Despite the increased frequency of job loss for older workers in Europe, little is known on itseffect on the work-retirement decision. Employing individual data from the EuropeanCommunity Household Panel for Germany, Italy, Spain, and the U.K., a multivariatecompeting-risks hazard model is...

According to the Hutchens (1999) model, early retirement is not explained as a result ofmaximizing expected individual utility but rather as a demand-side phenomenon arising froma firm’s profit-maximizing behaviour...

This paper provides new evidence about the effects of economic incentives embedded in the Italian Social Security system on retirement decisions. The 1992 reform is an interesting example since it was implemented when: (a) the system was very generous to retirees; (b) the demographic context was...

The central purpose of this paper is to introduce a new political economy explanation to modern Social Security Systems. This approach is based on the Single-Mindedness Theory (SMT), which assumes that the more single-minded groups are able to exert a greater power of influence on Governments...

There are large differences in the employment to population ratio relative to the US across OECD countries, and these differences are even larger for the old age (55-69 years). There are also large differences in various features of social security, such as the replacement rate, the entitlement...

In order for the part-time pension to make sense economically, it should extend the length of the working career. An interesting question is also whether the timing of retirement and willingness to work after retirement are related. We use data on the aspirations of individuals regarding their...

There are large differences in the employment to population ratio relative to the US across OECD countries, and these differences are even larger for the old age (55-69 years). There are also large differences in various features of social security, such as the replacement rate, the entitlement...

Ageing society opens up enormous economic potential. Whereas for a long time social interpretation homed in on the doomsday scenarios of demographic change, it is the economic potential that is now emerging with increasing clarity. Information and communication technologies stand a good chance...

We show that the introduction of unfunded public pensions in a Cobb-Douglas economy with overlapping generations and endogenous fertility may cause complex economic cycles when individuals are short-sighted. In particular, the risk of cyclical instability increases with both the individual...

Early retirement of workers is used by firms as means to rejuvenate their workforces. In principle, workers can either simply be laid off or can be offered an early retirement option combined with a financial bonus. However, dismissing masses of older workers may be detrimental to social peace...