Juan Antonio Lacomba () (Department of Economic Theory and Economic History, University of Granada) Francisco Miguel Lagos (Department of Economic Theory and Economic History, University of Granada)
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This paper analyzes the reform of the pensionable age as an answer to the future financing problems of public pension systems. We use a two-staged model where, firstly, the government decides the redistribution level of the pension system, and, secondly, individuals face a voting process on the legal retirement age. Our results suggest that an increase in the redistributive character of the system could lead to a larger social consensus to postpone the legal retirement age. Surprisingly, it could be the case that the richest people would support more redistribution if that implies to postpone the pensionable age.
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Paper provided by Department of Economic Theory and Economic History of the University of Granada. in its series ThE Papers with number
05/13.
Find related papers by JEL classification: D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Models of Political Processes: Rent-seeking, Elections, Legislatures, and Voting Behavior D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
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