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Population Aging and Legal Retirement Age

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Author Info
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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Abstract

This paper analyzes the effects of population aging on the preferred legal retirement age. What is revealed is the crucial role that the indirect ’macro’ effects resulting from a change in the legal retirement age play in the optimal decision. Two Social Security systems are studied. Under a defined contribution scheme aging lowers the preferred legal retirement age. However, under a defined pension scheme the retirement age is delayed. This result shows the relevance of correctly choosing the parameter affected by the dependency ratio in the design of the Social Security programme.

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File URL: http://www.ugr.es/~teoriahe/RePEc/gra/wpaper/thepapers05_16.pdf
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Publisher Info
Paper provided by Department of Economic Theory and Economic History of the University of Granada. in its series ThE Papers with number 05/16.

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Length: 19 pages
Date of creation: 16 Jun 2005
Date of revision:
Handle: RePEc:gra:wpaper:05/16

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Related research
Keywords: Social security aging legal retirement age

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Find related papers by JEL classification:
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

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Kahn, James A., 1988. "Social security, liquidity, and early retirement," Journal of Public Economics, Elsevier, vol. 35(1), pages 97-117, February. [Downloadable!] (restricted)
  2. Andrew A. Samwick, 1998. "New Evidence on Pensions, Social Security, and the Timing of Retirement," NBER Working Papers 6534, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  3. Conde-Ruiz, José Ignacio & Galasso, Vincenzo & Profeta, Paola, 2005. "The Evolution of Retirement," CEPR Discussion Papers 4863, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  4. CREMER, Helmuth & PESTIEAU, Pierre, 2002. "The Double Dividend of Postponing Retirement," IDEI Working Papers 144, Institut d'Économie Industrielle (IDEI), Toulouse, revised 2003. [Downloadable!]
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  5. Crawford, Vincent P & Lilien, David M, 1981. "Social Security and the Retirement Decision," The Quarterly Journal of Economics, MIT Press, vol. 96(3), pages 505-29, August. [Downloadable!] (restricted)
  6. Bertrand Crettez & Patricia Le Maitre, 2002. "Optimal age of retirement and population growth," Journal of Population Economics, Springer, vol. 15(4), pages 737-755. [Downloadable!] (restricted)
  7. Conde-Ruiz, J. Ignacio & Galasso, Vincenzo, 2004. "The macroeconomics of early retirement," Journal of Public Economics, Elsevier, vol. 88(9-10), pages 1849-1869, August. [Downloadable!] (restricted)
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  8. J. Ignacio Conde-Ruiz & Vincenzo Galasso, . "Early retirement," Working Papers 2003-03, FEDEA. [Downloadable!]
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  9. Sheshinski, Eytan, 1978. "A model of social security and retirement decisions," Journal of Public Economics, Elsevier, vol. 10(3), pages 337-360, December. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Walter H. Fisher & Christian Keuschnigg, 2007. "Pension Reform and Labor Market Incentives," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
    Other versions:
  2. Juan Lacomba & Francisco Lagos, 2007. "Political election on legal retirement age," Social Choice and Welfare, Springer, vol. 29(1), pages 1-17, July. [Downloadable!] (restricted)
    Other versions:
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