Pestieau, Pierre
Recent work on the theory of early retirement / Pierre Pestieau, Helmuth Cremer, Jean Marie Lozachmeur .-- , 2006
Bibliografía.
Pension systems are often blamed for distorting the retirement ageand they are held responsible for the widely observed trend towards early retirement. In a world of laissez - faire or in a first - setting, there would be no such distortions. However, they may be unavoidable when first - best instrumentsare nor available, becouse health and productivity are not observable. We show that while there is no doubt that retirement age is too low in many countries, acomplete elimination of this bias is not the right answer. In other words, reforms that involve a switch to an actuarially fair system would be overshooting. We present normative and positive arguments. First, some distortions are second -best optimal. Second, and on the positive side, the elimination of the bias might be problematic from a political perspective.
SEGURIDAD SOCIAL
PENSIONES
EDAD DE JUBILACION
IMPOSICION OPTIMA
POLITICA FISCAL
MODELOS ECONOMETRICOS
Cremer, Helmuth
Lozachmeur, Jean Marie
Hacienda Pública Españolan. 179 (4/2006), p. 9-24
Recent work on the theory of early retirement / Pierre Pestieau, Helmuth Cremer, Jean Marie Lozachmeur .-- , 2006
Bibliografía.
Pension systems are often blamed for distorting the retirement ageand they are held responsible for the widely observed trend towards early retirement. In a world of laissez - faire or in a first - setting, there would be no such distortions. However, they may be unavoidable when first - best instrumentsare nor available, becouse health and productivity are not observable. We show that while there is no doubt that retirement age is too low in many countries, acomplete elimination of this bias is not the right answer. In other words, reforms that involve a switch to an actuarially fair system would be overshooting. We present normative and positive arguments. First, some distortions are second -best optimal. Second, and on the positive side, the elimination of the bias might be problematic from a political perspective.
SEGURIDAD SOCIAL
PENSIONES
EDAD DE JUBILACION
IMPOSICION OPTIMA
POLITICA FISCAL
MODELOS ECONOMETRICOS
Cremer, Helmuth
Lozachmeur, Jean Marie
Hacienda Pública Españolan. 179 (4/2006), p. 9-24