Retirement Incentives in Belgium: Estimations and Simulations Using SHARE Data

Alain Jousten and Mathieu Lefebvre

De Economist, 2013, vol. 161, issue 3, 253-276

Abstract: The paper studies retirement behavior of wage-earners in Belgium—for the first time using a rich survey dataset to analyze retirement incentives as faced by individuals. Specifically, we use SHARE data to estimate a model à la Stock and Wise (Econom Econ Soc 58(5):1151–1180, 1990 ). Exploring the data on individual life-histories from SHARELIFE, we construct a measure of financial incentive to retire. Our analysis explicitly takes into account the different take-up rates of the various early retirement exit paths across time and ages. The results show that financial incentives play a strong role. Health and education also matter, as do regional differences. Against the general background of the 2020 strategy, we perform a set of policy simulations and illustrate the scope but also the limits associated with selective parametric reforms. Copyright Springer Science+Business Media New York 2013

Keywords: Pensions; Social security; Disability; Early retirement; Unemployment; Labor force participation; H55; J21; J26; J14 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (10)

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Working Paper: Retirement Incentives in Belgium: Estimations and Simulations Using SHARE Data (2013)
Working Paper: Retirement incentives in Belgium: estimations and simulations using SHARE data (2013)
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DOI: 10.1007/s10645-013-9213-5

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