Global Pensions Asset Study – 2014
Source: Towers Watson
This is a study of the 13 largest pension markets in the world and accounts for more than 85% of global pension assets. The countries included are Australia, Canada, Brazil, France, Germany, Hong Kong, Ireland, Japan, Netherlands, South Africa, Switzerland, the UK and the US. The study also analyses seven countries in greater depth by excluding the six smallest markets (Brazil, France, Germany, Ireland, Hong Kong and South Africa).
The analysis includes:
- Asset size, including growth statistics, comparison of asset size with GDP and liabilities
- Asset allocation
- Defined benefit and defined contribution share of pension assets
- Public and private sector share of pension assets.
OECD Review of Fisheries: Country Statistics 2013
Source: Organisation for Economic Co-operation and Development
Fisheries (capture fisheries and aquaculture) supply the world each year with millions of tonnes of fish (including, notably, fish, molluscs and crustaceans). Fisheries as well as ancillary activities also provide livelihoods and income. The fishery sector contributes to development and growth in many countries, playing an important role for food security, poverty reduction, employment and trade.
This publication contains statistics on fisheries from 2005 to 2012. Data provided concern fishing fleet capacity, employment in fisheries, fish landings, aquaculture production, recreational fisheries, government financial transfers, and imports and exports of fish.
OECD countries covered
Australia, Belgium, Canada, Chile, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Japan, Korea, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Slovak Republic, Spain, Sweden, Switzerland, Turkey, United Kingdom, United States
Non-member economies covered
Argentina, Chinese Taipei, Thailand
Sentencing and Prison Practices in Germany and the Netherlands: Implications for the United States
Source: Vera Institute for Justice
Germany and the Netherlands have significantly lower incarceration rates than the United States and make much greater use of non-custodial penalties, particularly for nonviolent crimes. In addition, conditions and practices within correctional facilities in these countries—grounded in the principle of “normalization” whereby life in prison is to resemble as much as possible life in the community—also differ markedly from the U.S. In February 2013—as part of the European-American Prison Project funded by the California-based Prison Law Office and managed by Vera—delegations of corrections and justice system leaders from Colorado, Georgia, and Pennsylvania together visited Germany and the Netherlands to tour prison facilities, speak with corrections officials and researchers, and interact with inmates. Although variations in the definitions of crimes, specific punishments, and recidivism limit the availability of comparable justice statistics, this report describes the considerably different approaches to sentencing and corrections these leaders observed in Europe and the impact this exposure has had (and continues to have) on the policy debate and practices in their home states. It also explores some of the project’s practical implications for reform efforts throughout the United States to reduce incarceration and improve conditions of confinement while maintaining public safety.
Just Published: Law Library of Congress Report on Guest Worker Programs
Source: Law Library of Congress
A report titled Guest Worker Programs was recently added to the list of reports posted on the Law Library of Congress website under “Current Legal Topics” where you can also find a range of other comparative law reports on various topics.
The Guest Worker Programs report is based on a study conducted by staff of the Global Legal Research Center (GLRC). The report describes programs for the admission and employment of guest workers in fourteen selected countries:
- the Russian Federation,
- South Korea,
- the United Arab Emirates, and
- the United Kingdom.
It also provides information on the European Union’s Proposal for a Directive on Seasonal Employment, the Association Agreement between the European Union and Turkey regarding migrants of Turkish origin, and the Multilateral Framework of the International Labour Organization on the admission of guest workers. The complete report is also available in PDF.
The report includes a comparative analysis and individual chapters on each country, the EU, and relevant international arrangements. It provides a general overview of a variety of immigration systems, and addresses issues such as eligibility criteria for the admission of guest workers and their families, guest workers’ recruitment and sponsorship, and visa requirements. The report further discusses the tying of temporary workers to their employers in some countries; the duration and the conditions that apply to switching employers; the terms, including the renewability, of guest workers’ visas; and the availability of a path to permanent status.
