International Pension Workshop

Session 1.1: Viability of pension plans
Chair: Ian Tonks

Emmanouil Platanakis (University of Bradford School of Management)
Pension scheme redsign and wealth redistribution between the members and sponsor: The USS rule change in October 2011
Paper
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Discussant: Roel Mehlkopf (DNB, TiU)
Presentatie

Damiaan Chen (Amsterdam School of Economics)
Stability of participation in collective pension schemes: an option pricing approach
Paper
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Discussant: Antoon Pelsser (Maastricht University)
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Session 1.2: Life cycle
Chair: Monika Bütler

Rowena Crawford (Institute for Fiscal Studies)
Have households under-saved for retirement?
Paper
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Discussant: Lieke Kools (Leiden University)
Presentatie

Pascal St Amour (University of Lausanne, Faculty of Business and Economcis (HEC)
Life cycle responses to health insurance status
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Discussant: Rob Alessie (Groningen University)
Presentation

Session 1.3: Retirement and self-employment
Chair: Flavia Coda Moscarola

Giacomo Pasini (Universita Ca’Foscari)
The effect on mental health of retiring during the economic crisis
Paper
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Discussant: Andries de Grip (Maastricht University)
Presentation

Margherita Borella (Turin University, Collegio Carlo Alberto CeRP)
Self-employment in Italy: the role of social security wealth
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Discussant: Stefan Hochguertel (VU Amsterdam)
Presentation

Session 2.1: Pension fund performance
Chair: Patrick Gerhard

Michael Rockinger (Swiss Finance Institute and University of Lausanne)
Optimal long-term allocation with pension fund liabilities
Paper
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Discussant: Peter Vlaar (APG)
Presentation

Ian Tonks (University of Bath, School of Management)
Network centrality and pension fund performance
Paper
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Discussant: Arno Riedl (Maastricht University)
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Session 2.2: Social security and annuities
Chair: Arjen Hussem

Yang Jiang (University of Groningen)
Non-annuitization in the annuity market
Paper
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Discussant: Monika Butler (University of St. Gallen)
Presentation

Joanna Tyrowicz and Marcin Bielecki (National Bank of Poland)
Political (in)stability of social security reform
Paper
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Discussant: Ward Romp (University of Amsterdam)
Presentation

Session 2.3: Health and medical expenditures
Chair: Margherita Borella

Raun van Ooijen (Groningen University)
Health status over the life cycle
Paper
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Discussant: Pilar Garcia Gomez (Erasmus University Rotterdam)
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Mariacristina de Nardi (UCL. Chicago Fed, IFS and NBER)
Medical expenses and health
Paper
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Discussant: Wilco Achterberg (Leiden University Medical Center)
Presentation

Session: Pension adequacy in Eastern Europe
Chair: Bas Werker

Andres Vork (Praxis Centre for Policy Studies, Estonia)
The impact of introduction of funded pension schemes on inter- and intragenerational inequality in Estonia: a cohort microsimulation analysis
Paper
Presentation
Discussant: Koen Caminada (Leiden University)
Presentation

Robert Gal (TARKI Social Research Institute)
The savings gap in Hungary
Paper
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Discussant: Magnus Piirits (Praxis Centre for Policy Studies, Estonia)
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Theo Nijman (TiU and Netspar)
Analysis of the standardized Pan European Pension (PEPP) product and its impact in four European countries: the Netherlands, Estonia, Finland and Hungary
Paper
Presentation
Discussant: Eduard Ponds (APG / TiU)
Presentation

Session: Annuitization and pension reform
Chair: Theo Nijman

Mariacristina Rossi (University of Turin)
Financial inclusion and life insurance demand: evidence from Italian households
Paper
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Discussant: Hazel Bateman (University of New South Wales)
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Marcel Lever (CPB)
Welfare effects and discontinuity risks of intergenerational risk sharing
Paper
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Discussant: Jan Bonenkamp (APG)
Presentation

Plenary session chaired by Marike Knoef

Claus Munk (Copenhagen Business School)
The role of housing in life-cycle portfolio and consumption decisions – part I
Paper
Presentation

Mariacristina de Nardi (UCL, Chicago Fed, IFS and NBER)
Savings and wealth inequality
Paper
Presentation

Session 3.1: Framing and beliefs
Chair: Sally Shen

Eduard Ponds (APG, TiU)
Framing and pension annuities
Paper
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Discussant: Thomas Post (Maastricht University)
Presentation

Patrick Gerhard (Maastricht University)
How past performance framing impacts investors’ belief updating
Paper
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Discussant: Maarten van Rooij (DNB)
Presentation

Rawley Heimer (Federal Reserve Bank of Cleveland)
YOLO: mortality beliefs and household finance puzzles
Paper
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Discussant: Paula Lopes (London School of Economics)
Presentation

Session 3.2: Long term care and health prevention
Chair: Raymond Montizaan

Bram Wouterse (CPB)
Sustainability of public finances and the rising costs of long term care in the Netherlands
Paper
Presentation
Discussant: Pieter Bakx (Erasmus University Rotterdam)
Presentation

Arjen Hussem (PGGM)
The ability to pay for long-term care in the Netherlands: a life-cycle perspective
Paper
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Discussant: Teresa Bago d’Uva (Erasmus University Rotterdam)
Presentation

