Demographic Change, Social Security Systems, and Savings

Abstract In theory, improvements in healthy life expectancy should generate increases in the average age of retirement, with little effect on savings rates. In many countries, however, retirement incentives in social security programs prevent retirement ages from keeping pace with changes in life expectancy, leading to an increased need for life-cycle savings. Analyzing a cross-country panel of macroeconomic data, we find that increased longevity raises aggregate savings rates in countries with universal pension coverage and retirement incentives, though the effect disappears in countries with pay-as-you-go systems and high replacement rates.

Secure Virtualised Environment

Cloud computing is a technological advancementthat provide resources through internet on pay-as-you-go basis.Cloud computing uses virtualisation technology to enhance theefficiency and effectiveness of its advantages. Virtualisation isthe key to consolidate the computing resources to run multiple instances on each hardware, increasing the utilization rate of every resource, thus reduces the number of resources needed to buy, rack, power, cool, and manage. Cloud computing has very appealing features, however, lots of enterprises and users are still reluctant to move into cloud due to serious security concerns related to virtualisation layer. Thus, it is foremost important to secure the virtual environment.In this paper, we present an elastic framework to secure virtualised environment for trusted cloud computing called Server Virtualisation Security System (SVSS). SVSS provide security solutions located on hyper visor for Virtual Machines by deploying malicious activity detection techniques, network traffic analysis techniques, and system resource utilization analysis techniques.SVSS consists of four modules: Anti-Virus Control Module,Traffic Behavior Monitoring Module, Malicious Activity Detection Module and Virtualisation Security Management Module.A SVSS prototype has been deployed to validate its feasibility,efficiency and accuracy on Xen virtualised environment.

The Brazilian social security program:diagnosis and proposal for reform

The Brazilian pay-as-you-go social security program is analyzed in a historical perspective. Its contribution to income inequality, and the role played by the inflation as a balancing variable are discussed. It is shown that budgetary constraints due to the increasing informalization of the labor force can no longer be reconciled with protligate eligibility criteria. A tailor-made proposal for reform is presented as well as a plan for financing the transition from today's system to the proposed one.

Previdencia social no Brasil: por uma reforma mais duradoura

A reforma da previdência social tem sido uma preocupação de vários países: tanto no mundo desenvolvido como no em desenvolvimento. A motivação básica é o esgotamento do modelo de repartição, devido a fatores demográficos: queda de natalidade e aumento da longevidade. Analisando o fenômeno do esgotamento, o artigo propugna pela adesão, tal como no bem sucedido caso chileno, do sistema de capitalização.

A Previdência Social Brasileira após a transição demográfica: simulações de propostas de reforma

É consenso que as tendências demográficas de longo prazo estão por trás da deterioração das contas previdenciárias na grande maioria dos países do globo. O problema se agrava no Brasil, pois a informalidade do mercado de trabalho exclui milhões de potenciais contribuintes do regime de repartição. O trabalho mensura, através de simulações de um modelo de longo prazo, qual o impacto fiscal das mudanças introduzidas pela transição demográfica. E, admitindo a persistência dessa nova estrutura etária no país, simula quais propostas de reforma da previdência têm maior resultado na redução dos déficits atualmente registrados no INSS. Dentre as principais conclusões estão: (i) a transição demográfica sozinha é responsável por quase dobrar a alíquota previdenciária necessária para equilibrar o sistema, e; (ii) apesar de ser extremamente importante aprovar as propostas de reforma tradicionais (instituição de idade mínima, taxação dos inativos e mudanças nas regras de cálculo dos benefícios), aumentar a cobertura do regime de repartição através da inclusão dos aproximadamente 45 milhões de trabalhadores informais não-contribuintes reduz déficits em magnitude semelhante.

Public debt and the limits of fiscal policy to increase economic growth

Research that seeks to estimate the effects of fiscal policies on economic growth has ignored the role of public debt in this relationship. This study proposes a theoretical model of endogenous growth, which demonstrates that the level of the public debt-to-gross domestic product (GDP) ratio should negatively impact the effect of fiscal policy on growth. This occurs because government indebtedness extracts part of the savings of the young to pay interest on the debts of the older generation, who are no longer saving. Therefore, the payment of debt interest assumes an allocation exchange role between generations that is similar to a pay-as-you-go pension system, which results in changes in the savings rate of the economy. The major conclusions of the theoretical model were tested using an econometric model to provide evidence for the validity of this conclusion. Our empirical analysis controls for timeinvariant, country-specific heterogeneity in the growth rates. We also address endogeneity issues and allow for heterogeneity across countries in the model parameters and for cross-sectional dependence.

