Recent work on the theory of early retirement

Pension systems are often blamed for distorting the retirement age and they are held responsible for the widely observed trend towards early retirement. In a world of laissez-faire or in a first-best setting, there would be no such distortions. However, they may be unavoidable when first-best instru... Deskribapen osoa

Egile nagusia: Marie, Jean
Beste egile batzuk: Pestiau, Pierre, Cremmer, Helmuth
Formatua: Artikulua
Hizkuntza: Ingelesa
Argitaratua: Ministerio de Hacienda: Servicio de Publicaciones 2006
Gaiak:
Sarrera elektronikoa: http://dialnet.unirioja.es/servlet/oaiart?codigo=2228581
Etiketak: Erantsi etiketa bat
Etiketarik gabe, Izan zaitez lehena erregistro honi etiketa jartzen!
Azalaren irudirik gabe QR Kodea
Gorde:
Laburpena: Pension systems are often blamed for distorting the retirement age and they are held responsible for the widely observed trend towards early retirement. In a world of laissez-faire or in a first-best setting, there would be no such distortions. However, they may be unavoidable when first-best instruments are not available, because health and productivity are not observable. We show that while there is no doubt that retirement age is too low in many countries, a complete elimination of this bias is not the right answer. In other words, reforms that involve a switch to an actuarially fair system would be overshooting. We present normative and positive arguments. First, some distortions are second-best optimal. Second, and on the positive side, the elimination of the bias might be problematic from a political perspective.