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PurposeMilk is one of the most produced, consumed and protected agricultural commodities worldwide. The purpose of this paper is to assess how trade-opening policies can foster food security in the Chinese milk sector.Design/methodology/approachThe empirical evidence proposed in our paper is based on time series data from the National Bureau of Statistics of China (2019) and FAOSTAT (2020). Differences in income elasticity between urban and rural areas are estimated by OLS regressions. The data also provide empirical evidence to assess to what extent and to which countries China is resorting to meet its growing demand.FindingsPer-capita milk consumption of Chinese is rising. The authors’ estimates show that milk income elasticity is higher in rural areas. China is also progressively increasing its dependence on imports. Producers who benefit the most are those from countries implementing trade-opening policies.Research limitations/implicationsOther methods could be applied, by way of example, the gravitational model.Practical implicationsTrade agreements and the removal of barriers could be effective responses to protectionist pressures and to food security concerns.Social implicationsThe case examined is of particular interest as it intervenes on food security and safety.Originality/valueThe paper adds value and evidence to the effects of trade on food security in a country with limited and exploited natural resources addressing a health emergency and environmental concerns.

The pursuit of tourism activities represents an important contributor to individuals’ well-being in older age. While current generations of pensioners enjoy on average unprecedented levels of financial resources, a large amount of spare time, and often retire while still in good health, the onset of disability and financial constraints might hinder the pursuit of tourism. The paper uses data drawn from a large Italian population survey, “Perspectives on daily life”, and provides empirical evidence on the probability of undertaking tourism in older age and the role of personal charachteristics acting as triggers and barriers to tourism. Results indicate the existence of a strong socioeconomic gradient in tourism, with worse-off individuals less likely to undertake the activity. Also, disability represents a barrier to tourism, although lower for individuals living in a couple. Finally, sociability and engagement in reading act as triggers to tourism.

This paper analyses the effect of retirement on the familiarity with Information and Communication Technology (ICT) of older individuals. We argue that inability to cope with ICT might represent a threat for older individuals’ social inclusion. To account for the potential endogeneity of retirement with respect to familiarity with ICT, we instrument retirement decision with the age-eligibility for early and statutory retirement pension schemes. Using data from the Survey of Health, Ageing and Retirement in Europe, we show that retirement reduces the computer literacy and the frequency of internet utilization for men and women. This finding is robust to the inclusion as control factors of health, cognition and social network indicators, which the literature has shown to be affected by retirement. Overall, the reduction in the familiarity with ICT after retirement tends to be stronger in the long-run.

We study whether mothers’ labor supply is shaped by the gender role attitudes of their peers. Using detailed information on a sample of UK mothers with dependent children, we find that having peers with gender-egalitarian norms leads mothers to be more likely to have a paid job and to have a greater share of the total number of paid hours worked within their household, but has no sizable effect on hours worked. Most of these effects are driven by less educated women. A new decomposition analysis allows us to estimate that approximately half of the impact on labor force participation is due to women conforming gender role attitudes to their peers’, with the remaining half being explained by the spillover effect of peers’ labor market behavior. These findings suggest that an evolution towards gender-egalitarian attitudes promotes gender convergence in labor market outcomes. In turn, a careful dissemination of statistics on female labor market behavior and attitudes may facilitate this evolution.

This paper analyzes the effect of work disability on the job involvement of workers aged 50–65 living in Europe. We elicit a measure of job involvement from a question asking respondents to think about their job and declare whether they would like to retire as early as they can. We exploit objective health indicators and anchoring vignettes to enhance the comparability across individuals of work disability self-assessments. Individuals’ evaluations of their health-related work limitations are found to be mildly affected by justification bias but to depend on individual heterogeneity in reporting behaviour. Work disability significantly reduces the job involvement of workers. After controlling for individual fixed-effects and an extensive set of time-varying covariates, moving from the first to the third quartile of the work disability distribution is associated with a 8% increase (4 percentage points) in the probability of desiring to retire as soon as possible. The effect is larger for blue-collar workers. Justification bias and heterogeneity in reporting behaviour do not alter the magnitude of these effects. 1

This paper analyzes the relationship between dispositional optimism and stock investments, controlling for cognitive skills and personality traits such as trust, social interactions and risk aversion. We use data from the Survey of Health, Ageing and Retirement in Europe (SHARE) on investors aged 50+ in twelve European countries. Our results show that dispositional optimism and personality matter for financial decisions. Optimism is positively and significantly related to both the ownership of stocks and the share of gross financial wealth invested in these assets and its role is especially relevant for risk tolerant investors and investors with little trust in others.

