Political election on legal retirement age
We use a lifecycle model in which individuals differ by age and by wage in order to analyze a pairwise majority voting process on the legal retirement age. We consider two di ?erent retirement regimes. In the first one the retirees do not return to the labor market, regardless the new retirement age. In the second one, they have to return if this age is higher than her own age. We show that the final outcome of the voting process will crucially depend on the retirement regime as well as on the parameters of the Social Security, that is, the redistributive character of the system and the present legal retirement age.
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Volume (Year): 29 (2007)
Issue (Month): 1 (July)
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References listed on IDEAS
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- Vincent P. Crawford & David M. Lilien, 1981. "Social Security and the Retirement Decision," The Quarterly Journal of Economics, Oxford University Press, vol. 96(3), pages 505-529.
- Georges Casamatta & Helmuth Cremer & Pierre Pestieau, 2000.
"The Political Economy of Social Security,"
CESifo Working Paper Series
259, CESifo Group Munich.
- CASAMATTA, Georges & CREMER , Helmuth & PESTIEAU, Pierre, . "The political economy of social security," CORE Discussion Papers RP 1475, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- CASAMATTA, Georges & CREMER, Helmuth & PESTIEAU, Pierre, 1999. "The political economy of social security," CORE Discussion Papers 1999055, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Galasso, Vincenzo & Profeta, Paola, 2002. "The political economy of social security: a survey," European Journal of Political Economy, Elsevier, vol. 18(1), pages 1-29, March.
- Sveinbjörn Blöndal & Stefano Scarpetta, 1999. "The Retirement Decision in OECD Countries," OECD Economics Department Working Papers 202, OECD Publishing.
- Juan Antonio Lacomba & Francisco Miguel Lagos, 2005.
"Population Aging and Legal Retirement Age,"
05/16, Department of Economic Theory and Economic History of the University of Granada..
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