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Background: Encouraging older adults to continue working longer would be a realistic solution to the shrinking labor force, which is a result of the aging population. This study examined whether working longer improves the health of older adults.Methods: We used repeated cross-sectional data from 1,483,591 individuals aged 55–69 years collected from 11 waves of a nationwide population-based survey conducted in Japan from 1986 to 2016. We estimated pooled regression models to explain health outcomes by work status, controlling for potential endogeneity biases. Based on the estimation results, we conducted simulations to predict the health impact of policy measures that encourage older adults to participate in the labor force.Results: The regression analysis showed that work status had a mixed health impact. For example, work reduced the probability of poor self-rated health by 6.7 (95% confidence interval [CI], 6.2–7.2) percentage points and increased that of psychological distress by 12.2 (95% CI, 11.3–13.1) percentage points. The simulation results showed that raising both the mandatory retirement age and eligibility age for claiming public pension benefits to 70 years would increase the employment rate by 27.8 (standard deviation [SD], 4.2) percentage points among those aged 65–69 years, which would reduce their probability of poor self-rated health by 1.8 (SD, 0.4) percentage points and raise that of psychological distress by 4.1 (SD, 0.8) percentage points for that age group.Conclusions: The results suggest the need to pay attention to the health outcomes of policy measures that encourage older adults to work longer.

Background: Encouraging older adults to continue working longer would be a realistic solution to the shrinking labor force, which is a result of the aging population. This study examined whether working longer improves the health of older adults.Methods: We used repeated cross-sectional data from 1,483,591 individuals aged 55–69 years collected from 11 waves of a nationwide population-based survey conducted in Japan from 1986 to 2016. We estimated pooled regression models to explain health outcomes by work status, controlling for potential endogeneity biases. Based on the estimation results, we conducted simulations to predict the health impact of policy measures that encourage older adults to participate in the labor force.Results: The regression analysis showed that work status had a mixed health impact. For example, work reduced the probability of poor self-rated health by 6.7 (95% confidence interval [CI], 6.2–7.2) percentage points and increased that of psychological distress by 12.2 (95% CI, 11.3–13.1) percentage points. The simulation results showed that raising both the mandatory retirement age and eligibility age for claiming public pension benefits to 70 years would increase the employment rate by 27.8 (standard deviation [SD], 4.2) percentage points among those aged 65–69 years, which would reduce their probability of poor self-rated health by 1.8 (SD, 0.4) percentage points and raise that of psychological distress by 4.1 (SD, 0.8) percentage points for that age group.Conclusion: The results suggest the need to pay attention to the health outcomes of policy measures that encourage older adults to work longer.

One of the most interesting reasons for needing to estimate age in adult subjects is to ascertain the age of a person of questionable pensionable age. This problem is becoming increasingly important in Europe, owing to the high number of immigrants without valid birth certificates. The aim of this paper is to evaluate the application of the apposition of secondary dentine of canines by the method of Cameriere et al. [10], in order to estimate the pensionable age of subjects without proper birth certificates. Periapical X-rays of 180 canines from 90 subjects aged between 50 and 79, 46 men and 44 women, were analysed. Estimated ages were used to test the medico-legal question as to whether an individual was older or younger than 65 years of age. In subjects under 65, age was correctly evaluated in 91% and 89% of individuals using maxillary and mandibular canines, respectively. In subjects over 65, of pensionable age, estimates were correct in 85% and 88% of cases, respectively. The proportion of individuals with correct classifications was 89% for both maxillary and mandibular canines taken together. In only four subjects, the results of maxillary and mandibular canines were discordant; in the other 86 subjects, the test of maxillary and mandibular canines yielded concordant results. Among the latter, the proportion of individuals who were really aged 65 years or older, and who were correctly estimated as such, was 94%, and the proportion of individuals younger than 65 years of age who were correctly estimated as such was 96%.

