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Incentives of Retirement Transition for Elderly Workers: An Analysis of Actual and Simulated Replacement Rates in Ireland

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Author Info

  • Li, Jinjing

    ()
    (Maastricht University)

  • O'Donoghue, Cathal

    ()
    (Teagasc Rural Economy Research Centre)

Abstract

Retirement behaviours and elderly poverty issues have been the subject of much attention and discussion in recent years as most countries are facing a rapidly ageing society. Ireland enjoys a relatively young population compared with other European countries, but is also struggling with increasing fiscal pressures. This paper analyses the retirement pattern and the replacement rate observed in Ireland using the Living in Ireland panel dataset. Since traditional empirical estimations may have selection bias issues as people with low replacement rates may not choose to retire, the paper adopts a combined method with both synthetic household simulation and empirical estimates. The study reveals the social economic attributes patterns associated with the replacement rates and retirement behaviours, and explores the heterogeneities of replacement rates among retirees.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 5865.

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Length: 37 pages
Date of creation: Jul 2011
Date of revision:
Handle: RePEc:iza:izadps:dp5865

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Keywords: retirement; replacement rates; microsimulation;

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References

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  1. Cathal O’Donoghue & John Lennon & Stephen Hynes, 2009. "The Life-Cycle Income Analysis Model (LIAM): A Study of a Flexible Dynamic Microsimulation Modelling Computing Framework," CeRP Working Papers 85, Center for Research on Pensions and Welfare Policies, Turin (Italy).
  2. Engen, Eric & Gale, William & Uccello, Cori, 1999. "The Adequacy of Household Saving," MPRA Paper 56442, University Library of Munich, Germany.
  3. Immervoll, Herwig & O'Donoghue, Cathal, 2003. "Employment transitions in 13 European countries: levels, distributions and determining factors of net replacement rates," EUROMOD Working Papers EM3/03, EUROMOD at the Institute for Social and Economic Research.
  4. Tim Callan & Arthur Van Soest, 1996. "Family Labour Supply and Taxes in Ireland," Papers WP078, Economic and Social Research Institute (ESRI).
  5. Cathal O’Donoghue, 2001. "Redistribution over the Lifetime in the Irish Tax-Benefit System - An Application of a Prototype Dynamic Microsimulation Model for Ireland," The Economic and Social Review, Economic and Social Studies, vol. 32(3), pages 191–216.
  6. Herwig Immervoll & Cathal O'Donoghue, 2003. "Welfare Benefits and Work Incentives. An Analysis of the Distribution of Net Replacement Rates in Europe using EUROMOD, a Multi- Country Microsimulation Model," Labor and Demography 0302001, EconWPA.
  7. Berger, Frederic & Borsenberger, Monique & Immervoll, Herwig & Lumen, Julie & Scholtus, Bertrand & de Vos, Klaas, 2001. "The Impact of Tax-Benefit Systems on Low-Income Households in the Benelux Countries. A Simulation Approach Using Synthetic Datasets," EUROMOD Working Papers EM3/01, EUROMOD at the Institute for Social and Economic Research.
  8. Atkinson, Anthony B & Micklewright, John, 1991. "Unemployment Compensation and Labor Market Transitions: A Critical Review," Journal of Economic Literature, American Economic Association, vol. 29(4), pages 1679-1727, December.
  9. Polachek,Solomon W. & Siebert,W. Stanley, 1993. "The Economics of Earnings," Cambridge Books, Cambridge University Press, number 9780521367288, October.
  10. repec:crr:issbrf:ib2005-37 is not listed on IDEAS
  11. Immervoll, H., 2000. "Fiscal Drag - An Automatic Stabiliser?," Cambridge Working Papers in Economics 0025, Faculty of Economics, University of Cambridge.
  12. Callan, Tim & Walsh, John, 2006. "Assessing the impact of tax/transfer policy changes on poverty: methodological issues and some European evidence," EUROMOD Working Papers EM1/06, EUROMOD at the Institute for Social and Economic Research.
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