Europeans are living longer, and fewer now remain in the labour force as they grow older. Many European countries have responded to the ensuing financial pressure by reforming their public pension systems and health care programmes. There is considerable uncertainty as to the effects of these...

This paper looks at the relationship between the institutional design of the social security system and retirement from the labour force in three countries: Italy, Spain and the USA. Our works stresses the importance of dynamic incentives embedded in social security systems throughout the world...

This paper looks at the relationship between the institutional design of the social security system and retirement from the labour force in three countries: Italy, Spain and the USA. Our work stresses the importance of dynamic incentives embedded in social security systems throughout the world...

A "good" pension reform should address a number of issues. One important aspect is the financial soundness of the system, particularly in the light of the legacy that we leave to future generations. Policy makers should also address economic efficiency at two levels: no waste of resources for a...