Filip Chybalski

• Professor
• Professor at Lodz University of Technology

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...

Spis treści Wstęp (Filip Chybalski) Część I. Ujęcie teoretyczne i metodyczne Rozdział 1. System emerytalny: definicje, cele, klasyfikacje (Filip Chybalski) Rozdział 2. Adekwatność dochodowa (Filip Chybalski) Rozdział 3. Efektywność (Filip Chybalski) Rozdział 4. Redystrybucja (Joanna Rutecka) Rozdział 5. Porządki emerytalne (Filip Chybalski) C...

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...

For several decades, pension systems across the world have been undergoing reforms. The main reasons for this are demographic changes and increasing life expectancy. To make these reforms more effective and ensure that they are based on the best benchmarks, the European Union (EU) has introduced the Open Method of Coordination (OMC) in the field of...

W monografii poruszono problematykę kształtowania wieku emerytalnego. Wychodząc od osadzenia parametru wieku emerytalnego w perspektywie mikro- i makroekonomicznej, jak i relacjach międzypokoleniowych, przeprowadzono analizę trendów wieku emerytalnego oraz dokonano oceny wpływu modelu systemu emerytalnego na ustawowy i efektywny wiek emerytalny. W...

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,...

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...

Although housing wealth in general, and own residence in particular, accounts for the greatest share in the household wealth composition irrespective of the country, the issue of housing as a source of additional income in kind is rarely addressed in the current literature. The study explores the distribution of imputed rental income among older ho...

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...

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...

Ageing process may affect intergenerational relations in different ways, including income distribution. Simultaneously, the global economy has undergone various crises. An important question is whether these crises impact the nexus between ageing and intergenerational income distribution. Finding an answer to this question is difficult in the liter...

Purpose The article examines the interplay between welfare state regimes and the distribution of welfare between generations. Design/methodology/approach Using data from 2017 for 24 European countries on six standard of living dimensions, the authors investigate the intergenerational welfare distribution in a two-stage procedure: (1) the authors c...

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...

In this study, panel regression models for 21 European countries and data covering the period between 2008 and 2014 were used to demonstrate that the distribution of working population across different occupational groups explains cross-country differences in terms of the average effective retirement age. Thus, while the great majority of previous...

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...

Purpose The purpose of this paper is to examine whether cross-country differences in pensionable age explain such differences in economic activity of people at near-retirement age. Design/methodology/approach The empirical study uses regression models for macro-panel encompassing 21 European countries in the period 2008–2014. Findings Empirical r...

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...

Many countries all over the world have been facing the problem of deteriorating demographics, forcing reforms of the pension system model as well as its main parameters. An important perspective of the assessment of the financial sustainability of a pension system is the division of current GDP among generations. This results from the macroeconomic...

This paper aims to use an effective retirement age as a proxy for the borderline between generations and verifies whether deteriorating demographics are a stimulating factor of quantitative relations between generations through retirement age policy. Regression models for cross-sectional time series covering 20 OECD countries in the period 1971–201...

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 Department of Management together with Pensions & Intergenerational Relations (PIR) Research Group functioning at Lodz University of Technology (Poland), Faculty of Management and Production Engineering, has been organizing Pensions Conference since 2009. The participants represent different universities, research institutions as well as financ...

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 paper seeks to conceptualize the term of intergenerational fairness with particular attention paid to possible comparative cross-country studies in this field that would aim at searching for the most efficient welfare policies serving for long-term equilibrium between generations in terms of well-being. According to the concept proposed, inter...

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...

In this paper we try to identify the most important dimensions of intergenerational fairness perceived mainly through the prism of economics. To achieve this goal, we first identify a methodological and empirical gap in a multidimensional approach to the measurement and evaluation of intergenerational fairness. Then, we indicate and characterize th...

Since pension systems have undergone reforms due to ageing populations, some changes linked to the relations between the objectives of pensions may also be expected. The two main social goals of pensions are poverty relief and consumption smoothing. In this paper the relationship between these two goals in 30 European countries using Eurostat data...

