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Old-age benefits and retirement decisions of rural elderly in Brazil

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  • de Carvalho Filho, Irineu Evangelista

Abstract

I estimate the impact of social security benefits on retirement decisions of rural workers by studying changes in the rules governing old-age benefits for rural workers in Brazil. I focus on a reform implemented in 1991, which reduced the minimum eligibility age, increased benefits, and extended the program to non-heads of households. Because those benefits come with no strings attached -- they are not means or retirement tested -- any behavioral response is a pure income effect. The main finding of the paper is that access to old-age benefits is a strong determinant of retirement of rural workers in Brazil: receiving old-age benefits increases the probability of not working by about thirty-eight percentage points and reduces total hours per week by 22½ h.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Development Economics.

Volume (Year): 86 (2008)
Issue (Month): 1 (April)
Pages: 129-146

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Handle: RePEc:eee:deveco:v:86:y:2008:i:1:p:129-146

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Web page: http://www.elsevier.com/locate/devec

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  1. Dwayne Benjamin & Loren Brandt & Jia-Zhueng Fan, 2003. "Ceaseless Toil? Health and Labor Supply of the Elderly in Rural China," William Davidson Institute Working Papers Series 2003-579, William Davidson Institute at the University of Michigan.
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  4. Purvi Sevak, 2002. "Wealth Shocks and Retirement Timing: Evidence from the Nineties," Working Papers, University of Michigan, Michigan Retirement Research Center wp027, University of Michigan, Michigan Retirement Research Center.
  5. Cem Mete & T. Paul Schultz, 2002. "Health and Labor Force Participation of the Elderly in Taiwan," Working Papers, Economic Growth Center, Yale University 846, Economic Growth Center, Yale University.
  6. Stock, James H & Wise, David A, 1990. "Pensions, the Option Value of Work, and Retirement," Econometrica, Econometric Society, Econometric Society, vol. 58(5), pages 1151-80, September.
  7. Meyer, Bruce D, 1995. "Natural and Quasi-experiments in Economics," Journal of Business & Economic Statistics, American Statistical Association, American Statistical Association, vol. 13(2), pages 151-61, April.
  8. Alan B. Krueger & Jorn-Steffen Pischke, 1991. "The Effect of Social Security on Labor Supply: A Cohort Analysis of the Notch Generation," NBER Working Papers 3699, National Bureau of Economic Research, Inc.
  9. Marianne Bertrand & Douglas Miller & Sendhil Mullainathan, 2000. "Public Policy and Extended Families: Evidence from South Africa," NBER Working Papers 7594, National Bureau of Economic Research, Inc.
  10. Costa, Dora L, 1995. "Pensions and Retirement: Evidence from Union Army Veterans," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 110(2), pages 297-319, May.
  11. Guido W. Imbens & Donald B. Rubin & Bruce I. Sacerdote, 2001. "Estimating the Effect of Unearned Income on Labor Earnings, Savings, and Consumption: Evidence from a Survey of Lottery Players," American Economic Review, American Economic Association, American Economic Association, vol. 91(4), pages 778-794, September.
  12. Kahn, James A., 1988. "Social security, liquidity, and early retirement," Journal of Public Economics, Elsevier, Elsevier, vol. 35(1), pages 97-117, February.
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