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Declining labor force participation of older men throughout the 20th century and recent increases in participation have generated substantial interest in understanding the effect of public pensions on retirement. The National Bureau of Economic Research's International Social Security (ISS) Project, a long-term collaboration among researchers in a dozen developed countries, has explored this and related questions. The project employs a harmonized approach to conduct within-country analyses that are combined for meaningful cross-country comparisons. The key lesson is that the choices of policy makers affect the incentive to work at older ages and these incentives have important effects on retirement behavior.
In international arbitration, arbitrators must often navigate a complex maze of norms from different legal systems. The arbitrators’ decision on which of these legal norms apply to the merits of the proceedings can have far-reaching consequences.
Party autonomy is often said to be the backbone of international arbitration. This liberalist thinking rests upon the premise that arbitration is a dyadic process between two rational parties. On this view, party autonomy is not only the source of any arbitral tribunal’s adjudicatory authority; it also allows the parties to decide how that adjudicatory authority is to be exercised.