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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/19035| Title: | Early retirement and social security : a long term perspective |
| Keywords: | H55 D72 H53 ddc:330 pensions income effect tax burden politico-economic Markovian equilibrium Flexible Altersgrenze Soziale Sicherung Sozialversicherungsbeitrag Public Choice Einkommenseffekt Alternde Bevölkerung Theorie |
| Issue Date: | 16-Oct-2013 |
| Description: | We provide a long-term perspective on the individual retirement behaviour and on the future of retirement. In a Markovian political economic theoretical framework, in which incentives to retire early are embedded, we derive a political equilibrium with positive social security contribution rates and early retirement. Aging has two opposite effects: it leads to lower taxes and fewer (early) retirees, while a poorer median voter will push for higher contributions. The model highlights the existence of crucial income effects: a decrease of the income of young people will induce them to postpone retirement and to vote for less social security. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/19035 |
| Other Identifiers: | http://hdl.handle.net/10419/19035 ppn:503705349 |
| Appears in Collections: | EconStor |
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