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  • 1
    Online Resource
    Online Resource
    Efficiency and Equity Implications of Oil Windfalls in Brazil / (2013)
    Washington, D.C., : The World Bank,
    Details
    UID:
    almafu_9958246586302883
    Format: 1 online resource (33 pages)
    Series Statement: Policy research working papers.
    Content: Large oil reserves off the coast of Brazil may substantially increase the country's oil revenue in the future. A natural resource "curse" could be the consequence if an appropriate share of the oil revenue is not invested. This issue is addressed in this paper for Brazil both theoretically and empirically by focusing on (i) the efficient allocation of oil revenue between investment and consumption; and (ii) because it may be efficient to consume a certain share of the oil revenue, the distributional implications across generations of higher public consumption. The main finding is that, if the Pre-Salt oil revenue brings the aggregate oil revenue in Brazil above 10 percent of gross domestic product, there will be scope for consuming a certain share of it while still maintaining efficiency. But unless oil revenue reaches 10 percent or more of gross domestic product, then all of it should be invested in order for the economy to approach the efficient investment level. If oil revenue as a share of gross domestic product was 10 percent, then the achievable growth in gross domestic product could reach 9.0 percent. The distributional implications are positive for all generations, but vary across generations depending on how much of the oil revenue is invested. As a result, transfer policies could be adjusted to ensure equality in its distribution.
    Language: English
    DOI: 10.1596/1813-9450-6597
    URL: Volltext  (Deutschlandweit zugänglich)
    URL: Volltext  (kostenfrei)
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    Fulltext
    FU Berlin
    UB Potsdam
    EUV Frankfurt
    HTW Berlin
    Charité
    MPI Bildungsforschung
  • 2
    Online Resource
    Online Resource
    Macroeconomic and policy implications of population aging in Brazil / (2011)
    Washington, D.C., : The World Bank,
    Details
    UID:
    almafu_9958246490302883
    Format: 1 online resource (36 pages)
    Series Statement: Policy research working papers.
    Content: This paper analyzes the macroeconomic implications of population aging in Brazil. Three alternative yet complementary methodologies are adopted, and depending on policy responses to the fiscal implications of aging, there are two main findings: First, saving rates could increase and not necessarily fall as a consequence of aging in Brazil-thus contradicting conventional views. Second, lifetime wealth across generations could increase-as capital deepening generates a second demographic dividend. Two policy responses to aging are emphasized: First, a structural policy response of linking mandatory retirement (or entitlement) ages to increasing life expectancy would boost labor supply and reduce the fiscal costs of aging. Second, in terms of preferable parametric policy responses, the second demographic dividend will be promoted to the highest extent by keeping taxes and debt unchanged while allowing public pensions to adjust downward. Such a policy response would keep pensions from further crowding out private saving-thus balancing capital accumulation with intergenerational income distribution. In conclusion, Brazil will not necessarily experience a fall in saving and growth, but if government policies are appropriately, adequately, and timely formulated, population aging is likely to lead to substantial capital deepening and increases in lifetime income, wealth, and welfare.
    Language: English
    DOI: 10.1596/1813-9450-5519
    URL: Volltext  (Deutschlandweit zugänglich)
    URL: Volltext  (kostenfrei)
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    Online Resource
    Fulltext
    FU Berlin
    UB Potsdam
    EUV Frankfurt
    HTW Berlin
    Charité
    MPI Bildungsforschung
  • 3
    Online Resource
    Online Resource
    Health, Demographic Transition and Economic Growth / (2010)
    Washington, D.C., : The World Bank,
    Details
    UID:
    almafu_9958246210802883
    Format: 1 online resource (22 pages)
    Series Statement: Policy research working papers.
    Content: This paper develops a link between four central components of the demographic transition: survival rates; fertility decisions; altruistic intergenerational transfers from workers toward their parents; and economic growth. An increase in child survival is found to reduce the fertility rate and altruistic transfers, and thereby increase the savings rate and the productivity growth rate. The analysis illustrates the key role of child health in the demographic transition.
    Language: English
    DOI: 10.1596/1813-9450-5304
    URL: Volltext  (Deutschlandweit zugänglich)
    URL: Volltext  (kostenfrei)
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    Online Resource
    Fulltext
    FU Berlin
    UB Potsdam
    EUV Frankfurt
    HTW Berlin
    Charité
    MPI Bildungsforschung
  • 4
    Online Resource
    Online Resource
    Brazil's Bank Spread in International Context : From Macro to Micro Drivers (2013)
    Washington, D.C., : The World Bank,
    Details
    UID:
    almafu_9958246585002883
    Format: 1 online resource (42 pages)
    Series Statement: Policy research working papers.