All countries in the former transition economies of Central, Eastern, and Southern Europe have undertaken public pension reforms of varying depth and orientation, often with the support of the World Bank. Although the reformed public pension schemes provide broad benefit adequacy, in most cases additional measures are needed to achieve fiscal sustainability in an aging society. 'Adequacy of Retirement Income after Pension Reforms in Central, Eastern, and Southern Europe: Eight Country Studies' assesses the benefit adequacy of the reformed pension systems for eight countries—Bulgaria, the Czech Republic, Croatia, Hungary, Poland, Romania, the Slovak Republic, and Slovenia—to identify policy gaps and options. The authors identify the motivations for reform against the backdrop of the trend toward multi-pillar arrangements, document key provisions, and compare them in the context of the World Bank's five-pillar paradigm for pension reform. They then evaluate the sustainability and adequacy of reformed pension systems and provide recommendations to address gaps and take advantage of opportunities for further reforms. The case studies and summary suggest the following broad policy conclusions: • Fiscal sustainability has improved in most study countries, but few are fully prepared for the inevitability of population aging. • The linkage between contributions and benefits has been strengthened, and pension system designs are better suited to market conditions • Levels of income replacement are generally adequate for all but some categories of workers (including those with intermittent formal sector employment or low lifetime wages), and addressing their needs requires initiatives that go beyond pension policy. • Further reforms should focus on extending labor force participation by the elderly to avoid benefit cuts that could undermine adequacy and very high contribution rates that could discourage formal sector employment. • More decisive financial market reforms are needed for funded provisions to deliver on the expectations of participants and keep funded pensions safe. This book will be of interest to policy makers, researchers, and everyone interested in the topic of pensions in the region, and beyond.

Nonfinancial Defined Contribution (NDC) schemes are now in their teens. The new pension concept was born in the early 1990s, implemented from the mid-1990s in Italy, Latvia, Poland and Sweden, legislated most recently in Norway and Egypt and serves as inspiration for other reform countries. This innovative unfunded individual account scheme created high hopes at a time when the world seemed to have been locked into a stalemate between piecemeal reforms of ailing traditional defined benefit schemes and introducing pre-funded financial account schemes.The experiences and conceptual issues of NDC in its childhood were reviewed in a prior anthology (Holzmann and Palmer, 2006). This new anthology published in 2 volumes serves to review its adolescence and with the aim of contributing to a successful adulthood. Volume 1 on Lessons, Issues, Implementation includes a detailed analysis of the experience and the key policy lessons in the old and new pilot countries and general thoughts around the implementation of NDCs in other countries, including Chile, Greece and China. Volume 2 on Gender, Politics, Financial Stability includes deeper and new analyses of these issues that found limited or no attention in the 2006 publication. The key policy conclusions include: (i) NDC schemes work well (as documented by the experience of Italy, Latvia, Poland and Sweden during the crisis) but there is room to make them work even better; (ii) Go for an immediate transition to the new scheme to avoid future problems; (iii) Identify the legacy costs and their explicit financing during the transition as they will hit you otherwise soon; (iv) Adopt an explicit stabilizing mechanism to guarantee solvency; (v) Establish a reserve fund to guarantee liquidity; (vi) Elaborate an explicit mechanism to share the systemic longevity risk; and, last but not least; (vii) Address the gender implications of NDC with deeper analysis and open political discourse.

