outcome might lead to overestimate general employment effects. Our UI benefit duration elasticity estimates indicate that reduced UI benefits extend unemployment duration for individuals transitioning into self-employment but shorten unemployment for individuals finding re-employment. These results might be relevant for the (optimal) design of UI systems.","PeriodicalId":10619,"journal":{"name":"Comparative Political Economy: Social Welfare Policy eJournal","volume":"161 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87698478","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Changes in Income and Income Composition of Elderly After the Introduction of Basic Pension - Comparison of Gender and Households Types -","authors":"Jung Hyun Kim, Chun, Miae","doi":"10.15855/SWP.2020.47.1.31","DOIUrl":"https://doi.org/10.15855/SWP.2020.47.1.31","url":null,"abstract":"","PeriodicalId":10619,"journal":{"name":"Comparative Political Economy: Social Welfare Policy eJournal","volume":"93 1","pages":"31-50"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77258867","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Illinois Teachers' Retirement System, 2019: Private Equity Performance","authors":"Susan J. Chaplinsky","doi":"10.2139/ssrn.3648509","DOIUrl":"https://doi.org/10.2139/ssrn.3648509","url":null,"abstract":"Cinda Klickna, trustee of the State of Illinois Teachers' Retirement System (TRS), was preparing to vote in June 2019 on a proposed $75 million investment in a new fund being raised by First Light Capital (FLC), a midsized buyout firm. Illinois had been under financial pressure for some time, and TRS, the state's largest public pension, was seriously underfunded. In 2012, TRS's board began a plan to strategically increase its allocations to private equity (PE). By 2018, the target allocation to PE had reached 15%, well above the 10% average of other public pensions. The increase in PE was undertaken in an attempt to close the funding gap necessitated by insufficient state funding and the generally low-interest-rate environment. The strategy had not gone unnoticed, and many now openly questioned the higher risk and costs of these investments. In the face of this greater scrutiny, Klickna believed it was important that the pension's PE investments earn a satisfactory return, by looking to invest in funds that had upper-quartile returns and public market equivalents (PMEs) greater than one.This case is appropriate for courses that cover PE investments, such as those typically covering topics on venture capital or PE, or courses on asset management that include alternative assets. It introduces students to some of the commonly used PE performance metrics and the challenges associated with measuring performance for an illiquid asset class. Students are introduced to the Global Investment Performance Standards (GIPS) and their purposes and limitations in evaluating performance. Students are asked to calculate the gross and net since-inception internal rate of return (SI-IRR), DPI, RVPI, TVPI, and PME for the same pending investment in FLC Fund IV and compare how performance is assessed across these metrics. The case also discusses the push for greater disclosure in the PE industry as it grows in its influence and public investors seek to know more about its performance.<br><br>Excerpt<br><br>UVA-F-1952<br><br>Jul. 6, 2020<br><br>Illinois Teachers' Retirement System, 2019: Private Equity Performance<br><br>Cinda Klickna, former president of the Illinois Education Association, the state's largest teachers' union, and trustee of the State of Illinois Teachers' Retirement System (TRS), had grown frustrated with discussions about the “new reality” regarding teachers' pension benefits. Over the past decade, the benefits promised to public-sector employees and teachers had come under increased scrutiny as states struggled to meet their fiscal obligations. Illinois had been under financial pressure for some time, and TRS was seriously underfunded. In 2012, the board began a plan to strategically increase its allocations to private equity (PE). By 2018, the target allocation to PE had reached 15%, well above the 10% average of other public pensions. The increase in PE was undertaken in an attempt to close the funding gap necessitated by insufficient state fundi","PeriodicalId":10619,"journal":{"name":"Comparative Political Economy: Social Welfare Policy eJournal","volume":"138 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79804639","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Effect of Communication Level and Social Participation on Happiness of the People with Developmental Disabilities - Focused on the Mediating Effect of the Autoregressive Cross-lagged Modeling -","authors":"Kim, Mi Ok, J. Hye, Park Ji Hea","doi":"10.15855/SWP.2020.47.2.5","DOIUrl":"https://doi.org/10.15855/SWP.2020.47.2.5","url":null,"abstract":"","PeriodicalId":10619,"journal":{"name":"Comparative Political Economy: Social Welfare Policy eJournal","volume":"23 1","pages":"5-29"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75174314","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"In the era of austerity, how is