Migration with Pension Reform Expectations

Marek Góra and Anna Ruzik-Sierdzińska ()
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Anna Ruzik-Sierdzińska: Warsaw School of Economics

No 11960, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: Pension reforms, which imply a reduction in the generosity of pension benefits, are becoming widespread in response to the demographic transition. The scale, the timing, and the pace of these reforms vary across countries. In this theoretical article, authors analyse individual migration decisions, by adding a component linked to the expected old-age pension benefits in sending and receiving countries in two cases: when the pension system rules are known, and when there is a risk of the pension systems reforms. The results indicate that when individuals fail to take future pension wealth into account, they can make sub-optimal migration decisions.

Keywords: migration decision; pension benefits; pension reforms; institutional uncertainty (search for similar items in EconPapers)
JEL-codes: F22 J24 J26 J61 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2018-11
New Economics Papers: this item is included in nep-age and nep-mig
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Related works:
Journal Article: Migration with pension reform expectations (2020)
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