Retirement in Italy and Norway
AbstractA structural model for retirement and employment based on a flexible, parametric utility function is developed. The model requires only cross section data and is estimated on survey data for Italy and register data for Norway. The estimates indicate that the preference structure among middle-aged Italian males and Norwegian males and females who are approaching retirement has strong similarities. The utility function estimates from a model with no consumption smoothing, seem more reasonable than estimates from a model with a perfect credit market. Policy simulations indicate a somewhat stronger response to cuts in pension benefits in Norway than in Italy.
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Bibliographic InfoPaper provided by Oslo University, Department of Economics in its series Memorandum with number 10/2003.
Length: 49 pages
Date of creation: 21 Mar 2003
Date of revision:
Contact details of provider:
Postal: Department of Economics, University of Oslo, P.O Box 1095 Blindern, N-0317 Oslo, Norway
Phone: 22 85 51 27
Fax: 22 85 50 35
Web page: http://www.oekonomi.uio.no/indexe.html
More information through EDIRC
Retirement; inter-temporal interpretation; estimates and policy; simulations; Italy; Norway;
Find related papers by JEL classification:
- D10 - Microeconomics - - Household Behavior - - - General
- 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
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.:
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"A Structural Retirement Model,"
NBER Working Papers
1237, National Bureau of Economic Research, Inc.
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Society for Computational Economics, vol. 27(1), pages 63-88, February.
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- Michele Belloni & Rob Alessie, 2013.
"Retirement Choices in Italy: What an Option Value Model Tells Us,"
Oxford Bulletin of Economics and Statistics,
Department of Economics, University of Oxford, vol. 75(4), pages 499-527, 08.
- Michele Belloni & Rob Alessie, 2010. "Retirement choices in Italy: what an option value model tells us," CeRP Working Papers 92, Center for Research on Pensions and Welfare Policies, Turin (Italy).
- Michele Belloni & Rob Alessie, 2010. "Retirement Choices in Italy: What an Option Value Model tells us," Tinbergen Institute Discussion Papers 10-102/3, Tinbergen Institute.
- Maria I. Marika Santoro, 2006. "Early Announcement of a Public Pension Reform in Italy: Working Paper 2006-01," Working Papers 17588, Congressional Budget Office.
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