Estimación de un modelo estructural para las decisiones de retiro en Uruguay
In this paper we estimate a structural model for retirement behavior using data on labor history of public employees in Uruguay. We use a modified version of the model proposed by Jimenez-Martin and Sánchez-Martin (2007) adjusted to the uruguayan case. The estimated coeffcient of relative risk aversion is around 2, indicating that agents are moderately risk-averse. Evidence also indicate that the probability of retire is greater for those who have less propensity to contribute and increases for women and older people. Finally, simulations show a very low sensitivity of the age of retirement to policy changes.
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