In this paper, we explore the links between pension reform, early retirement, and the use of unemployment as an alternative pathway to retirement. We use a dynamic rational expectations model to analyze the search and retirement behaviour of employed and unemployed workers aged 50 or over. The...

All around the world , developed countries have resorted to parametric reforms of their Social Security systems, in an attempt to lessen the impact of the population aging. In particular, pension formulae have been modified to reduce the generosity of the systems and to induce longer working...

This paper explores the links between unemployment, retirement and their associated public insurance programs. The analysis combines the development of a life-cycle model of search and retirement with a detailed exploration of the empirical regularities using a Spanish administrative data-set...

In this paper we analyze the sensitivity of the labour market decisions of workers close to retirement with respect to the incentives created by public regulations. We improve upon the extensive prior literature on the effect of pension incentives on retirement in two ways. First, by modeling...