    Content: In an international context, this paper analyzes the main drivers of Brazil's bank spreads measured by the net interest margin, by estimating internationally comparable measures for (i) institutional and regulatory (micro-) factors; (ii) macro-economic factors; and (iii) banking competition factors. The paper produces and applies a novel data set covering 197 areas and countries; ranging from 1995 to 2009, including 106 banks for Brazil and 16,434 banks worldwide. The analysis finds that micro-factors are the main drivers of spreads across the world. In the case of Brazil, the spread is found to be strongly accounted for by micro-factors-also in international comparison. For example, micro-factors contributed 7.2 percentage points (79 percent) of the 11.5 percent total spread in Brazil in 2009, while macro-factors and banking competition factors jointly accounted for only 1.9 percentage points (21 percent). Conversely, Brazil does not rank high in international comparison in terms of macro-economic risk: Brazil and other countries from Latin America and the Caribbean are found to feature the highest micro-factors in the world while having the second-highest spreads and the second-lowest contribution of macro-factors. These unique findings suggest that countries striving toward reducing bank spreads should consider policies aimed at reducing microeconomic frictions in their banking sectors, in particular, (i) the economic costs of holding reserves, (ii) credit risk, and (iii) implicit interest payments. In terms of policy dialogue, this would be especially relevant for Brazil and for Latin American and Caribbean countries in general.
    Language: English
    DOI: 10.1596/1813-9450-6611
    URL: Volltext  (Deutschlandweit zugänglich)
    URL: Volltext  (kostenfrei)
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    Fulltext
    FU Berlin
    UB Potsdam
    EUV Frankfurt
    HTW Berlin
    Charité
    MPI Bildungsforschung
  • 5
    Online Resource
    Online Resource
    Reform and backlash to reform : economic effects of ageing and retirement policy (2010)
    Washington, D.C., : The World Bank,
    Details
    UID:
    almafu_9958246194702883
    Format: 1 online resource (21 pages)
    Series Statement: Policy research working papers.
    Content: Using a stochastic general equilibrium model with overlapping generations, this paper studies (i) the effects on both extensive and intensive labor supply responses to changes in fertility rates, and (ii) the potential of a retirement reform to mitigate the effects of fertility changes on labor supply. In order to neutralize the effects on effective labor supply of a fertility decline, a retirement reform, designed to increase labor supply at the extensive margin, is found to simultaneously reduce labor supply at the intensive margin. This backlash to retirement reform requires the statutory retirement age to increase more than proportionally to fertility changes in order to compensate for endogenous responses of the intensity of labor supply. The robustness of this result is checked against alternative model specifications and calibrations relevant to an economic region such as Europe.
    Language: English
    DOI: 10.1596/1813-9450-5470
    URL: Volltext  (Deutschlandweit zugänglich)
    URL: Volltext  (kostenfrei)
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    Fulltext
    FU Berlin
    UB Potsdam
    EUV Frankfurt
    HTW Berlin
    Charité
    MPI Bildungsforschung
  • 6
    Online Resource
    Online Resource
    Labor Supply and Retirement Policy in An Overlapping Generations Model With Stochastic Fertility / (2010)
    Washington, D.C., : The World Bank,
    Details
    UID:
    almafu_9958246203302883
    Format: 1 online resource (21 pages)
    Series Statement: Policy research working papers.
    Content: Using a stochastic general equilibrium model with overlapping generations, this paper studies a policy rule for the retirement age aiming at offsetting the effects on the supply of labor following fertility changes. The authors find that the retirement age should increase more than proportionally to the direct fall in labor supply caused by a fall in fertility. The robustness of this result is checked against alternative model specifications and parameter values. The efficacy of the policy rule depends crucially on the link between the preference for leisure and the response of the intensive margin of labor supply to changes in the statutory retirement age. The model has subsequently been calibrated for Brazil by Jorgensen (2010), in the context of the Brazil Aging Study.
    Language: English
    DOI: 10.1596/1813-9450-5382
    URL: Volltext  (Deutschlandweit zugänglich)
    URL: Volltext  (kostenfrei)
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    Fulltext
    FU Berlin
    UB Potsdam
    EUV Frankfurt
    HTW Berlin
    Charité
    MPI Bildungsforschung
  • 7
    Book
    Book
    Growing old in an older Brazil : implications of population ageing on growth, poverty, public finance and service delivery (2011)
    Washington, DC : World Bank
    Details
    UID:
    gbv_657859494
    Format: XXXII, 299 S. , graph. Darst.
