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  • 1
    Publication Date: 2014-04-04
    Description: Pension systems in European countries are under review due to demographic changes. As a solution to the graying population, second and third pillar pensions are advocated. However, it is important not to lose sight of the social consequences of encouraging these private pensions. In this master thesis the paradox of redistribution from Korpi & Palme (1998) is tested on two cases namely Belgium and the Netherlands. Based on micro data on household income as found in the LIS database, pensioners are compared on their poverty rates and inequality. The redistribution paradox states that poverty will be the highest in pension systems that are targeted and will be the lowest in universal systems. In Belgium (targeted minimum pension) poverty rates are much higher than in the Netherlands (universal minimum pension). Poverty rates are higher for elderly women than for elderly men and this gender difference is greater in the Netherlands than in Belgium. The paradox of redistribution further states that inequality will be higher when the first pillar provides flat-rate pensions and will be the lowest for wage coupled pensions that out compete more unequal private pension provisions. In the Netherlands (flat-rate pension), inequality is higher than in Belgium (wage coupled pension) when calculated on the basis of pension income. When disposable income is taken as reference than the inequality is slightly larger in Belgium than in the Netherlands. There is however a much larger reduction in inequality compared to pre-pensioned individuals in Belgium than in the Netherlands. The inequality in income is higher for men than for women both in Belgium and in the Netherlands. In order to minimize poverty and inequality, it is thus advised to further strengthen the pensions systems in both Belgium and the Netherlands not to reduce them.
    Keywords: ddc:330 ; paradox of redistribution ; poverty ; inequality ; Belgium ; the Netherlands ; pension system ; Gesetzliche Rentenversicherung ; Altersvorsorge ; Armut ; Soziale Ungleichheit ; Einkommensumverteilung ; Geschlecht ; Belgien ; Niederlande
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: Dutch
    Type: doc-type:workingPaper
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  • 2
    Publication Date: 2018-09-21
    Description: This paper is an annual publication issued by the Microeconomic Analysis service of the National Bank of Belgium. The Flemish maritime ports (Antwerp, Ghent, Ostend, Zeebrugge), the Autonomous Port of Liège and the port of Brussels play a major role in their respective regional economies and in the Belgian economy, not only in terms of industrial activity but also as intermodal centres facilitating the commodity flow. This update paper1 provides an extensive overview of the economic importance and development of the Flemish maritime ports, the Liège port complex and the port of Brussels in the period 2001 - 2006, with an emphasis on 2006. The port of Brussels has been included in the analysis for the first time. Focusing on the three major variables of value added, employment and investment, the report also provides some information about the financial situation in each port except for Brussels. These observations are linked to a more general context, along with a few cargo statistics. Annual accounts data from the Central Balance Sheet Office were used for the calculation of direct effects, the study of financial ratios and the analysis of the social balance sheet. The indirect effects of the activities concerned were estimated in terms of value added and employment, on the basis of data from the National Accounts Institute. In terms of quantity of cargo handled, 2006 was an excellent year for the Flemish maritime ports as a whole, driven by the world trade expansion. Direct value added rose in all Flemish port, except for Antwerp. Direct employment also increased, mainly in the maritime branches as a result of seaborne traffic growth. Investment on the other hand, took a downward plunge after the exceptionally high amounts in 2005. This was mainly due to a number of shipping companies and - to a lesser extent - the completion of the Deurganckdok in Antwerp. The current changes in world trade patterns have a substantial impact on the activities in the Flemish ports. To cope with the accelerating internationalisation of port competition and the tremendous growth of containerised seaborne transport, the ports need to constantly adapt their infrastructures, through innovation and investment. As major logistic centres, they have to face the challenge of responding to increasing demand in terms of capacity, while adding as much value as possible to the goods passing through them. To face this challenge, they try to focus on particular branches or aspects for which they believe they hold all the winning cards. This has become absolutely vital in a climate of growing regional and international competition, accentuated by the booming Asian economies. All figures indicate that the situation is improving for the port of Liège. The growth of value added, investment and quantity of cargo handled exceeds last year's figures. Employment still decreases but to a lesser extent. Moreover, the future is looking even brighter as the TriLogiPort project should begin to make progress, the blast furnace 6 of Arcelor in Seraing has been reopened, a new bioethanol plant is being built in Wanze and several works developing the infrastructure are being carried out. The last few years, the quantity of cargo handled at the port of Brussels has stabilised. In terms of land available for port related activities, the port of Brussels has reached its limits. As a result, the extension of the infrastructure is one of the main priorities, all the more because the port authority has set ambitious goals for the near future. The present report provides a comprehensive account of these issues, giving details per economic sector, though the comments are confined to the main changes that occurred in 2006.
