Beyond its negative impact on the employment rate of elder workers, we show in this paper that a short distance to the retirement age explains also the low investment in training. This supports the policies enlarging the retirement age: an increase of the incentive to delay the retirement age...

We extend McCall?s [1970] job search model by explicitly integrating life-cycle features and retirement decisions. Using simulations, we show that the effective tax on continued activity caused by the French social security system in conjunction with the generosity of unemploymentn benefits for...