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Labor Supply and Retirement Policy in An Overlapping Generations Model With Stochastic Fertility [electronic resource] Jensen, Svend E. Hougaard

Author/Creator:
Jensen, Svend E. Hougaard
Other Title:
World Bank working papers.
Publication:
Washington, D.C., The World Bank, 2010
Series:
Policy research working papers.
World Bank e-Library.
Format/Description:
Government document
Book
1 online resource
System Details:
Mode of access: World Wide Web.
Summary:
Using a stochastic general equilibrium model with overlapping generations, this paper studies a policy rule for the retirement age aiming at offsetting the effects on the supply of labor following fertility changes. The authors find that the retirement age should increase more than proportionally to the direct fall in labor supply caused by a fall in fertility. The robustness of this result is checked against alternative model specifications and parameter values. The efficacy of the policy rule depends crucially on the link between the preference for leisure and the response of the intensive margin of labor supply to changes in the statutory retirement age. The model has subsequently been calibrated for Brazil by Jorgensen (2010), in the context of the Brazil Aging Study.
Notes:
Description based on print version record.
Contributor:
Jensen, Svend E. Hougaard
Jorgensen, Ole Hagen
World Bank.
Other format:
Print version: Jensen, Svend E. Hougaard. Labor Supply and Retirement Policy in An Overlapping Generations Model With Stochastic Fertility.
Publisher Number:
10.1596/1813-9450-5382
Access Restriction:
Restricted for use by site license.
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