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Article
Publication date: 1 February 2002

Milan Vodopivec

Based on consecutive labor force surveys, this study examines labor market dynamics during the first decade of the Estonian transition to market. The results show that, similar to…

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Abstract

Based on consecutive labor force surveys, this study examines labor market dynamics during the first decade of the Estonian transition to market. The results show that, similar to other transition economies: Estonia’s employment and labor force was reduced; patterns of mobility profoundly changed – labor market flows intensified and previously nonexistent transitions emerged; and some groups of workers were disproportionally affected, chief among them the less educated and ethnic minorities. But Estonian fundamental free market reforms also produced labor market outcomes that differ significantly from those in other transition economies – above all, the intensity of worker and job flows in Estonia’s transition have surpassed those in most other transition economies. This was achieved by deliberate policies aimed at stimulating job creation and employment, above all by low employment protection and other policies geared toward increasing employability and strengthening the incentives of workers. Moreover, under the dynamic Estonian labor market adjustment, marginal groups have fared better than those in more protective labor markets of other transition economies.

Details

International Journal of Manpower, vol. 23 no. 1
Type: Research Article
ISSN: 0143-7720

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Available. Open Access. Open Access
Article
Publication date: 10 August 2020

David Bogataj, Valerija Rogelj, Marija Bogataj and Eneja Drobež

The purpose of this study is to develop new type of reverse mortgage contract. How to provide adequate services and housing for an increasing number of people that are dependent…

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Abstract

Purpose

The purpose of this study is to develop new type of reverse mortgage contract. How to provide adequate services and housing for an increasing number of people that are dependent on the help of others is a crucial question in the European Union (EU). The housing stock in Europe is not fit to support a shift from institutional care to the home-based independent living. Some 90% of houses in the UK and 70%–80% in Germany are not adequately built, as they contain accessibility barriers for people with emerging functional impairments. The available reverse mortgage contracts do not allow for relocation to their own adapted facilities. How to finance the adaptation from housing equity is discussed.

Design/methodology/approach

The authors have extended the existing loan reverse mortgage model. Actuarial methods based on the equivalence of the actuarial present values and the multiple decrement approach are used to evaluate premiums for flexible longevity and lifetime long-term care (LTC) insurance for financing adequate facilities.

Findings

The adequate, age-friendly housing provision that is appropriate to support the independence and autonomy of seniors with declining functional capacities can lower the cost of health care and improve the well-being of older adults. For financing the development of this kind of facilities for seniors, the authors developed the reverse mortgage scheme with embedded longevity and LTC insurance as a possible financial instrument for better LTC services and housing with care in assisted-living facilities. This kind of facilities should be available for the rapid growth of older cohorts.

Research limitations/implications

The numerical example is based on rather crude numbers, because of lack of data, as the developed reverse mortgage product with LTC insurance is a novelty. Intensity of care and probabilities of care in certain category of care will change after the introduction of this product.

Practical implications

The model results indicate that it is possible to successfully tie an insurance product to the insured and not to the object.

Social implications

The introduction of this insurance option will allow many older adult with low pension benefits and a substantial home equity to safely opt for a reverse mortgage and benefit from better social care.

Originality/value

While currently available reverse mortgage contracts lapse when the homeowner moves to assisted-living facilities in any EU Member State, in the paper a new method is developed where multiple adjustments of housing to the functional capacities with relocation is possible, under the same insurance and reverse mortgage contract. The case of Slovenia is presented as a numerical example. These insurance products, as a novelty, are portable, so the homeowner can move in own specialised housing unit in assisted-living facilities and keep the existing reverse mortgage contract with no additional costs, which is not possible in the current insurance products. With some small modifications, the method is useful for any EU Member State.

Details

Facilities, vol. 38 no. 9/10
Type: Research Article
ISSN: 0263-2772

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Article
Publication date: 1 June 2002

Robert D. Hisrich and Mateja Drnovsek

Interest in the field of entrepreneurship has significantly increased among academics, practitioners and government officials in the past decade both in the USA and in Europe. The…

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Abstract

Interest in the field of entrepreneurship has significantly increased among academics, practitioners and government officials in the past decade both in the USA and in Europe. The increased interest is reflected in the increased number of courses, majors and minors at colleges and universities throughout the world; the increased number of endowed chairs; the increased number of journals in the field; the increased coverage of the field by the media; and the increased interest in the provision of government support. In light of this significant increased interest, it is important to understand the state of research in the field in Europe in the last few years, the focus of this article.

Details

Journal of Small Business and Enterprise Development, vol. 9 no. 2
Type: Research Article
ISSN: 1462-6004

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