We provide a long-term perspective on the individual retirement behaviour and on the future of retirement. In a … equilibrium with positive social security contribution rates and early retirement. Aging has two opposite effects: it leads to … the existence of crucial income effects: a decrease of the income of young people will induce them to postpone retirement …

We show how the age profile of earnings, retirement rules and retirement behavior are tightly linked through the … paper theoretically rationalizes the links between retirement rules and the wage structures over the life cycle and uses … data on European countries to show how social security taxes, the age profile of earnings, and retirement behavior are …

We provide a long term perspective on the individual retirement behavior and on the future of early retirement. In a … cross-country sample, we find that total pension spending depends positively on the degree of early retirement and on the … converging to a steady state and early retirement. Comparative statics suggest that aging and productivity slow-downs lead to …

Generous early retirement provisions account for a large proportion of the drop in the labour force participation of … retirement. We suggest that the political support for generous early retirement provisions relies on: (i) the existence of an … majority which supports a social security system with early retirement in a bidimensional voting game is composed of elderly …

Generous early retirement provisions account for a large proportion of the drop in the labor force participation of … elderly workers. The aim of this paper is to provide a positive theory of early retirement. We suggest that the political … support for generous early retirement provisions relies on: (i) the existence of a significant group of elderly workers with …