In 1998, the Swiss voters approved of an increase in female retirement age from 62 to 64. The referendum, being on a single issue only, offers a unique opportunity to explore the political feasibility of pension reforms and to apply theoretical models of life-cycle decision making. Estimates carried out with municipality data suggest that the outcome of the vote conforms relatively well with predictions drawn from a theoretical simulation study. There are, however, surprising gender differences even in married couples. Young agents, married middle-aged and all elderly men favor an increase in female retirement age, while middle-aged and elderly women strongly oppose it. Richer communities and those with a high proportion of self-employed or a low fraction of blue-collar workers are more likely to opt for a higher retirement age. Ideological preferences and regional differences also play a considerable role.
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Length: 35 pages Date of creation: Nov 2000 Date of revision: Publication status: Published in International Tax and Public Finance, vol. 9, 2002, pp. 349-365 Handle: RePEc:lau:crdeep:00.27
Find related papers by JEL classification: H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Models of Political Processes: Rent-seeking, Elections, Legislatures, and Voting Behavior J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy
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