Pensions and Retirement Incentives. A Tale of Three Countries: Italy, Spain and the USA

Agar Brugiavini, Franco Peracchi and David Wise ()

Giornale degli Economisti, 2002, vol. 61, issue 2, 131-169

Abstract: This paper looks at the relationship between the institutional design of the social security system and retirement from the labour force in three countries: Italy, Spain and the USA. Our work stresses the importance of dynamic incentives embedded in social security systems throughout the world and makes use of these three countries as an example. In fact they provide enough variability in their welfare programs that can be exploited to explain differences in retirement behavior. We show that social security rules are very important for individual’s decisions to retire at a given age and that policy changes aimed at achieving age-neutrality of social security systems have a crucial role in shaping welfare.

Keywords: pensions; retirement incentives; labor supply (search for similar items in EconPapers)
JEL-codes: H31 H55 J26 (search for similar items in EconPapers)
Date: 2002
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Citations: View citations in EconPapers (1)

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Working Paper: Pensions and Retirement Incentives. A Tale of Three Countries: Italy, Spain and the USA (2003)
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