W opracowaniu omówiono problematykę uogólniania wyników analiz ilościowych z próby na populację, szczególną uwagę kierując na wykorzystanie metod wnioskowania statystycznego w naukach o zarządzaniu.

A praxeological approach has been proposed in order to improve a forecasting process through the employment of the forecast value added (FVA) analysis. This may be interpreted as a manifestation of lean management in forecasting. The author discusses the concepts of the effectiveness and efficiency of forecasting. The former, defined in the praxeol...

The paper addresses a very important topic of the inference from a sample to population, with a special attention paid to the application of statistical methods of inference in management science. The conditions and specifics of inference, random and non-random sampling techniques, the difference between results obtained from the population or from...

Goal: conceptualization of intergenerational fairness (IF) for cross-country analyses of different welfare state models Q1: What does actually the term “intergenerational” mean? Q2: What is intergenerational fairness from economic perspective?

Goal: To find a good theoretical framework for further empirical studies on retirement age in a cross-country perspective. Such studies may serve for identifying the main determinants of the effective retirement age (and answer the question if statutory retirement age is its main driver)

Cel opracowania: Ocena, czy model systemu emerytalnego oraz jego wybrane parametry wpływają na aktywność zawodową osób starszych.

Background. Change management is a demanding and complex concept, which has recently gained great popularity among organisations. The managers have become aware that change is the inevitable part of the business. Nevertheless, even if they are able to manage the change process properly, they often face a problem with the measurement of its results....

The paper seeks to answer the question whether the design or selected parameters of a pension system affect the participation of older people (around the retirement age) in labour market.

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 goal of the paper is to propose a praxeological approach to improve a forecasting process through employment of Forecast Value Added (FVA) analysis. This may be a manifestation of the lean management in forecasting. The author discusses the concepts of the effectiveness and efficiency of forecasting. The former, defined in the praxeology as the...

The paper discusses the issue of the adequacy and efficiency of European pension systems. The author perceives the adequacy and efficiency as multidimensional categories expressing the " goodness " of contemporary pension systems. Adequacy refers to the social aspect of pensions whereas efficiency reflects its economic conditions, however broadly u...

The paper discusses the very timely and important topic of retirement age. This problem seems to be crucial for contemporary pension reforms in many countries forced by deteriorating demographics. Many of them face the challenge of an increasing pensionable age, which usually meets with social resistance, although the economic reasoning for such a...

W monografii podjęto próbę wykorzystania danych statystycznych o systemach emerytalnych ok. 30 krajów europejskich do oceny ich adekwatności dochodowej, efektywności oraz redystrybucyjności. Zbadano również zależności między tymi kategoriami oraz ich zróżnicowanie w przekroju porządków emerytalnych, wyodrębnionych w oparciu o kryterium relacji międ...

Prezentacja zawiera syntetyczne podsumowanie badań zrealizowanych w ramach projektu badawczego pt. ”Adekwatność dochodowa, redystrybucja oraz efektywność w systemach emerytalnych. Analiza porównawcza z wykorzystaniem metod ilościowych” finansowanego przez NCN w ramach konkursu OPUS 5.

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 existing literature on the efficiency of pension system, usually addresses the problem between the choice of different theoretical models, or concerns one or few empirical pension systems. In this paper quite different approach to the measurement of pension system efficiency is proposed. It is dedicated mainly to the cross-country studies of em...

W 2014 roku wprowadzono kolejne zmiany w polskim systemie emerytalnym, będące kontynuacją zmian z 2011 roku, a jednocześnie istotnym zaprzeczeniem reformy emerytalnej z lat 1997-1999. Co prawda, system pozostał nadal oparty na modelu zdefiniowanej składki, niemniej stał się ponownie, niemal w całości, publiczny – zarówno w sensie zobowiązań emeryta...

Membership in open pension funds (OPFs) is mandatory for the citizens of Poland. People make two major decisions related to OPFs: concerning the initial choice of pension funds at the start of their professional career and, eventually, concerning the possibility of changing their pension fund. The aim of the paper is to analyze these decisions and...

http://www.ksiegarnia.beck.pl/ekonomia-finanse/id3911,Otwarte-fundusze-emerytalne-w-Polsce.html Polska reforma systemu emerytalnego, podobnie jak reformy w wielu innych krajach tej części Europy, czy też w ogóle na świecie, wymuszona została niekorzystnymi trendami demograficznymi i wyraźnym procesem starzenia się ludności. Dyskusja na temat zasadn...