Paul Andres Rodriguez Lesmes (University College London)
Does it pay to medicate half of Britain? The case of primary prevention of cardiovascular diseases in the UK
Paper
Presentation
Discussant: Dorly Deeg (VU Amsterdam)
Presentation

Session 3.3: Issues in aging
Chair: Susan Thorp

Christoph Merkle (University of Mannheim)
The willingness to pay, accept and retire
Paper
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Discussant: Bas Donkers (Erasmus University Rotterdam)
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Najat el Mekkaoui (University Paris Dauphine)
Pension information and retirement planning in France: an evaluation of public policy
Paper
Presentation
Discussant: Milena Dinkova (Utrecht University School of Economics)
Presentation

Mariacristina Rossi (University of Turin)
Expected inheritance, labor supply and (dis)saving
Paper
Presentation
Discussant: Yue Li (VU Amsterdam)
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Session 4.1: Asset pricing models
Chair: Carolina Fugazza

Sally Shen (Capital University of Economics and Business)
How much should life cycle investor adapt their behavior when confronted with model uncertainty
Paper
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Discussant: Ferenc Horvath (Tilburg University)
Presentation

Zorka Simon (University of Mannheim)
Not risk free: the relative pricing of euro area inflation-indexed and nominal bonds
Paper
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Discussant: Dirk Broeders (DNB)
Presentation

Session 4.2: Labour supply
Chair: Jim Been

Peter Haan (DIW Berlin, German Institute for Economic Research)
Labour supply and the pension system – evidence from a regression kink design
Paper
Presentation
Discussant: Adriaan Kalwij (Utrecht School of Economics)
Presentation

Raymond Montizaan (ROA, Maastricht University)
Gradual retirement, financial incentives, and labour supply of older workers: evidence from a stated preference analysis
Paper
Presentation

Session 4.3: Mortality
Chair: Najat el Mekkaoui

Susan Thorp (The University of Sydney Business School, University of Sydney)
Family, friends and framing: a cross-country study of subjective survival expectations
Paper
Presentation
Discussant: Jochem de Bresser (Groningen University)
Presentation

Ingo Kolodziej (Ruhr-University Bochum)
Changes in morbidity by proximity to death over time: evidence from Europe
Paper
Presentation
Discussant: Enrica Croda (University of Venice)
Presentation

Netspar Thesis Award Ceremony

Plenary session: chaired by Peter Schotman

Claus Munk (Copenhagen Business School)
The role of housing in life-cycle portfolio and consumption decisions – part II

Session 5.1: Life cycle portfolio choice
Chair: Gosse Alserda

Osei Wiafe (Griffith Business School, Griffith University)
Asset allocation in retirement: does glide path matter?
Discussant: Roderick Molenaar (Robeco)

Claus Munk (Copenhagen Business School)
Predictors and portfolios over the life cycle
Discussant: Frank de Jong (Tilburg University)

Carolina Fugazza (Turin University, Collegio Carlo Alberto
Life-cycle asset allocation and unemployment risk
Discussant: Bas Werker (Tilburg University)

Session 5.2: Home production, job losses and choosing
Chair: Anthony Webb

Wandi Bruine de Bruin (Centre for Decision Research, Leeds University Business School)
Choosing to be happy? Age differences in ‘maximizing’ decision strategies and experienced emotional well-being
Discussant: Elisabeth Brüggen (Maastricht University)

Jim Been (Leiden Law School, Leiden University)
Home production as a substitute to market consumption? Estimating the elasticity using houseprice shocks from the Great Recession
Discussant: Kim Peijnenburg (Bocconi University)

Jochem Zweerink (VU Amsterdam)
Job loss, firm-level heterogeneity and mortality
Discussant: Michele Belloni (Ca’Foscari University of Venice)

Session 5.3: Savings
Chair: Marike Knoef

Peter van Santen (Sveriges Riksbank)
Uncertain pension income and household saving
Discussant: Eva Sierminska (CEPS/INSTEAD)

Alessandro Martinello (Lund University)
How schooling affects intelligence and lifetime wealth accumulation
Discussant: Hans Bloemen (VU Amsterdam)

Eduard Suari Andreu (Groningen University)
The retirement-savings puzzle revisited: the role of housing as a bequethable asset
Discussant: Jan Rouwendal (VU Amsterdam)

Session 6.1: Risk preferences
Chair: Emmanouil Platanakis

Gosse Alserda (Erasmus University Rotterdam)
Risk preference heterogeneity and optimal pension asset allocation
Discussant: Osei Wiafe (Griffith Business School, Griffith University)

Paul Smeets (Maastricht University)
Measuring risk and time preferences for pension savings decisions
Discussant: Christoph Merkle (University of Mannheim)

Session 6.2: Household finances
Chair: Rowena Crawford

Anthony Webb (Center for Retirement Research at Boston College)
Do households increase their savings when the kids leave home?
Discussant: Federica Teppa (DNB)

Paula Lopes (London School of Economics)
Background expenditure risk: implications for household finances and psychological well-being
Discussant: Arthur van Soest (Tilburg University)

Session 6.3: Disability and absenteeism
Chair: Eduard Suari Andreu

Flavia Coda Moscarola (university of turin, CeRP)
Absenteeism, childcare and the effectiveness of pension reforms
Discussant: Andras Simonovits (Institute of Economics CRERS-HAS)

Silvia Garcia Mandico (Erasmus University Rotterdam)
Back to work: employment effects of tighter disability insurance eligibility in the Netherlands