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.

MODULATED BACKSCATTER MICROWAVE SECURITY SENSOR

A system capable of deployment as a microwave security sensor which can automatically reject background clutter is presented. The principle of operation is based on analog homodyne detection using 1. Q single side-band down conversion of an AM backscattered modulating signal envelope. A demonstrator is presented which operates with a carrier frequency of 2 GHz and 500 KHz backscattered signal. When deployed in a multipath rich open plan office environment the S/N ratio obtained at the detection output was better than 20 dB at 20 in range with 20 dBm EIRP in a 2 MHz detection bandwidth despite the presence of time varying and static clutter. (C) 2009 Wiley Periodicals, Inc. Microwave Opt Technol Lett 51: 2492-2495, 2009; Published online in Wiley InterScience (www.interscience.wiley.com). DOI 10.1002/mop.24636