    Keywords: C67 ; H57 ; J21 ; L22 ; L91 ; L92 ; R15 ; R34 ; R41 ; ddc:330 ; branch survey ; maritime cluster ; subcontracting ; indirect effects ; transport intermodality ; public investments.
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: Dutch
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  • 3
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    Leuven: Katholieke Universiteit Leuven, LICOS Centre for Institutions and Economic Performance
    Publication Date: 2019-02-04
    Description: De hoge (para)-fiscale druk in België wordt gezien als een belangrijke oorzaak van de hoge werkloosheidsgraad. Deze hoge werkloosheidsgraad gaat echter gepaard met een hoog aantal openstaande vacatures. Men kan zich dan ook de vraag stellen of verdere lastenverlagingen zullen bijdragen tot een vfirmindering van de werkloosheidsgraad. Deze studie beschrijft een eenvoudig maar realistisch kader waarbinnen de effecten van arbeidsmarktmaatregelen op de werkloosheid kunnen worden beschreven. Bij een vergelijking tussen België en Denemaken van de factoren die de werkloosheidsduur bepalen blijkt dat het Belgisch systeem van uitkeringen die niet beperkt zijn in de tijd de werkloosheidsduur significant verlengt.
    Keywords: ddc:330
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: Dutch
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  • 4
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    Brussels: National Bank of Belgium
    Publication Date: 2018-09-21
    Description: The Flemish maritime ports play a major role in the Belgian economy, not only in terms of the industries they encompass but also as intermodal centres where transhipment activities are concentrated. This update1 paper provides an extensive overview of the economic importance and development of the Flemish maritime ports, through revised results for the period 1997 - 2003. Focusing on the three major variables of value added, employment and investment, it also provides some information about the financial situation of a few vital sectors in each port. A global indication concerning the financial health of the companies studied is also provided, using the NBB bankruptcy prediction model. In addition, it includes figures with respect to the ongoing growth of several cargo traffic segments and provides an overall picture of social developments in the Flemish maritime ports. The indirect effects of these port activities are estimated in terms of value added and employment. Annual account data from the Central Balance Sheet Office were used for the calculation of direct effects, the study of financial ratios and the analysis of the social balance sheet. The indirect effects were estimated on the basis of data from the National Accounts Institute. In the Flemish maritime ports, direct VA came to almost 11.5 billion euro and total VA - the sum of direct and indirect VA - to 22 billion euro in 2003. In the same year direct and total employment reached respectively 105,000 and 239,000 full-time equivalents, while direct investment reached 2.5 billion euro. The ongoing developments in the maritime ports sector in the Hamburg - Le Havre range continue to affect the port operations: concentration of capital, privatisation of port logistic services, expansion and dispersion of foreign trade, internationalisation of production and consumption patterns, increase in containerised shipments, etc. Production, trade and transport are no longer considered as individual and isolated activities, but are integrated within a single system, while economies of scale continue. Therefore, ports are becoming real logistic centres: ports able to add value to the goods passing through the port area have a major advantage in a climate of increasing international competition. Flemish ports are following this trend, and that is also reflected in the analysis presented in this report.
