The effect of social security, demography and technology on retirement
Autor(a) principal: | |
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Data de Publicação: | 2010 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Institucional do FGV (FGV Repositório Digital) |
Texto Completo: | http://hdl.handle.net/10438/7703 |
Resumo: | This article investigates the causes in the reduction of labor force participation of the old. We argue that the changes in social security policy, in technology and in demography may account for most of the changes in retirement over the second part of the last century in the U.S. economy. We develop a dynamic general equilibrium model with endogenous retirement that embeds social security legislation. The model is able to match very closely the increase in the retirement rate of males aged 65 and older. It also quanti es the isolated impact on retirement and on the solvency of the social security system of the di¤erent factors. The model suggests that technological and demographic changes had a strong in uence on retirement, so that it would have increased signi cantly even if the social security rules had not changed. However, as the latter became much more generous in the past, changes in social security policy can account not only for a sizeable part of the expansion of retirement, but also for the most of the observed increase in the social security expenses as a share of GDP. |
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Ferreira, Pedro CavalcantiSantos, Marcelo Rodrigues dosEscolas::EPGEFGV2010-10-21T13:45:45Z2010-10-21T13:45:45Z2010-10-21http://hdl.handle.net/10438/7703This article investigates the causes in the reduction of labor force participation of the old. We argue that the changes in social security policy, in technology and in demography may account for most of the changes in retirement over the second part of the last century in the U.S. economy. We develop a dynamic general equilibrium model with endogenous retirement that embeds social security legislation. The model is able to match very closely the increase in the retirement rate of males aged 65 and older. It also quanti es the isolated impact on retirement and on the solvency of the social security system of the di¤erent factors. The model suggests that technological and demographic changes had a strong in uence on retirement, so that it would have increased signi cantly even if the social security rules had not changed. However, as the latter became much more generous in the past, changes in social security policy can account not only for a sizeable part of the expansion of retirement, but also for the most of the observed increase in the social security expenses as a share of GDP.engFundação Getulio Vargas. 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dc.title.eng.fl_str_mv |
The effect of social security, demography and technology on retirement |
title |
The effect of social security, demography and technology on retirement |
spellingShingle |
The effect of social security, demography and technology on retirement Ferreira, Pedro Cavalcanti Social security Technology Retirement decision Aging population Economia Seguro social Economia |
title_short |
The effect of social security, demography and technology on retirement |
title_full |
The effect of social security, demography and technology on retirement |
title_fullStr |
The effect of social security, demography and technology on retirement |
title_full_unstemmed |
The effect of social security, demography and technology on retirement |
title_sort |
The effect of social security, demography and technology on retirement |
author |
Ferreira, Pedro Cavalcanti |
author_facet |
Ferreira, Pedro Cavalcanti Santos, Marcelo Rodrigues dos |
author_role |
author |
author2 |
Santos, Marcelo Rodrigues dos |
author2_role |
author |
dc.contributor.unidadefgv.por.fl_str_mv |
Escolas::EPGE |
dc.contributor.affiliation.none.fl_str_mv |
FGV |
dc.contributor.author.fl_str_mv |
Ferreira, Pedro Cavalcanti Santos, Marcelo Rodrigues dos |
dc.subject.eng.fl_str_mv |
Social security Technology Retirement decision |
topic |
Social security Technology Retirement decision Aging population Economia Seguro social Economia |
dc.subject.por.fl_str_mv |
Aging population |
dc.subject.area.por.fl_str_mv |
Economia |
dc.subject.bibliodata.por.fl_str_mv |
Seguro social Economia |
description |
This article investigates the causes in the reduction of labor force participation of the old. We argue that the changes in social security policy, in technology and in demography may account for most of the changes in retirement over the second part of the last century in the U.S. economy. We develop a dynamic general equilibrium model with endogenous retirement that embeds social security legislation. The model is able to match very closely the increase in the retirement rate of males aged 65 and older. It also quanti es the isolated impact on retirement and on the solvency of the social security system of the di¤erent factors. The model suggests that technological and demographic changes had a strong in uence on retirement, so that it would have increased signi cantly even if the social security rules had not changed. However, as the latter became much more generous in the past, changes in social security policy can account not only for a sizeable part of the expansion of retirement, but also for the most of the observed increase in the social security expenses as a share of GDP. |
publishDate |
2010 |
dc.date.accessioned.fl_str_mv |
2010-10-21T13:45:45Z |
dc.date.available.fl_str_mv |
2010-10-21T13:45:45Z |
dc.date.issued.fl_str_mv |
2010-10-21 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
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article |
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http://hdl.handle.net/10438/7703 |
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eng |
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eng |
dc.relation.ispartofseries.por.fl_str_mv |
Ensaios Econômicos;710 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
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openAccess |
dc.publisher.none.fl_str_mv |
Fundação Getulio Vargas. Escola de Pós-graduação em Economia |
publisher.none.fl_str_mv |
Fundação Getulio Vargas. Escola de Pós-graduação em Economia |
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