The global textile and apparel sector is critically important as an early phase in industrialization for many developing countries and as a provider of employment opportunities to thousands of low-income workers, many of them women. The goal of this book is to explore how the lifting of the Multi-fibre Arrangement/ Agreement on Textiles and Clothing (MFA/ATC) quotas has affected nine countries Bangladesh, Cambodia, Honduras, India, Mexico, Morocco, Pakistan, Sri Lanka, and Vietnam with the broader aim of better understanding the links between globalization and poverty in the developing world. Analyzing how employment, wage premiums, and the structure of the apparel industry have changed after the MFA/ATC can generate important lessons for policy makers for economic development and poverty reduction. This book uses in-depth country case studies as the broad methodological approach. In-depth country studies are important because countries are idiosyncratic: differences in regulatory context, history, location, trade relationships, and policies shape both the apparel sector and how the apparel sector changed after the end of the MFA. In-depth country studies place broader empirical work in context and strengthen the conclusions. The countries in this book were chosen because they represent the diversity of global apparel production, including differences across regions, income levels, trade relationships, and policies. The countries occupy different places in the global value chain that now characterizes apparel production. Not surprisingly, the countries studied in this book represent the diversity of post-MFA experiences. This book highlights four key findings: The first is that employment and export patterns after the MFA/ATC did not necessarily match predictions. This book shows that only about a third of the variation in cross-country changes in exports is explained by wage differences. While wage differences explain some of the production shifts, domestic policies targeting the apparel sector, ownership type, and functional upgrading of the industry also played an important role. Second, changes in exports are usually, but not always, good indicators of what happens to wages and employment. While rising apparel exports correlated with rising wages and employment in the large Asian countries, rising exports coincided with falling employment in Sri Lanka. Third, this book identifies the specific ways that changes in the global apparel market affected worker earnings, thus helping to explain impacts on poverty. Fourth, in terms of policies, the countries that had larger increases in apparel exports were those that promoted apparel sector upgrading; those that did not promote upgrading had smaller increases or even falling exports.

This study finds that pension reforms in recent years have improved the efficiency and sustainability of pension systems in the new member states of the European Union and Croatia. However, for many countries, these probably have not gone far enough to ensure long-term sustainability, given the aging of the population. Reforms have included changes to Pay-As-You-Go (PAYG) systems, including increases in retirement ages (not at least for women), new benefit formulas, and new indexation mechanism. Some countries (Latvia and Poland) have further strengthened the link of contributions and benefits to the sustainability of the PAYG system through the introduction of national defined contribution accounts. The link is strengthened also by moving to a point system, which has been adopted by many of the countries. Several countries have introduced a second, private, pension pillar, funded through diversion of part of the pension contributions, thereby diversifying risk. However, some countries (in particular the Czech Republic, Slovenia, and Romania) will need to do more to safeguard the long-term viability of their pension systems, while others face challenges to ensure equitable pension systems and adequate living standards for all elderly people.

The labor participation rate in Slovenia has been lower than in the EU-15 (the members states prior to May 2004), particularly for the low-income and older individuals. Using simulations of tax and social benefits and public pensions, the paper shows how the current tax, welfare, and pension systems create disincentives to work among these groups. The paper finds that incentives to retire early are strong for men, especially low-wage earners. The marginal effective tax rates also make it costly for low-income individuals to work and negatively affect the probability of participating. The paper proposes reform measures to enhance work incentives and labor participation, which will be crucial for dealing with population aging and for achieving higher potential growth in Slovenia.

The objective of the Nepal Investment Climate Assessment (ICA) is to evaluate the investment climate in Nepal in all its dimensions and promote policies to strengthen the private sector. The investment climate is made up of many dimensions that shape the opportunities for investments, employment creation, and growth of private firms. Such dimensions include factor markets, product markets, infrastructure services, and the macroeconomic, legal, regulatory, and institutional framework. The report's key finding is that while there are some niche sectors growing and expanding employment in Nepal (including tourism and certain educational and other services), there are many constraints to the investment climate in Nepal that are hindering the development and growth of the private sector. In particular, political instability, poor infrastructure, poor labor relations, poor access to finance, and declining exports plague Nepal's private sector. To overcome many of these issues and move forward, many reforms are needed. Given the extent of the challenge, effective public-private dialogue is required so that the government and the private sector can work in partnership to address these constraints. The pervasiveness and impact of political instability in Nepal makes the investment climate in the country comparable more to Afghanistan than other countries in the region or the comparator countries used in the analysis. While this comparison is unflattering, it is true. Political instability has stifled growth and limited Nepal's ability to exploit its hydropower and tourism potential. Interestingly, many firms do not perceive access to land and finance as major obstacles. This could be a reflection of lack of dynamism: Nepalese firms are simply not planning to invest, expand, and grow in their unstable and unpredictable environment. The peace dividend is not difficult to measure. As the surveys show, ending civil unrest alone would give back to enterprises 44 working days a year. The effects on economic activity, investment, growth, and job creation could be potentially huge.