Based on a sample of university students, we provide evidence that a small-scale training intervention has both a statistically and economically significant effect on subjective and objective assessments of financial knowledge. We also show that the intervention increases self-assessed more than actual financial knowledge. The intervention consists of measuring financial literacy before and after a small on-line course and is administered through an on-line platform.

We investigate the happiness variations associated with divorce by drawing data from a retrospective panel dataset based on the third wave of the Survey of Health, Ageing and Retirement in Europe (SHARE) and covering 14 European countries. This dataset proposes as a powerful tool to control for reporting style heterogeneity in happiness self-evaluations. Indeeda, in addition to individual fixed-effects, we control for full migration trajectories in order to remove bias in well-being evaluations produced by cross-country heterogeneity in the cultural norms and societal values individuals have been exposed during their life-cycle. Happiness is found to increase in the period after divorce for both men and women. We show that this pattern goes through a decrease in stress and financial hardship.

We present novel estimates of Social Security Wealth (SSW) at the individual level based on the SHARE survey. Our estimates are based on a rigorous methodology taking into account country-specific legislations, the earnings history and the longevity prospects of individuals. The key advantage over existing estimates is that our measures of SSW is fully comparable across countries. This allows us to construct several indexes of the redistribution enacted by the pension systems in Europe. Moreover, simple correlations between SSW and alternative measures of private wealth are presented to provide descriptive evidence of the displacement effect of SSW on private wealth.

In the 1950s the People’s Republic of China introduced a household registration system to keep under control the internal migration from rural to urban areas. This registration system is called hukou system. All Chinese citizens are classified as either urban or rural hukou holders with limited possibilities of changing their status. Having an urban or rural hukou is a key determinant of the quality of the social policies provided to citizens. Social policies designed for urban hukou holders are based on the availability of higher levels of economic resources. There is a wide literature showing that China presents stark differences between rural and urban areas in well-being indicators and these differences always suggest better quality of life in urban areas. This chapter contributes to the literature that investigates the determinants of these differentials by documenting the different social policies individuals with rural and urban hukou have been eligible to since the hukou system introduction. We will offer an overview of the main features of the social policy schemes with respect to education, health care, income protection, housing and pensions that are designed for rural and urban individuals.

In this paper, we analyze the effect of work disability on the desire to retire as soon as possible of older workers. We exploit objective health indicators and anchoring vignettes to develop work disability measures enhancing the comparability across individuals of work disability self-assessments. Our results show that, even once controlling for individual fixed-effects, individuals experiencing work limiting health problems are found to have a stronger propensity to retire. The role of work disability in determining retirement intentions varies with earnings and job characteristics.

International audience; Our empirical analysis studies the impact of computer use on out of employment transitions of older workers, disentangling the effect of using a PC at work from that of being PC literate. Data are drawn from the 2000, 2002 and 2004 waves of the Bank of Italy Survey on Household Income and Wealth. We provide empirical evidence that, even controlling for a wide set of covariates, older employees who use a PC at work have a higher probability of remaining employed in the future. However, our results also indicate that, once PC literacy is controlled for, the use of a PC at work decreases only marginally the risk of becoming not employed (i.e. the effect is smaller than the one registered when we do not control for PC literacy)

In this paper we investigate how age affects the self-reported level of life satisfaction among the elderly in Europe. By using a vignette approach, we find evidence that age influences life satisfaction through two counterbalancing channels. On the one hand, controlling for the effects of all other variables, the own perceived level of life satisfaction increases with age. On the other hand, given the same true level of life satisfaction, older respondents are more likely to rank themselves as "dissatisfied" with their life than younger individuals. Detrimental health conditions and physical limitations play a crucial role in explaining scale biases in the reporting style of older individuals.