    Keywords: C67 ; H57 ; J21 ; L22 ; L91 ; L92 ; R15 ; R34 ; R41 ; ddc:330 ; branch survey ; maritime cluster ; subcontracting ; indirect effects ; transport intermodality ; public investments. ; Hafen ; Branchenentwicklung ; Flandern ; Wirkungsanalyse
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: Dutch
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  • 5
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    Brussels: National Bank of Belgium
    Publication Date: 2018-09-21
    Description: This paper provides an extensive overview of the economic importance and evolution of the car manufacturing industry. In addition, it provides evidence that the car industry is still playing a vital role in process innovation. The currently widespread lean production method, under which companies focus on their core activities and develop a network of subcontractors, in fact originates from the Japanese car industry. The introduction of the "lean production" concept in Europe had a far-reaching impact on corporate relations. Important responsibilities - such as product development, quality control, innovation efforts and timely deliveries - have been/are passed on to the subcontractors. Company clusters have been formed, which often also have consequences in terms of geographical location due to the necessity of "just-in-time" or even "just-in-sequence"-deliveries. The mere fact that global companies have implemented this production method, also adds to the internationalization of the subcontracting companies. The latter conclusion fuelled/fuels the trend to anchor as it were the industrial core activities through an appropriate policy. Such a policy must be based upon reliable statistical observations. A major disadvantage, however, is that because of their network structure, the corporate clusters' importance is hard to measure. Since the input-output tables are not available for the very latest years, on the one hand, and are not sufficiently detailed, on the other hand, a method has been searched for which allows to gauge the importance of a specific branch. In this paper the method will be applied to the car manufacturing in Belgium. The proposed calculation method is based on the supply and use tables drawn up by the Bank within the framework of the National Accounts Institute.
    Keywords: C67 ; J21 ; L22 ; L62 ; R15 ; R34 ; ddc:330 ; branch survey ; car industry ; subcontracting ; indirect effects ; Kfz-Industrie ; Lean Production ; Just in Time ; Internationale Arbeitsteilung ; Multinationales Unternehmen ; Belgien
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: Dutch
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  • 6
    Publication Date: 2018-09-21
    Description: Given the importance of bank credit in Belgium as a financing source for both households and non-financial firms, it is important to know how Belgian banks react to a monetary policy shock. Since the direct influence of central banks is confined to the very short-term market interest rates, financial intermediaries play a very important role in the transmission of these shocks to the real economy. This paper therefore investigates the determinants of the rates charged by individual Belgian banks for a number of standardised forms of credit. The data used are mainly from a survey conducted by the National Bank of Belgium and relate to the period from January 1993 to September 2000. It is shown that Belgian banks set their credit rates as a stationary mark-up on top of the market interest rate with a maturity similar to the one of the credit contract. This mark-up seems to depend on a number of factors. First, it varies between the different forms of credit we studied in this paper. On average a higher rate is charged for those credit forms that are characterised by a longer maturity, a higher risk and/or a lower amount. Second, for a given form of credit the mark-up also varies across banks. Large and/or liquid banks tend to charge lower rates, whereas highly capitalised banks seem to charge higher rates. Third, the mark-up although stationary does change over time, decreasing with the business cycle and increasing with the cost of the bank's resources which are approximated in this paper by the rates paid by the bank on deposits and/or savings notes. This study indicates that especially the Belgian market for investment credits is characterised by a very tight competition. This conclusion follows from the fact that the mark-ups on these credits do not seem to be influenced by bank specific characteristics such as size, liquidity or capitalisation. Moreover, the mark-up does react strongly to monetary shocks and does have a significant impact on the demand, indicating that the demand for investment credits is very price elastic. On the Belgian markets for short-term credits, consumer credits and mortgage spread loans, however, the degree of competition seems to be lower. The mark-ups on these credit forms do depend on at least one of the bank characteristics used in this paper. Finally, especially the rates on short-term credits seem to react strongly to monetary shocks, a response which is positively related to the size of the bank.
    Keywords: ddc:330 ; Verbraucherkredit ; Zins ; Geldpolitik ; Schock ; Belgien
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: Dutch
    Type: doc-type:workingPaper
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