ENDOGENOUS DEMOGRAPHIC CHANGE, RETIREMENT, AND SOCIAL SECURITY

Demographic Change, Social Security Systems, and Savings.

In theory, improvements in healthy life expectancy should generate increases in the average age of retirement, with little effect on savings rates. In many countries, however, retirement incentives in social security programs prevent retirement ages from keeping pace with changes in life expectancy, leading to an increased need for life-cycle savings. Analyzing a cross-country panel of macroeco...

Social Security, retirement incentives, and retirement behavior: an international perspective.

Escalating rates of early retirement are imposing fiscal pressure on retirement systems around the world. In some developed countries, the labor-force participation rates of men ages 60-64 have fallen by 75 percent over the last three decades. One explanation for this striking decline is social security program provisions which create disincentives to continued labor-force participation by olde...

Shrinking Boomer Social Security Retirement Benefits

Social Implications of Demographic Change

Declining population as well as population aging has substantial impacts on the economy and on the society. By contrast, the size of the population usually does not matter for economic development, if it is stable; Switzerland and Sweden, for example, are rich countries with fewer than 10 million people. However, the process of declining does matter, particularly when it is accompanied by a sig...

Social security and retirement decision: A positive and normative approach

Social insurance for the elderly is judged responsible for the widely observed trend towards early retirement. In a world of laissez-faire or in a first-best setting, there would be no such trend. However, when first-best instruments are not available, because health and productivity are not observable, the optimal social insurance policy may imply a distortion on the retirement decision. The m...