Social Security Programs ans Retirement around the World – Fiscal Implications of Reform (National Bureau of Economic Research Conference Report) - Hardcover

Gruber, Jonathan; Wise, David A

Hardcover

ISBN 10: 0226310175 ISBN 13: 9780226310176

Publisher: University of Chicago Press, 2007

Synopsis

The future of retirement programs is troubled, both in the United States and in most other developed countries with aging populations. As improvements in health care and changes in lifestyles enable retirees to live longer than ever before, the stress on national budgets will increase substantially. In "Social Security Programs and Retirement" around the World, Jonathan Gruber, David A. Wise, and experts in many countries examine the consequences of reforming retirement benefits in a dozen nations. Drawing on the work of an international group of noted economists, the editors argue that social security programs provide strong incentives for workers to leave the labor force by retiring and taking the benefits to which they are entitled. By penalizing work, social security systems magnify the increased financial burden caused by aging populations, thus contributing to the insolvency of the system. This book is a model of comparative analysis that evaluates the effects of illustrative policies for countries facing the impending rapid growth of social security benefits. Its insights will help inform this most pressing debate.

About this title

About the Author

Jonathan Gruber is professor of economics at the Massachusetts Institute of Technology and director of the Program on Children at the NBER, where he is a research associate. He is coeditor of the Journal of Public Economics and associate editor of the Journal of Health Economics. David A. Wise is the John F. Stambaugh Professor of Political Economy at the John F. Kennedy School of Government, Harvard University, and director of the Programs on Aging and Health Care at the NBER.

From the Back Cover

"Social Security Programs and Retirement around the World" represents the second stage of an ongoing research project studying the relationship between social security and labor. In the first volume, Jonathan Gruber and David A. Wise revealed enormous disincentives to continued work at older ages in developed countries. Provisions of many social security programs typically encourage retirement by reducing pay for work, inducing older employees to leave the labor force early and magnifying the financial burden caused by an aging population. At a certain age there is simply no financial benefit to continuing to work.In this volume, the authors turn to a country-by-country analysis of retirement behavior based on micro-data. The result of research compiled by teams in twelve countries, the volume shows an almost uniform correlation between levels of social security incentives and retirement behavior in each country. The estimates also show that the effect is strikingly uniform in countries with very different cultural histories, labor market institutions, and other social characteristics.

Edition details

• Publisher: University of Chicago Press
• Publication date: 2007
• Language: English
• ISBN 10: 0226310175
• ISBN 13: 9780226310176
• Binding: Hardcover
• Number of pages: 392