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In this paper, we analyze the sensitivity of the labor market decisions of workers close to retirement with respect to the incentives created by public regulations. We improve upon the extensive prior literature on the effect of pension incentives on retirement by jointly modeling the transitions between employment, unemployment and retirement, paying special attention to the transition from unemployment...
In the face of demographic change there is an urgent need for financial, social and fiscal reforms. This article looks at Southern Europe, and the case of Spain in particular, for the efforts put forward to combat the challenges of demographic change. The author identifies innovative pension system reforms, public debt reduction and the extension of working life as top priorities. Reform in these...
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