Social security and retirement across the OECD

Jorge Alonso-Ortiz ()

Journal of Economic Dynamics and Control, 2014, vol. 47, issue C, 300-316

Abstract: Employment to population ratios differ markedly across Organization for Economic Cooperation and Development (OECD) countries, especially for people aged over 55 years. In addition, social security features differ markedly across the OECD, particularly with respect to features such as generosity, entitlement ages, and implicit taxes on social security benefits. This study postulates that differences in social security features explain many differences in employment to population ratios at older ages. This conjecture is assessed quantitatively with a life cycle general equilibrium model of retirement. At ages 60–64 years, the correlation between the simulations of this study׳s model and observed data is 0.67. Generosity and implicit taxes are key features to explain the cross-country variation, whereas entitlement age is not.

Keywords: Social security; Retirement; Idiosyncratic labor income risk (search for similar items in EconPapers)
JEL-codes: E24 H53 J14 J26 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (37)

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Related works:
Working Paper: Social Security and Retirement across the OECD (2014)
Working Paper: Social security and retirement across the OECD (2011)
Working Paper: Social Security and Retirement across the OECD (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:dyncon:v:47:y:2014:i:c:p:300-316

DOI: 10.1016/j.jedc.2014.07.014

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