Shock from Graying: Is the Demographic Shift Weakening Monetary Policy Effectiveness
Source: International Monetary Fund
Abstract Empirical evidence is mounting that, in advanced economies, changes in monetary policy have a more benign impact on the economy—given better anchored inflation expectations and inflation being less responsive to variation in unemployment—compared to the past. We examine another aspect that could explain this empirical finding, namely the demographic shift to an older society. The paper first clarifies potential transmission channels that could explain why monetary policy effectiveness may moderate in graying societies. It then uses Bayesian estimation techniques for the U.S., Canada, Japan, U.K., and Germany to confirm a weakening of monetary policy effectiveness over time with regards to unemployment and inflation. After proving the existence of a panel co-integration relationship between ageing and a weakening of monetary policy, the study uses dynamic panel OLS techniques to attribute this weakening of monetary policy effectiveness to demographic changes. The paper concludes with policy implications.
Explaining High Health Care Spending in the United States: An International Comparison of Supply, Utilization, Prices, and Quality
This analysis uses data from the Organization for Economic Cooperation and Development and other sources to compare health care spending, supply, utilization, prices, and quality in 13 industrialized countries: Australia, Canada, Denmark, France, Germany, Japan, the Netherlands, New Zealand, Norway, Sweden, Switzerland, the United Kingdom, and the United States. The U.S. spends far more on health care than any other country. However this high spending cannot be attributed to higher income, an older population, or greater supply or utilization of hospitals and doctors. Instead, the findings suggest the higher spending is more likely due to higher prices and perhaps more readily accessible technology and greater obesity. Health care quality in the U.S. varies and is not notably superior to the far less expensive systems in the other study countries. Of the countries studied, Japan has the lowest health spending, which it achieves primarily through aggressive price regulation.
Grandparenting and mothers’ labour force participation: A comparative analysis using the Generations and Gender Survey
It is well known that the provision of public childcare plays an important role for women labour force participation and its availability varies tremendously across countries. In many countries, informal childcare is also important and typically provided by the grandparents, but its role on mothers’ employment is not yet well understood. Understanding the relationship between labour supply decisions and grandparental childcare is complex. While the provision of grandparental childcare is clearly a function of the social and institutional context of a country, it also depends on family preferences, which are typically unobserved in surveys.OBJECTIVEWe analyze the role of informal childcare provided by grandparents on mothers’ labour force participation keeping unobserved preferences into account.METHODSBivariate probit models with instrumental variables are estimated on data from seven countries (Bulgaria, France, Georgia, Germany, Hungary, Russia and The Netherlands) drawn from the Generations and Gender Survey.RESULTSWe find that only in some countries mothers’ employment is positively and significantly associated with grandparents providing childcare. In other countries, once we control for unobserved preferences, we do not find this effect.CONCLUSIONSThe role of grandparents is an important element to reconcile work and family for women in some countries. Our results show the importance of considering family preferences and country differences when studying the relationship between grandparental childcare and mothers’ labour supply.COMMENTSOur results are consistent with previous research on this topic. However, differently from previous studies, we conduct separate analyses by country and show that the effect of grandparental childcare varies considerably. The fact that we also include in the analyses Bulgaria, Hungary, Russia and Georgia is an important novelty as there are no studies on this issue for these countries.
Despite Increasing Concerns about High Health Care Costs, New Survey Finds Little Support among Americans for Decisions That Limit Use of High-Cost Prescription Drugs and Treatments
A new survey by the Harvard School of Public Health and the Alliance for Aging Research finds that a majority (62%) of Americans oppose decisions by the government or health insurance plans where prescription drugs or medical or surgical treatments are not paid for because the payors determine that the benefits do not justify the cost. The exception is if there’s evidence that something else works equally well but costs less. A majority (64%) of Americans believe the government or health insurance plans should not pay for a more expensive prescription drug or medical or surgical treatment if it has not been shown to work better than less expensive ones. Majorities in Italy and Germany share both of these beliefs with the U.S. public. In the United Kingdom, at least a plurality shares these beliefs.
New 2011 Survey of Patients with Complex Care Needs in Eleven Countries Finds That Care Is Often Poorly Coordinated
An international survey of adults living with health problems and complex care needs found that patients in the United States are much more likely than those in 10 other high-income countries to forgo needed care because of costs and to struggle with medical debt. In all the countries surveyed, patients who have a medical home reported better coordination of care, fewer medical errors, and greater satisfaction with care than those without one.
