Estimación de un modelo estructural para las decisiones de retiro en Uruguay

Alvaro Forteza (alvaro.forteza@cienciassociales.edu.uy) and Graciela Sanromán (graciela.sanroman@cienciassociales.edu.uy)
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Graciela Sanromán: Departamento de Economía, Facultad de Ciencias Sociales, Universidad de la República

Documentos de Trabajo (working papers) from Department of Economics - dECON

Abstract: In this paper we estimate a structural model for retirement behavior using data on labor history of public employees in Uruguay. We use a modified version of the model proposed by Jimenez-Martin and Sánchez-Martin (2007) adjusted to the uruguayan case. The estimated coeffcient of relative risk aversion is around 2, indicating that agents are moderately risk-averse. Evidence also indicate that the probability of retire is greater for those who have less propensity to contribute and increases for women and older people. Finally, simulations show a very low sensitivity of the age of retirement to policy changes.

Keywords: Social Security; Retirement; Structural model; ML estimation (search for similar items in EconPapers)
Pages: 31 pages
Date: 2011-09
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Persistent link: https://EconPapers.repec.org/RePEc:ude:wpaper:2411

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