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Health Status, Disability and Retirement Incentives in Belgium

In: Social Security Programs and Retirement Around the World: Disability Insurance Programs and Retirement

  • Alain Jousten
  • Mathieu Lefebvre
  • Sergio Perelman

Many Belgian retire well before the statutory retirement age. Numerous exit routes from the labor force can be identified: old-age pensions, conventional early retirement, disability insurance, and unemployment insurance are the most prominent ones. We analyze the retirement decision of Belgian workers adopting an option value framework, and pay special attention to the role of health status. We estimate probit models of retirement using data from SHARE. The results show that health and incentives matter in the decision to exit from the labor market. Based on these results, we simulate the effect of potential reforms on retirement.

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This item is provided by National Bureau of Economic Research, Inc in its series NBER Chapters with number 13324.
Handle: RePEc:nbr:nberch:13324
Contact details of provider: Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
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  1. Pierre Pestieau & Mathieu Lefèbvre & Alain Jousten & Sergio Perelman, 2008. "The Effects of Early Retirementon Youth Unemployment: The Case of Belgium," IMF Working Papers 08/30, International Monetary Fund.
  2. Alain Jousten & Mathieu Lefebvre & Sergio Perelman, 2011. "Disability in Belgium: There is More than Meets the Eye," NBER Working Papers 17114, National Bureau of Economic Research, Inc.
    • Alain Jousten & Mathieu Lefebvre & Sergio Perelman, 2012. "Disability in Belgium: There Is More Than Meets the Eye," NBER Chapters, in: Social Security Programs and Retirement around the World: Historical Trends in Mortality and Health, Employment, and Disability Insurance Participatio, pages 251-276 National Bureau of Economic Research, Inc.
  3. Poterba, James & Venti, Steven F. & Wise, David Alsgaard, 2011. "The Asset Cost of Poor Health," Scholarly Articles 4669670, Harvard Kennedy School of Government.
  4. Arnaud Dellis & Raphaël Desmet & Alain Jousten & Sergio Perelman, 2004. "Micro-Modeling of Retirement in Belgium," NBER Chapters, in: Social Security Programs and Retirement around the World: Micro-Estimation, pages 41-98 National Bureau of Economic Research, Inc.
  5. Raphael Desmet & Alain Jousten & Sergio Perelman & Pierre Pestieau, 2003. "Micro-Simulation of Social Security Reforms in Belgium," NBER Working Papers 9494, National Bureau of Economic Research, Inc.
  6. James H. Stock & David A. Wise, 1988. "Pensions, The Option Value of Work, and Retirement," NBER Working Papers 2686, National Bureau of Economic Research, Inc.
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