https://hdl.handle.net/10419/128154 Fri, 23 Oct 2026 11:56:05 GMT 2026-10-23T11:56:05Z https://hdl.handle.net/10419/179704 Title: The impact of pension system reform on projected old-age income: The case of Poland Authors: Jarocinska, Elena; Ruzik-Sierdzińska, Anna Abstract: This paper analyses the distributional effects of the Polish old-age pension reform introduced in 1999. Following a benchmark Mincer earnings equation, and using a newly developed microsimulation model we project future pension benefits for males born in years 1969-1979. We find that inequality of predicted first pension benefits measured by the Gini coefficient increases from 0.119 to 0.165 for cohorts of men retiring between 2036 and 2046. The observed increased inequality of pension benefits is due to the decreasing share of initial capital that is based on a more generous DB formula in the total accumulated pension capital. At the same time, inequality in replacements rates decreases due to a stronger link between contributions paid through the entire working life and pension benefits. Fri, 01 Jan 2016 00:00:00 GMT https://hdl.handle.net/10419/179704 2016-01-01T00:00:00Z https://hdl.handle.net/10419/179702 Title: Interaction between monetary policy and bank regulation: Lessons for the ECB Authors: Dąbrowski, Marek Abstract: The European Central Bank (ECB) recently became engaged in macro-prudential policies and the micro-prudential supervision of the largest Euro area banks. These new tasks should help complete financial integration, and make the Euro area more resilient to financial instability risks. However, the multiplicity of mandates and instruments involves a risk of their inconsistency which could compromise the ECB's core price-stability mandate as well as its independence. The experience of central banks during the recent global financial crisis confirms that such risks are not purely hypothetical. Fri, 01 Jan 2016 00:00:00 GMT https://hdl.handle.net/10419/179702 2016-01-01T00:00:00Z https://hdl.handle.net/10419/179707 Title: Pension reform in Belarus in the shadow of social Europe: Vulnerability issues of people aged 50+ and points for improvement Authors: Naūrodski, Sierž Abstract: The policy brief presents a review of potential effects of parametric pension reform in Belarus starting in 2017 for the population aged 50 and more in terms of unemployment, alcohol consumption, and poverty. It concludes that, despite the fact that raising the retirement age is overdue in Belarus to address demographic challenges, it may have a negative impact on the quality of life of people close to retirement age as well as a poorer GDP effect within current conditions on the labor market in Belarus. The paper presents a set of public policy improvement directions in Belarus, which could help mitigating vulnerability of the group 50+ during the pension reform. Fri, 01 Jan 2016 00:00:00 GMT https://hdl.handle.net/10419/179707 2016-01-01T00:00:00Z https://hdl.handle.net/10419/179705 Title: Study and reports on the VAT gap in the EU-28 member states: 2016 final report Authors: Poniatowski, Grzegorz; Bonch-Osmolovskiy, Mikhail; Belkindas, Misha Abstract: The analysis serves as the Final Report for the DG TAXUD Project 2015/CC/131, "Study and Reports on the VAT Gap in the EU-28 Member States", which is a follow up to the reports published in 2013, 2014, and 2015. In this report, estimates of the VAT Gap and the Policy Gap for the year 2014 are presented, as well as revised estimates for the years 2010-2013 "due to the transmission" of Eurostat national accounts from the ESA95 to the ESA10. This update covers Croatia, which was not included in the previous updates. While it was hoped that the update would also cover Cyprus, it has not been possible due to incomplete national accounts data. The VAT Gap is a measure of VAT compliance and enforcement that provides an estimate of revenue loss due to fraud and evasion, tax avoidance, bankruptcies, financial insolvencies, as well as miscalculations. It is defined as the difference between the amount of VAT collected and the VAT Total Tax Liability (VTTL), which is expressed in the report in bothabsolute and relative terms. The VTTL is the theoretical tax liability according to tax law, and is estimated using a "top-down" approach. Fri, 01 Jan 2016 00:00:00 GMT https://hdl.handle.net/10419/179705 2016-01-01T00:00:00Z