Social security reform, retirement and occupational behavior

Pedro Ferreira and Rafael Machado Parente

No 803, FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) from EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil)

Abstract: We study, in a life-cycle economy with three sectors - formal, informal and public – and endogenous retirement, the macroeconomic and occupational impacts of social security reforms in an economy with multiple pension systems. In a model calibrated to Brazil, we simulate and assess the long-run impact of reforms being discussed and/or implemented in different economies. Among them, the unification of pension systems and the increase of minimum retirement age. These reforms are found to affect the decision to apply to a public job, savings and skill composition across sectors. They also lead to higher output, less informality and welfare gains.

Date: 2018-11
New Economics Papers: this item is included in nep-age, nep-dge and nep-ltv
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Working Paper: Social Security Reform, Retirement and Occupational Behavior (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:fgv:epgewp:803

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