European pension systems: a simulation analysis
AbstractPension systems in different countries vary widely in such aspects as the dependence of benefits on earlier labour income, the minimum permitted retirement age and limits on labour supply after retirement. This paper uses a simulation model of a rational, utility-maximising household facing the detailed pension provisions of eight European countries to study microeconomic distortions induced by the different rules and regulations. We examine in particular the impact on savings, labour supply, retirement age decisions and welfare.
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Bibliographic InfoArticle provided by Institute for Fiscal Studies in its journal Fiscal Studies.
Volume (Year): 18 (1997)
Issue (Month): 3 (August)
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Postal: The Institute for Fiscal Studies 7 Ridgmount Street LONDON WC1E 7AE
Other versions of this item:
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
- J65 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment Insurance; Severance Pay; Plant Closings
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