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Election On Retirement Age

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Author Info

  • Francisco M. Lagos

    (Universidad de Alicante)

  • Juan Antonio Lacomba

    (Universidad de Alicante)

Abstract

We analyze the relationship between wage distribution, degree of redistribution of the Social Security and effective retirement age. We develop a two-staged political economy model. In the first stage government chooses the redistribution level of the Social Security Program, according to three different criteria. In second stage the retirement age is elected through a majority voting process by agents with different wages, knowing exactly the redistribution level and voting accordingly. We analyze the different elected retirement age under each government criterium.

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File URL: http://www.ivie.es/downloads/docs/wpasad/wpasad-2001-09.pdf
File Function: Fisrt version / Primera version, 2001
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Bibliographic Info

Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie AD with number 2001-09.

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Length: 30 pages
Date of creation: Mar 2001
Date of revision:
Publication status: Published by Ivie
Handle: RePEc:ivi:wpasad:2001-09

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Related research

Keywords: Wage distribution; retirement age; level of redistribution; median voter;

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References

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  1. John B. Burbidge & A. Leslie Robb, 1980. "Pensions and Retirement Behaviour," Canadian Journal of Economics, Canadian Economics Association, vol. 13(3), pages 421-37, August.
  2. Browning, Edgar K, 1975. "Why the Social Insurance Budget Is Too Large in a Democracy," Economic Inquiry, Western Economic Association International, Western Economic Association International, vol. 13(3), pages 373-88, September.
  3. Francisco M. Lagos & Juan Antonio Lacomba, 2000. "- Social Security And Political Election In Retirement Age," Working Papers. Serie AD, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) 2000-11, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  4. Lex Meijdam & Harrie Verbon, 1996. "Aging and political decision making on public pensions," Journal of Population Economics, Springer, vol. 9(2), pages 141-158, June.
  5. CASAMATTA, Georges & CREMER, Helmuth & PESTIEAU, Pierre, 1998. "On the political sustainability of redistributive social insurance systems," CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) 1998038, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  6. Hongyi Li & Lyn Squire & Tao Zhang & Heng-fu Zou, 1999. "A Data Set on Income Distribution," CEMA Working Papers 575, China Economics and Management Academy, Central University of Finance and Economics.
  7. Sheshinski, Eytan, 1978. "A model of social security and retirement decisions," Journal of Public Economics, Elsevier, vol. 10(3), pages 337-360, December.
  8. Atkinson,A.B. & Rainwater,L. & Smeeding,T., 1995. "Income Distribution in European Countries," Cambridge Working Papers in Economics 9535, Faculty of Economics, University of Cambridge.
  9. BOLDRIN, Michele & RUSTICHINI, Aldo, 1994. "Equilibria with Social Security," CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) 1994060, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  10. Hansson, Ingemar & Stuart, Charles, 1989. "Social Security as Trade among Living Generations," American Economic Review, American Economic Association, vol. 79(5), pages 1182-95, December.
  11. Klaus Deininger & Lyn Squire, 1996. "A New Data Set Measuring Income Inequality," CEMA Working Papers 512, China Economics and Management Academy, Central University of Finance and Economics.
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Citations

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Cited by:
  1. Pestieau, P., 2001. "Are We Retiring Too Early?," Liege - Groupe d'Etude des Mathematiques du Management et de l'Economie, UNIVERSITE DE LIEGE, Faculte d'economie, de gestion et de sciences sociales, Groupe d'Etude des Mathematiques du Management et 2001/03, UNIVERSITE DE LIEGE, Faculte d'economie, de gestion et de sciences sociales, Groupe d'Etude des Mathematiques du Management et de l'Economie.
  2. Conde-Ruiz, José Ignacio & Galasso, Vincenzo, 2003. "The Macroeconomics of Early Retirement," CEPR Discussion Papers 3896, C.E.P.R. Discussion Papers.
  3. J. Ignacio Conde-Ruiz & Vincenzo Galasso & Paola Profeta, . "The Evolution of Retirement," Working Papers 2005-03, FEDEA.
  4. Conde-Ruiz, José Ignacio & Galasso, Vincenzo & Profeta, Paola, 2005. "The Evolution of Retirement," CEPR Discussion Papers 4863, C.E.P.R. Discussion Papers.
  5. Georges Casamatta & Helmuth Cremer & Pierre Pestieau, 2005. "Voting on Pensions with Endogenous Retirement Age," International Tax and Public Finance, Springer, vol. 12(1), pages 7-28, January.
  6. J. Ignacio Conde-Ruiz & Vincenzo Galasso & Paola Profeta, 2005. "Early Retirement and Social Security: A Long Term Perspective," CESifo Working Paper Series 1571, CESifo Group Munich.
  7. Galasso, Vincenzo, 2006. "Postponing Retirement: the Political Push of Aging," CEPR Discussion Papers 5777, C.E.P.R. Discussion Papers.
  8. Francisco M. Lagos & Juan Antonio Lacomba, 2000. "- Social Security And Political Election In Retirement Age," Working Papers. Serie AD, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) 2000-11, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).

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