Purpose: The purpose of this paper is to examine whether cross-country differences in pensionable age explain such differences in economic activity of people at near-retirement age. Design/methodology/approach: The empirical study uses regression models for macro-panel encompassing 21 European...

Many countries all over the world have been facing the problem of deteriorating demographics, forcing reforms of the pension system model as well as its main parameters. An important perspective of the assessment of the financial sustainability of a pension system is the division of current GDP...