The final version of the paper has been published as “Retirement incentives in Belgium: estimations and simulations using SHARE data”, DOI: 10.1007/s10645-013-9213-5 in De Economist. The final version of this publication is available at http://link.springer.com.
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Abstract :
[en] The paper studies retirement behavior of wage‐earners in Belgium – for the first time using
a rich survey dataset to analyze retirement incentives as faced by individuals. Specifically,
we use SHARE data to estimate a model à la Stock and Wise (1990). Exploring the data on
individual life‐histories from SHARELIFE, we construct a measure of financial incentive to
retire. Our analysis explicitly takes into account the different take‐up rates of the various
early retirement exit paths across time and ages. The results show that financial incentives
play a strong role. Health and education also matter, as do regional differences. Against the
general background of the 2020 strategy, we perform a set of policy simulations and
illustrate the scope but also the limits associated with selective parametric reforms.
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