Edyta Marcinkiewicz

• PhD
• Professor (Associate) at Lodz University of Technology

The paper proposes a conceptual framework for evaluation of the degree of housing decommodification in current welfare states. It presents the findings of an empirical analysis that employs a wide range of institutional characteristics, both quantitative and qualitative, and covers 31 European countries. A statistical explanatory technique is emplo...

The study explores the distribution of elderly households in terms of combinations of different levels of income and wealth and relates to the typically greater homeownership rates in this group than in the younger generation. Using microdata from the Luxembourg Wealth Study for 12 countries it demonstrates that ‘income‐poor, asset‐rich’ elderly ho...

The policy-makers’ efforts to increase the role of voluntary pension systems observed in many countries reflect a more general tendency, which is the privatisation of social risks. The paper examines, from a comparative perspective, to what extent European countries have privatised their pensions in terms of voluntary pension systems. It aggregates...

This study contributes to the discussion about the role of housing in the old‐age security. It attempts to identify some patterns concerning wealth accumulation preferences among elderly households. We pose a question whether these patterns can be associated with pension generosity measured by the level of income replacement. The study employs micr...

In the paper, we present a new typology of pension regimes based on two main dimensions: the extent of involvement of the state and the market, and the role of voluntary schemes. We propose three theoretical pension regimes. The study proves that our theoretical typology is also consistent with empirical pension systems in OECD countries. In order...

This paper investigates the association of housing configurations reflected by different regimes with more specifically determined elements of the welfare state regime, which are pension regimes. The study aims to answer the question of whether the linkage between housing and pensions can be recognized also at the “regime” level. For this purpose,...

The socio-demographic context, which includes the co-residence patterns associated with the decisions of young adults on whether to live in the parental household or enter homeownership or renting, is directly reflected in homeownership rates at the aggregate level as a consequence of these decisions. However, the way in which tenure statistics are...

We test whether the co-residence of older parents with their adult children of reproductive age increases the chance of them forming a multichild family. Using data from Wave X of the Luxembourg Wealth Study (LWS) and multinomial logistic regression, we model the number of children using the binary variable informing if there is an older household...

This study contributes to the discussion about wealth inequality, albeit from a more detailed housing perspective. It explores tenure inequality, as well as housing assets inequality. The latter includes a different approach than the one that prevails in the previous literature on wealth inequalities, which most often considers total net worth or n...

The demographic shift experienced by developed countries inevitably results in a change in intergenerational relations. However, despite some attempts to evaluate intergenerational balance in quantitative terms, there is still a significant literature gap in this respect. This paper aims to propose a conceptual and empirical framework to measure in...

Purpose The authors’ empirical investigation attempts to identify the nexus between the economic well-being of Polish elderly households and their housing situation, which can be related to the impact of the mass privatization policy implemented in Poland in the early 1990s. The generation who benefited from the process at that time currently inclu...

In this paper, we attempt to incorporate an innovative and more comprehensive view of defamilization into the comparative analysis of real-type welfare state models. The study presents four empirically distinguished welfare state regimes where we consider separately both notions associated with (de)familization and (de)genderization together with o...

Streszczenie (pl) W niniejszym dokumencie skupiamy się na wieku emerytalnym jako zasadniczej determinancie adekwatności i stabilności systemu emerytalnego w długim okresie. Celem opracowania jest przedstawienie i omówienie wyników zrealizowanych badań odnoszących się do uwarunkowań kształtowania efektywnego wieku emerytalnego oraz aktywności zawodo...

The study provides some quantitative information on voluntary pension plans in 10 CEE countries obtained from various local sources. The comparative analysis shows that there is a considerable variation in this group in terms of participation and contributions to the voluntary pension plans. In addition, this study empirically examines several fact...

This study focuses on the role of the retirement motive for saving behaviour. It examines empirically the research hypothesis that controlling for a set of economic and sociodemographic individual characteristics, households reporting the retirement motive are more likely to have higher savings compared to households driven exclusively by other mot...

Artykuł opublikowany w trybie open access na stronie czasopisma "Ekonomista": http://www.ekonomista.info.pl/openaccess/?rok=2018&nr=1&strona=68&sw=1920 Abstract: The study tries to verify whether the behavioural bias called myopia actually exists in pension decisions taken by individual agents, thus justifying significant state involvement in a pe...

This theoretical paper seeks to develop the general concept of intergenerational fairness at the macro and micro scale which could be a background for further empirical analyses in this field, including especially some quantitative studies. First, the micro-scale and macro-scale definitions of generation are explained, and the concept of intergener...

The study aims at empirical verification of the quality of pension system clustering based on two dimensions: the extent of involvement of the state in the pension system and the level of voluntariness. To answer the question of whether these two dimensions actually determine the division into homogeneous groups that constitute pension regimes, Ken...

This paper focuses on issues related to the role of voluntary schemes in a pension system in contrast to mandatory funded schemes. First, different classifications of multipillar pension systems are compared. The role and the place of voluntariness are analysed in the existing pension system typologies. Second, it discusses the justification for im...

