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How elastic is the response of the retirement-age labor supply? Evidence from the 1993 French pension reform

Bozio, A.; (2008) How elastic is the response of the retirement-age labor supply? Evidence from the 1993 French pension reform. In: Fenge, R. and De Menil, G. and Pestieau, P., (eds.) Pension Strategies in Europe and the United States. (pp. 37-86). MIT Press: Cambridge, US.

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Abstract

Book description: Demographic realities will soon force developed countries to find ways to pay for longer retirements for more people. In Pension Strategies in Europe and the United States, leading economists analyze topical issues in pension policy, with a focus on raising the retirement age, increasing retirement savings, and the political sustainability of reforms that will accomplish these goals. After a substantive and wide-ranging introduction by the editors that weaves together the demographic and economic strands of the story, the chapters present cutting-edge research, offering both theoretical and empirical analyses. Contributors examine such topics as the reform of key structural features of existing pay-as-you-go (PAYG) pension systems, analyzing how benefits should vary with the age of retirement, labor supply elasticity after France's 1993 pension reform, and fiscal response to a demographic shock; the feasibility of PAYG reforms in the United States and the competition among state pension systems that results from labor mobility in Europe; and private, funded systems (increasingly perceived as necessary adjuncts to PAYG systems) in the UK, the US, and the Netherlands, and in terms of individual portfolio management. The editors conclude the volume with a study of recent German and UK reforms and their effects on personal savings.

Type: Book chapter
Title: How elastic is the response of the retirement-age labor supply? Evidence from the 1993 French pension reform
ISBN-13: 9780262062725
Publisher version: http://mitpress.mit.edu/catalog/item/default.asp?t...
Language: English
UCL classification: UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of SandHS > Dept of Economics
URI: http://discovery.ucl.ac.uk/id/eprint/17913
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