| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4850 |
| DP4850 Earnings Manipulation and Incentives in Firms | |
| Guido Friebel; Sergei Guriev | |
| 发表日期 | 2005-01-23 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | We provide a long-term perspective on the individual retirement behaviour and on the future of early retirement. In a cross-country sample, we find that total pension spending depends positively on the degree of early retirement and on the share of elderly in the population, which increase the proportion of retirees, but has hardly any effect on the per capita pension benefits. We show that in a Markovian political economic theoretical framework, in which incentives to retire early are embedded, a political equilibrium is characterized by an increasing sequence of social security contribution rates converging to a steady state and early retirement. Comparative statistics suggest that aging and productivity slow-downs lead to higher taxes and more early retirement. However, when income effects are factored in, the model suggests that periods of stagnation ? characterized by decreasing labour income ? may lead middle-aged individuals to postpone retirement. |
| 主题 | Labour Economics ; Public Economics |
| 关键词 | Pensions Lifetime income effect Tax burden Politico-economic markovian equilibrium |
| URL | https://cepr.org/publications/dp4850 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533758 |
| 推荐引用方式 GB/T 7714 | Guido Friebel,Sergei Guriev. DP4850 Earnings Manipulation and Incentives in Firms. 2005. |
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