As a result of deteriorating demographics and associated fiscal problems, many European countries face reforms that are believed to reduce pension system generosity. However, despite the fact that generosity is a term that is very often used in reference to the social policy outcomes, the current literature does not define it precisely, relying ins...

In our study, we verify whether myopia exists and, therefore, justifies significant state involvement in a pension system. We examine the relationship between agent participation in voluntary pension schemes and some pension system features regarding its public and mandatory character as well as its current and predicted generosity. Our empirical r...

In the paper we present a new typology of pension regimes based on two main dimensions: the extent of involvement of the state and the market, and the role of voluntary schemes. We propose three theoretical pension regimes. The study proves that our theoretical typology is also consistent with empirical pension systems in OECD countries. In order t...

The study attempts to assess the effects of lifting short sale restrictions on the Warsaw Stock Exchange in terms of futures pricing effi ciency. The approach implemented in the article involves evaluation and comparison of the mispricing series of the WIG20 index futures listed on the WSE, in a one-year time span before and after the regulatory ch...

Pension systems are usually evaluated from the perspective of two basic criteria: pension adequacy and financial sustainability. The first criterion concerns the level of pension benefits and protection of the elderly from poverty. The second criterion applies to financial liquidity. This paper is primarily of methodological nature. We discuss the...

The main aim of this study is to compare and assess tendencies in the pension systems in the Czech Republic, Estonia, Hungary, Poland, Slovakia and Slovenia in respect to the level of intra-generational redistribution. They are examined form the current workers' perspective as well as from the current pensioners' perspective. First, the paper discu...

In the paper we present a new typology of pension regimes based on two main dimensions: the extent of involvement of the state and the market, and the role of voluntary schemes. We propose three theoretical pension regimes. The study proves that our theoretical typology is also consistent with empirical pension systems in OECD countries. In order t...

available at: http://cybra.lodz.pl/dlibra/docmetadata?id=13806&from=publication

The study aims at empirical verification of the quality of the pension systems clustering based on two dimensions: the extent of involvement of the state in the pension system and the level of voluntariness. In order to answer the question whether these two dimensions actually determine the division into homogeneous groups that constitute pension r...

Abstract The aim of this article is to measure and evaluate the similarity of the Polish open pension funds (OPFs) due to their investment performance, portfolio structure and fees charged. The legislative changes that took place in 2014, concerning the operation of pension funds, were the direct motivation for this study. The most important ones a...

Considering the most recent changes in the pension systems in Europe, this article aims to evaluate whether there is any relationship between the employment rates of older cohorts and the employment and unemployment rates in the youngest cohorts of a productive age. Its key finding is that there is no evidence that would indicate that the lower pro...

In our paper, we discuss pension expenditure as one of the main indicators of pension system sustainability. However, given the large demographic diversity between the European countries, public spending on pensions is hard to compare. We proposed two alternative indicators visualising the level of pension expenditure. The first is the quotient of...

available at: http://cybra.p.lodz.pl/dlibra/docmetadata?id=7597&from=publication Abstract The financial crisis, which began in 2008, induced changes in long-term social and economic policies. Many European countries have gradually been withdrawing from reforms aimed at the financial character of their pension systems. Pension systems have begun to...

Lack of short sale constrains is believed to be a relevant feature of the mature markets, as they have significant influence on the efficiency of the strategies conducted on both – spot and futures markets. Prior to July 2010 the regulations for short sale on Polish Stock Exchange were very restrictive, and the changes were highly expected by inves...

The aim of the paper is to investigate the mutual linkages between spot and futures markets on Warsaw Stock Exchange. The object of the analysis is intraday data of WIG20 index and WIG20 index futures. In order to examine the causality the Vector AutoRegression analysis and Error Correction Models are employed.

The purpose of this article is to analyze the similarity of structures of OPFs investment portfolios and the dynamics of the similarity in the period of the Warsaw Stock Exchange downturn in 2007-2008. Research was conducted using the taxonomic method of measuring the similarity of objects: distance matrix and hierarchical agglomeration method. Stu...

In the paper it was analyzed how the capital gathered in the open pension funds (OPFs) depends on the nominal rate of return, and the value of monthly salary index in the enterprise sector as well as the average amount of fee paid by members of OPF. On this basis, the forecasts of the nominal rate of return and the salary index were made for the pe...

In this paper we consider the problem of calculating the resultant and individual effectiveness of Open Pension Funds. In the Polish law there exists a definition of the average rate of return of a group of pension funds which, as it was proved by Gajek and Kałuszka (2000), does not satisfy some economic postulates. These authors proposed another d...

This paper presents and compares 15 trading systems constructed for the Warsaw Stock Exchange futures contracts. These trading systems are constructed applying technical analysis and artificial neural networks (ANN). The efficiency of constructed trading systems is measured by the profit, which could be gained on the analyzed market when an investo...