- Sicker adults in the U.S. stood out for having cost and access problems. More than one of four (27%) were unable to pay or encountered serious problems paying medical bills in the past year, compared with between 1 percent and 14 percent of adults in the other countries. In the U.S., 42 percent reported not visiting a doctor, not filling a prescription, or not getting recommended care. This is twice the rate for every other country but Australia, New Zealand, and Germany.
- In the U.S., cost-related access problems and medical bill burdens were concentrated among adults under age 65. Compared with Medicare-aged adults 65 or older, adults under 65 were far more likely to go without care because of the cost or to have problems paying bills.
- Adults with complex care needs who received care from a medical home—an accessible primary care practice that knows their medical history and helps coordinate care—were less likely to report experiencing medical errors, test duplication, and other care coordination failures. They were also more likely to report having arrangements for follow-up care after a hospitalization and more likely to rate their care highly.
- Sicker adults in the U.K. and Switzerland were the most likely to have a medical home: nearly three-quarters were connected to practices that have medical home characteristics, compared with around half in most of the other countries.
New Study: U.S. Ranks Last Among High-Income Nations on Preventable Deaths, Lagging Behind as Others Improve More Rapidly
New Study: U.S. Ranks Last Among High-Income Nations on Preventable Deaths, Lagging Behind as Others Improve More Rapidly
Source: Commonwealth Fund (Health Policy)
The United States placed last among 16 high-income, industrialized nations when it comes to deaths that could potentially have been prevented by timely access to effective health care, according to a Commonwealth Fund–supported study that appeared online in the journal Health Policy this week and will be available in print on October 25th as part of the November issue. According to the study, other nations lowered their preventable death rates an average of 31 percent between 1997–98 and 2006–07, while the U.S. rate declined by only 20 percent, from 120 to 96 per 100,000. At the end of the decade, the preventable mortality rate in the U.S. was almost twice that in France, which had the lowest rate—55 per 100,000.
In “Variations in Amenable Mortality—Trends in 16 High Income Nations,” Ellen Nolte of RAND Europe and Martin McKee of the London School of Hygiene and Tropical Medicine analyzed deaths that occurred before age 75 from causes like treatable cancer, diabetes, childhood infections/respiratory diseases, and complications from surgeries. They found that an average 41 percent drop in death rates from ischemic heart disease was the primary driver of declining preventable deaths, and they estimate that if the U.S. could improve its preventable death rate to match that of the three best-performing countries—France, Australia, and Italy—84,000 fewer people would have died each year by the end of the period studied.
“This study points to substantial opportunity to prevent premature death in the United States. We spend far more than any of the comparison countries—up to twice as much—yet are improving less rapidly,” said Commonwealth Fund Senior Vice President Cathy Schoen. “The good news is we know lower death rates are achievable if we enhance access and ensure high-quality care regardless of where you live. Looking forward, reforms under the Affordable Care Act have the potential to reduce the number of preventable deaths in the U.S. We have the potential to join the leaders among high-income countries.”
Importance of E-services for Cultural Tourism (PDF)
Source: Research Papers in Economics
Despite a busy lifestyle – or perhaps as a result of a stressful lifestyle – more people than ever before make leisure trips, sometimes for a long time but in many cases just for short periods. Modern telecommunication technology brings attractive tourist destinations directly into the living rooms of potential travellers, also destinations that would otherwise have been difficult to find, such as certain cultural heritage objects. In this contribution, we will address the relevance of e-services in urban cultural tourism. Its aim is to map out the relative drivers of cultural visitors to cities with a particular view on the importance of modern e-services in the tourist sector. We focus on three case-study cities: Amsterdam, Leipzig and Genoa. We use discrete choice models and factor analysis to analyse the preferences of tourists for cultural heritage and e-services. Interestingly, in all three cities, the most important group of tourists, the cultural heritage enthusiasts, are often international tourists. This stresses the importance of multilingual e-services in order to maximise their impact on cultural heritage visitors and the tourism sector in general. In addition, it is also important to note that certain e-services become more important for tourists from further away, such as online booking systems.
