Generous early retirement provisions account for a large proportion of the drop in the labour force participation of … retirement. We suggest that the political support for generous early retirement provisions relies on: (i) the existence of an … majority which supports a social security system with early retirement in a bidimensional voting game is composed of elderly …

Social Security programmes around the world link public pensions to retirement: people do not lose their pensions if … consistent with it. The main idea is that pensions are a means to induce retirement, that is, to buy the elderly out of the … labour force. The reason is that aggregate output is higher if the elderly do not work. This is modelled through positive …

The present Paper studies the retirement incentives for elderly people in Belgium. We model the incentive structure … built into the various public early retirement and retirement systems. First, we compute indicators of benefit entitlement … as of the implicit tax rates the elderly workers face in case of delayed retirement. We find strong evidence of social …

This paper studies the design of retirement and disability policies. It illustrates the often observed exit from the … labour force of healthy workers through disability insurance schemes. Two types of individuals, disabled and leisure …-prone ones, have the same disutility for labour and cannot be distinguished. However, they are not counted in the same way in …

Early retirement represents a policy response to the appearance of a mass of redundant middle-aged workers, who were … to retire early and to benefit from the early retirement pension. …

stagnation – characterized by decreasing labour income – may lead middle-aged individuals to postpone retirement. …We provide a long-term perspective on the individual retirement behaviour and on the future of early retirement. In a … cross-country sample, we find that total pension spending depends positively on the degree of early retirement and on the …

retirement period and the total pension benefits of the former relatively to the latter. This effect, whose empirical relevance …

During the period from 1880 to 1950 publicly managed retirement security programs became an important part of the …

It is often argued that the observed trend towards early retirement is due mainly to the implicit tax imposed on … age of retirement. The setting is a two-period overlapping generations model. Individuals differ in their productivity. In …