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Retirement Behavior in the U.S. and Europe

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  • de Bresser, Jochem

    (Tilburg University, School of Economics and Management)

  • Fonseca, Raquel
  • Michaud, Pierre-Carl

Abstract

We develop a retirement model featuring various labor market exit routes: unemployment, disability, private and public pensions. The model allows for saving and uncertainty along several dimensions, including health and mortality. Individuals’ preferences are estimated on data from the U.S. and Europe using institutional variation across countries. We analyze the roles of preferences and institutions in explaining international heterogeneity in retirement behavior. Preliminary estimates suggest that a single set of preferences for individuals from the U.S., the Netherlands and Spain does not fit the data well. Were Europeans to have the same preferences as Americans, they would save less than they actually do. Furthermore, the Dutch and Spanish would work more hours than is observed in the data.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • de Bresser, Jochem & Fonseca, Raquel & Michaud, Pierre-Carl, 2017. "Retirement Behavior in the U.S. and Europe," Other publications TiSEM 85881fac-0f1b-4090-8d9f-d, Tilburg University, School of Economics and Management.
    • Handle: RePEc:tiu:tiutis:85881fac-0f1b-4090-8d9f-d3ae7b684f72
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    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Retirement Behavior in the U.S. and Europe
      by Christian Zimmermann in NEP-DGE blog on 2017-01-27 23:56:32

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    More about this item

    JEL classification:

    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household

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