The principal aim of this paper is to describe the process of liberalization of the pension systems in Central and Eastern Europe, in terms of both the basic system structure and the regulations applied in relation to pension funds. The following issues are addressed: the universality of participation in the various pillars of the pensions system,...

The paper presents a multidimensional approach to the adequacy of the pension system, recognising it as the most relevant in comparative analyses of pension systems, as well as more authoritative than a one-dimensional approach based exclusively on pensioners’ income calculated on the basis of the replacement rate. Adequacy of the pension system ca...

available at: http://cybra.lodz.pl/dlibra/docmetadata?id=6942 Abstract This paper concerns issues relating to the effectiveness and efficiency of old-age pension system, these being matters very rarely addressed in either the Polish or foreign literature. Taking as a starting point considerations of effectiveness and efficiency in economics, defin...

The main purpose of this paper is to identify and characterise the factors of uncertainty in forecasting the (in)solvency of a pension system based on the non-financial defined contribution model (NDC) and to evaluate the forecasting function of automatic balance mechanisms (ABM). The study is theoretical and empirical. It dismisses the hypothesis...

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...

The aim of the article is to systematize the results of the theoretical and empirical research in economics in the field of pension decisions and to assess the implications of that research for the Polish pension system and its reforms. The main premise to take up this problem is the fact that this important issue is largely neglected or marginaliz...

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...

The aim of the paper is to identify the main factors (apart from demographics) influencing the public expenditure on pensions in Europe. The main research question raised in the paper is: What are the most important factors affecting old-age pension expenditure? The work consists of two parts: a theoretical and an empirical one. The first one inclu...

Celem artykułu jest wskazanie i scharakteryzowanie najważniejszych uwarunkowań determinujących poziom niepewności w prognozowaniu dochodów emerytalnych. W artykule wykorzystano metody studiów literaturowych, opisową oraz eksplanacji (wyjaśnienia). Punktem wyjścia dla podjętych rozważań są dwie teorie ekonomiczne, traktujące o wygładzaniu przez jedn...

Streszczenie Celem artykułu jest analiza uwarunkowań konkurencji na rynku funduszy emerytalnych, ze szczególnym uwzględnieniem możliwych płaszczyzn tej konkurencji oraz determinujących je czynników na rynku OFE. W artykule omówiono kolejno: przesłanki oligopolistycznego charakteru rynku funduszy emerytalnych, uwarunkowania konkurencji na rynku fund...

The effectiveness and the effi ciency of pension system is a problem infrequently mentioned in scientifi c writing, especially in its praxiological context. The objective of the article is to present the concept of the praxiological approach to pension system assessment. In the fi rst part of the article the objectives of pension system has been pr...

During the present economic crisis, several CEE countries decided to reduce the pension contribution paid to the private 2nd pillar. It is an obvious retraction from the pension reforms initiated in the last decade. The aim of the article is to assess the resilience of pension systems in the CEE countries to financial and economic crisis. The thesi...

The aim of the article is to measure and assess the adequacy of European pension systems in the context of the Open Method of Coordination. The author attempts to answer the question whether or not it is possible to single out the most adequate and the least adequate pension regimes in Europe. The main criterion of regime classification is the rela...

W artykule podjęto problematykę modeli wynagradzania towarzystw emerytalnych. Dokonano ich charakterystyki ze szczególnym uwzględnieniem wrażliwości przychodów towarzystw emerytalnych na zmiany stóp zwrotu funduszy emerytalnych. W ostatniej części artykułu miejsce poświęcono analizie modeli wynagradzania towarzystw emerytalnych w krajach Europy Śro...

The last ten years of the 20th century was the decade of pension reforms in Central and Eastern European countries. A three-pillar pension system has been adopted in most of that countries, including Poland, where the second pillar is created by open pension funds (OFEs), managed by pension fund companies (PTEs). The aim of this article is to ident...

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...