经济
代际重叠模型
社会保障
退休金
人口经济学
退休年龄
劳动经济学
人力资本
作者
Philippe Michel,Pierre Pestieau
出处
期刊:Annals of Economics and Finance
日期:2013-01-01
卷期号:14 (2): 705-719
被引量:27
摘要
This paper explains why workers retire earlier, and earlier at the same time as society becomes more and more indebted through increasing pay-as-you-go pension liabilities. To do so, we extend the standard twooverlapping-generations growth model to allow for endogenous labor participation in the later period of life. We show that the rate of participation declines as the size of social security system increases. We also show that mandatory early retirement many be socially desirable in case of underaccumulation.
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