The Hidden Costs of U.S. Health Care for Consumers
From press release:
Rising health care costs, coupled with the current state of the economy, have prompted many consumers across the globe to delay care, alter household spending and worry about their ability to pay for future health care costs according to the 4th annual Deloitte Center for Health Solutions “2011 Survey of Health Care Consumers.”
Deloitte surveyed more than 15,000 health care consumers in 12 different countries including Belgium, Brazil, Canada, China, France, Germany, Luxembourg, Mexico, Portugal, Switzerland, the United Kingdom and the United States during April and May.
In the United States, three in four (75 percent) consumers say the recent economic slowdown has impacted their health care spending. Four in 10 (41 percent) are being more cautious about it, 20 percent cut back on spending, and 13 percent have reduced it considerably. In addition, 63 percent say their monthly health care spending limits their household’s ability to purchase other essentials such as housing, groceries, fuel and education. To save money, 36 percent of prescription medication users have asked their doctor to prescribe a generic drug instead of a brand name drug. These findings follow Deloitte’s, “The Hidden Costs of U.S. Health Care for Consumers: A Comprehensive Analysis,” published in March 2011, which revealed consumers spend $363 billion more on health care than traditionally reported, outpacing housing and utility costs as a discretionary household expense.
Additionally, one in four (25 percent) U.S. consumers skipped seeing a doctor when sick or injured. Of those consumers who decided not to see a doctor in the past year, those that did so due to costs ranged from a high of 49 percent in the United States, followed by Belgium (39 percent), China (35 percent) and Mexico (34 percent), to a low of 5 percent in Canada and 7 percent in the United Kingdom and Luxembourg.
More than half of all respondents from the 12 countries surveyed, with the exception of the United Kingdom (24 percent) and Canada (39 percent), also confirmed that household spending on health care limits their ability to spend on other household essentials. Additionally, between 4 in 10 and 5 in 10 respondents experienced an increase in household spending on health care in the past year with the exception of the United Kingdom (22 percent), Canada (29 percent) and China (37 percent).
Sexual Satisfaction and Relationship Happiness in Midlife and Older Couples in Five Countries (PDF)
Source: Archives of Sexual Behavior (via Kinsey Institute)
Sexuality research focuses almost exclusively on individuals rather than couples, though ongoing relationships are very important for most people and cultures. The present study was the first to examine sexual and relationship parameters of middle-aged and older couples in committed relationships of 1–51 years duration. Survey research was conducted in Brazil, Germany, Japan, Spain, and the U.S. targeting 200 men aged 40–70 and their female partners in each country, with 1,009 couples in the final sample. Key demographic, health, physical intimacy, sexual behavior, sexual function, and sexual history variables were used to model relationship happiness and sexual satisfaction. The median ages were 55 for men and 52 for women; median relationship duration was 25 years. Relationship satisfaction in men depended on health, physical intimacy, and sexual functioning, while in women only sexual functioning predicted relationship satisfaction. Models predicting sexual satisfaction included significant physical intimacy and sexual functioning for both genders and, for men, more frequent recent sexual activity and fewer lifetime partners. Longer relationship duration predicted greater relationship happiness and sexual satisfaction for men. However, women in relationships of 20 to 40 years were significantly less likely than men to report relationship happiness. Compared to men, women showed lower sexual satisfaction early in the relationship and greater sexual satisfaction later. Within the long-term committed relationship context, there were signiﬁcant gender differences in correlates of sexual and relationship satisfaction, with sexual functioning a common predictor of both types of satisfaction and physical intimacy a more consistent and salient predictor for men.
Comparing BRICs and G6 nations in fossil fuels
A new report, “If not BRICs, then what? Comparing BRICs and G6 nations in fossil fuels” compares the up-and-coming BRIC nations to the G6 in fossil fuels. Long acknowledged by analysts and the media as new regions of economic growth, the same does not necessarily hold true when comparing reserves, production and consumption of fossil fuels. The report is authored by Global E&R FAS Leader, Jean-Michel Gauthier and Mark L Robinson, Marketing Leader for Global Energy & Resources.
+ Full Report (PDF)