    ISBN: 9780821388020
    Series Statement: Directions in development
    Content: Introduction and overview -- Population dynamics in Brazil -- Old-age social protection programs and the aging challenge -- Health and long-term care -- Education and productivity -- Public finance implications of population aging: 2005-50 -- Financing Brazil's aging population : implications for saving and growth
    Note: Includes bibliographical references , Introduction and overview -- Demographic change and labor market trends in Brazil -- The old-age social protection programs and the aging challenge -- Health and long-term care -- Education and productivity -- Public finance implications of population aging in Brazil : 2005-2050 -- Financing Brazil's aging population : implications for saving and growth.
    Additional Edition: ISBN 9780821388037
    Language: English
    Subjects: Economics , Political Science , Sociology
    RVK:
    MI 84920
    RVK:
    MS 2700
    RVK:
    QG 630
    Keywords: Brasilien ; Altern ; Altersversorgung ; Bevölkerungsentwicklung ; Graue Literatur
    DOI: 10.1596/978-0-8213-8802-0
    URL: Inhaltsverzeichnis
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  • 8
    Online Resource
    Online Resource
    Efficiency and Equity Implications of Oil Windfalls in Brazil / (2013)
    Washington, D.C., : The World Bank,
    Details
    UID:
    edocfu_9958246586302883
    Format: 1 online resource (33 pages)
    Series Statement: Policy research working papers.
    Content: Large oil reserves off the coast of Brazil may substantially increase the country's oil revenue in the future. A natural resource "curse" could be the consequence if an appropriate share of the oil revenue is not invested. This issue is addressed in this paper for Brazil both theoretically and empirically by focusing on (i) the efficient allocation of oil revenue between investment and consumption; and (ii) because it may be efficient to consume a certain share of the oil revenue, the distributional implications across generations of higher public consumption. The main finding is that, if the Pre-Salt oil revenue brings the aggregate oil revenue in Brazil above 10 percent of gross domestic product, there will be scope for consuming a certain share of it while still maintaining efficiency. But unless oil revenue reaches 10 percent or more of gross domestic product, then all of it should be invested in order for the economy to approach the efficient investment level. If oil revenue as a share of gross domestic product was 10 percent, then the achievable growth in gross domestic product could reach 9.0 percent. The distributional implications are positive for all generations, but vary across generations depending on how much of the oil revenue is invested. As a result, transfer policies could be adjusted to ensure equality in its distribution.
    Language: English
    DOI: 10.1596/1813-9450-6597
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Open Access Request
    FU Berlin
  • 9
    Online Resource
    Online Resource
    Efficiency and Equity Implications of Oil Windfalls in Brazil / (2013)
    Washington, D.C., : The World Bank,
    Details
    UID:
    edoccha_9958246586302883
    Format: 1 online resource (33 pages)
    Series Statement: Policy research working papers.
    Content: Large oil reserves off the coast of Brazil may substantially increase the country's oil revenue in the future. A natural resource "curse" could be the consequence if an appropriate share of the oil revenue is not invested. This issue is addressed in this paper for Brazil both theoretically and empirically by focusing on (i) the efficient allocation of oil revenue between investment and consumption; and (ii) because it may be efficient to consume a certain share of the oil revenue, the distributional implications across generations of higher public consumption. The main finding is that, if the Pre-Salt oil revenue brings the aggregate oil revenue in Brazil above 10 percent of gross domestic product, there will be scope for consuming a certain share of it while still maintaining efficiency. But unless oil revenue reaches 10 percent or more of gross domestic product, then all of it should be invested in order for the economy to approach the efficient investment level. If oil revenue as a share of gross domestic product was 10 percent, then the achievable growth in gross domestic product could reach 9.0 percent. The distributional implications are positive for all generations, but vary across generations depending on how much of the oil revenue is invested. As a result, transfer policies could be adjusted to ensure equality in its distribution.
    Language: English
    DOI: 10.1596/1813-9450-6597
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Open Access Request
    Charité
  • 10
    Online Resource
    Online Resource
    Health, Demographic Transition and Economic Growth / (2010)
    Washington, D.C., : The World Bank,
    Details
    UID:
    edoccha_9958246210802883
    Format: 1 online resource (22 pages)
    Series Statement: Policy research working papers.
    Content: This paper develops a link between four central components of the demographic transition: survival rates; fertility decisions; altruistic intergenerational transfers from workers toward their parents; and economic growth. An increase in child survival is found to reduce the fertility rate and altruistic transfers, and thereby increase the savings rate and the productivity growth rate. The analysis illustrates the key role of child health in the demographic transition.
    Language: English
    DOI: 10.1596/1813-9450-5304
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    Open Access Request
    Charité
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