Pension reform in Europe in the 90's and lessons for Latin America

Includes bibliography

Transitional fiscal costs and demographic factors in shifting from unfunded to funded pensions in Latin America

Includes bibliography

Pension system reforms, the capital market and saving

Includes bibliography

Social security reforms and their implications for the Caribbean

Includes bibliography

The Retirement Behaviour of Older Workers in Transitional Economies

Research has shown that public pay-as-you-go, defined-benefit pension plans penalise those who stay at work beyond a certain age by reducing the present discounted value of future retirement benefits. In discussions on the effectiveness of policies aimed at eliminating the age-dependency factor in workers' decisions to retire, it is often assumed either that the benefits in all future periods have the same weight in the present discounted value or that the discount rate is close to unity due to low real interest rates used in this case. Galuscak first considered the U.S. pension scheme, showing that discounting plays a crucial role since the formula for the present discounted value of future retirement benefits is sensitive to the discount rate used. He then analysed the role of social security incentives and retirement provisions on older workers' behaviour in the labour markets of the Czech and Slovak Republics and the effect of the macroeconomic environment on workers' decisions to retire. He calculated the optimal parameters of the Czech and Slovak pension rules and assessed the potential effectiveness of changes to the Czech scheme introduced in January 1996.

Mobile Cloud Networking: Virtualisation of Cellular Networks

Virtualisation of cellular networks can be seen as a way to significantly reduce the complexity of processes, required nowadays to provide reliable cellular networks. The Future Communication Architecture for Mobile Cloud Services: Mobile Cloud Networking (MCN) is a EU FP7 Large-scale Integrating Project (IP) funded by the European Commission that is focusing on cloud computing concepts to achieve virtualisation of cellular networks. It aims at the development of a fully cloud-based mobile communication and application platform, or more specifically, it aims to investigate, implement and evaluate the technological foundations for the mobile communication system of Long Term Evolution (LTE), based on Mobile Network plus Decentralized Computing plus Smart Storage offered as one atomic service: On-Demand, Elastic and Pay-As-You-Go. This paper provides a brief overview of the MCN project and discusses the challenges that need to be solved.

Streaming Support for Data Intensive Cloud-Based Sequence Analysis

Cloud computing provides a promising solution to the genomics data deluge problem resulting from the advent of next-generation sequencing (NGS) technology. Based on the concepts of “resources-on-demand” and “pay-as-you-go”, scientists with no or limited infrastructure can have access to scalable and cost-effective computational resources. However, the large size of NGS data causes a significant data transfer latency from the client’s site to the cloud, which presents a bottleneck for using cloud computing services. In this paper, we provide a streaming-based scheme to overcome this problem, where the NGS data is processed while being transferred to the cloud. Our scheme targets the wide class of NGS data analysis tasks, where the NGS sequences can be processed independently from one another. We also provide the elastream package that supports the use of this scheme with individual analysis programs or with workflow systems. Experiments presented in this paper show that our solution mitigates the effect of data transfer latency and saves both time and cost of computation.

A Case for CDN-as-a-Service in the Cloud: A Mobile Cloud Networking Argument

Content Distribution Networks are mandatory components of modern web architectures, with plenty of vendors offering their services. Despite its maturity, new paradigms and architecture models are still being developed in this area. Cloud Computing, on the other hand, is a more recent concept which has expanded extremely quickly, with new services being regularly added to cloud management software suites such as OpenStack. The main contribution of this paper is the architecture and the development of an open source CDN that can be provisioned in an on-demand, pay-as-you-go model thereby enabling the CDN as a Service paradigm. We describe our experience with integration of CDNaaS framework in a cloud environment, as a service for enterprise users. We emphasize the flexibility and elasticity of such a model, with each CDN instance being delivered on-demand and associated to personalized caching policies as well as an optimized choice of Points of Presence based on exact requirements of an enterprise customer. Our development is based on the framework developed in the Mobile Cloud Networking EU FP7 project, which offers its enterprise users a common framework to instantiate and control services. CDNaaS is one of the core support components in this project as is tasked to deliver different type of multimedia content to several thousands of users geographically distributed. It integrates seamlessly in the MCN service life-cycle and as such enjoys all benefits of a common design environment, allowing for an improved interoperability with the rest of the services within the MCN ecosystem.

Cloud-based Orchestration of Multimedia Services and Applications

The Mobile Cloud Networking project develops among others, several virtualized services and applications, in particular: (1) IP Multimedia Subsystem as a Service that gives the possibility to deploy a virtualized and on-demand instance of the IP Multimedia Subsystem platform, (2) Digital Signage Service as a Service that is based on a re-designed Digital Signage Service architecture, adopting the cloud computing principles, and (3) Information Centric Networking/Content Delivery Network as a Service that is used for distributing, caching and migrating content from other services. Possible designs for these virtualized services and applications have been identified and are being implemented. In particular, the architectures of the mentioned services were specified, adopting cloud computing principles, such as infrastructure sharing, elasticity, on-demand and pay-as-you-go. The benefits of Reactive Programming paradigm are presented in the context of Interactive Cloudified Digital Signage services in a Mobile Cloud Platform, as well as the benefit of interworking between different Mobile Cloud Networking Services as Digital Signage Service and Content Delivery Network Service for better performance of Video on Demand content deliver. Finally, the management of Service Level Agreements and the support of rating, charging and billing has also been considered and defined.