social care dismantled? - Focusing on changes since the Conservative-Liberal Democrat Coalition Government in U.K. -","authors":"Kim HyoungYong, Cheong Sejeong","doi":"10.15855/SWP.2020.47.2.59","DOIUrl":"https://doi.org/10.15855/SWP.2020.47.2.59","url":null,"abstract":"","PeriodicalId":10619,"journal":{"name":"Comparative Political Economy: Social Welfare Policy eJournal","volume":"35 1","pages":"59-85"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73985546","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A Study on the Old-age Pension Beneficiaries who are engaged in Income-earning Activities","authors":"Hyejin Kim, shin seunghee","doi":"10.15855/SWP.2020.47.3.205","DOIUrl":"https://doi.org/10.15855/SWP.2020.47.3.205","url":null,"abstract":"","PeriodicalId":10619,"journal":{"name":"Comparative Political Economy: Social Welfare Policy eJournal","volume":"78 1","pages":"205-225"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74958664","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A Study of Longitudinal Trajectories of Health and Job Demand on Retirement Age","authors":"Amal Harrati, P. Hepburn, D. Rehkopf","doi":"10.2139/ssrn.3520188","DOIUrl":"https://doi.org/10.2139/ssrn.3520188","url":null,"abstract":"In this paper, we characterized health trajectories over an 18-year period for a cohort of American workers. We used administrative data to track monthly, health-related events for six chronic diseases (asthma, arthritis, diabetes, depression, ischemic heart disease, and hypertension) including the diagnoses of new disease, hospitalizations, and outpatient visits. Using these data, we first used sequence and cluster analysis to characterize long-term trajectories of health and to group workers according to their patterns of work experience. We then modeled the relationship of these health trajectories to retirement age, accounting for baseline underlying health, as well as a number of demographic and job-related characteristics. Finally, we consider the role of physical and psychosocial job demand in retirement age.<br><br>Our analysis produces a number of findings that should be of interest to those studying retirement policy. In our data, workers can be categorized into a small number of distinct work trajectories. While the majority of workers in this sample remain relatively healthy for much of the observation window, others exhibit patterns of health-related events that are often marked by hypertension and/or arthritis. We find that clusters characterized with health events related to hypertension and arthritis are likely to retire later, not earlier. We offer a possible interpretation that these numerous health-related events are signaling the proper management of these chronic diseases, allowing workers to extend their working life. Moreover, we find an association with job demands and retirement, even after controlling for health. Specifically, we find that increases in exposure to heat are associated with lower retirement age, as is less decision-making autonomy. The limitations of this paper include the lack of a representative sample, a relatively small sample size, and the strong incentives of retirement pensions in this cohort that may overwhelm other factors related to retirement decisions.","PeriodicalId":10619,"journal":{"name":"Comparative Political Economy: Social Welfare Policy eJournal","volume":"30 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76014273","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The German Housing Market Cycle: Answers to FAQs","authors":"Florian Kajuth","doi":"10.2139/ssrn.3581221","DOIUrl":"https://doi.org/10.2139/ssrn.3581221","url":null,"abstract":"This paper analyses the behaviour of prices and supply on the German housing market taking into account the interaction between prices and quantities. A novel price index for residential property prices covering the whole country going back to 1993 is used in a macroeconomic model to estimate key housing market elasticities for Germany. A decomposition suggests that the land price component of house prices is relatively elastic with respect to income and interest rates, while the construction price component responds to income and the level of construction activity. The decomposition also highlights countervailing house price effects of a supply increase: A dampening effect via land prices and a stimulating effect via construction prices.","PeriodicalId":10619,"journal":{"name":"Comparative Political Economy: Social Welfare Policy eJournal","volume":"40 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79201747","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A Study on the Turnover Behavior of Youths of Non-profit Organizations - Job Satisfaction vs. person-job fit -","authors":"Lee Bong Hwan, Lee, Moonsuk, A. Kim，Yun","doi":"10.15855/SWP.2020.47.3.5","DOIUrl":"https://doi.org/10.15855/SWP.2020.47.3.5","url":null,"abstract":"","PeriodicalId":10619,"journal":{"name":"Comparative Political Economy: Social Welfare Policy eJournal","volume":"121 1","pages":"5-34"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88257587","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}