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Social security and retirement across the OECD

Jorge Alonso-Ortiz ()

MPRA Paper from University Library of Munich, Germany

Abstract: Employment to population ratios differ markedly across OECD coun- tries, especially for people over 55. Social security features also differ markedly across the OECD, particularly with respect to replacement rates, entitlement ages and earnings tests. I conjecture that differences in social security features explain many differences in employment to population ratios at older ages. I assess my conjecture quantitatively with a life cycle general equilibrium model of retirement. At ages 60-64 the correlation between my model’s simulations and observed data is .67. Replacement rates and the earnings tests are key features.

Keywords: Social security; retirement; idiosyncratic labor income risk (search for similar items in EconPapers)
JEL-codes: J14 E24 H53 J26 (search for similar items in EconPapers)
Date: 2010-11-15, Revised 2011-12-13
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