Descriptive evidence shows that there is large cross-country variation in self-reported work disability rates of the elderly in Europe. In this paper we analyse whether these differences are genuine or they just reflect heterogeneity in reporting styles. To shed light on the determinants of work-disability differentials across countries, we combine a wide set of individuals' socioeconomic and health status characteristics with macro-economic indicators describing the institutional background of the country of residence.

Summary We investigate the role of response consistency in the dynamics of reporting work disability. Using the 2004 and 2006 waves of the Survey of Health, Ageing and Retirement in Europe, we document that in Europe surprisingly large fractions of individuals change their self-reported disability status within 2 years. We find that these dynamics can be largely explained by the fact that respondents change the way that they evaluate the severity of work disability problems over time.

Based on a sample of university students, we provide field and laboratory evidence that a small scale training intervention has a both statistically and economically significant effect on subjective and objective assessments of financial knowledge. We also show that for a large part of students whose self-assessed financial knowledge has improved we do not find an increase in their actual skills.

A multidimensional poverty assessment requires a weighting scheme to aggregate the well-being dimensions considered. We use Alkire and Foster’s J. Public Econ. 95, 476–487 (2011a) framework to discuss the channels through which a change of the weighting structure affects the outcomes of the analysis in terms of overall poverty assessment, its dimensional and subgroup decomposability and policy evaluation. We exploit the Survey on Health, Ageing and Retirement in Europe to evaluate how alternative weighting structures affect the measurement of poverty for the population of over-50s in ten European countries. Further, we show that in our empirical exercise the results based on hedonic weights estimated on the basis of life satisfaction self-assessments are robust to the presence of heterogeneous response styles across respondents.

In most European countries life insurance has played a key role in household portfolios, to the extent that it has often been the first asset ever purchased. In this paper we use life history data from a host of European countries to investigate the role of life insurance investment in shaping individuals’ attitudes towards participation in stocks and mutual funds. We show that individuals who purchased a life insurance policy are more likely to invest in stocks and mutual funds later. On the one hand, these findings support the notion that life insurance policies play an educational role in financial investment. On the other hand, they are also consistent with behavioural models where economic agents are first concerned with avoiding unacceptable adverse scenarios by purchasing low risk investments, such as life insurance policies, and then invest in riskier assets, such as stocks and mutual funds, to obtain higher economic returns.

Parental socio-economic background plays an important role in determining employment outcomes during the individual’s whole life-cycle. Indeed, the environment in which individuals grow up plays a crucial role in determining their later socio-economic condition, regardless of their own abilities. On the one hand, this link might be due to the transmission of social norms (e.g. work ethics) or risk attitudes from parents to children. On the other hand, public policies may strengthen or weaken cross-generational persistence in the socio-economic status.

Limited use of financial markets is associated with financial distress later in life (Angelini et al. 2009). Such limited use may be the result of choice, or, more likely, it may be due to some impediment.

In this paper we investigate the role of response styles in the dynamics of work disability reporting. Using the 2004 and 2006 waves of the Survey of Health, Ageing and Retirement in Europe (SHARE), we document that in Europe surprisingly large fractions of individuals change their self-reported disability status within two years. We find that this dynamics can be largely explained by the fact that respondents change the way they evaluate the severity of work disability problems over time.

This empirical analysis investigates how the labor supply dynamics of married workers aged 46-65 is influenced by their own health conditions and by those of their cohabiting partners. Exploiting the information conveyed by the European Community Household Panel (1995-2001), our econometric specifications focus on the transition towards not employment within the next year and use alternative health indicators to describe the overall physical and mental conditions of couple members. We also control for partners labor supply because of its close relationship with their own health and the well-documented coordination with the labor market position of the other couple member. Our results show that while healthier individuals present higher chances of remaining at work in the future, living with healthier spouses affects positively the likelihood of ceasing from work. Finally, when the spouse is employed, the probability of keeping on working is estimated to rise. This last result upholds the hypothesis, suggested by the literature, that couple members prefer to spend their time in the same employment status.