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Pension Reform Disabled*
Scandinavian Journal of Economics ( IF 1.109 ) Pub Date : 2020-12-17 , DOI: 10.1111/sjoe.12433
Sigurd Mølster Galaasen 1
Affiliation  

This paper builds a quantitative life-cycle model with endogenous retirement to study how disability insurance (DI) and old-age pension programs interact with health and wages to determine retirement age. Individuals face uncertain future health and wages, and if in bad health, they can retire with DI before reaching the statutory retirement age. I use the model to evaluate the macroeconomic impact of pension reforms. The main contribution is that, in contrast to standard macro pension models, my model includes DI as another endogenous retirement margin. I show that it is crucial to account for program substitution when evaluating welfare reforms.

中文翻译:

养老金改革无效*

本文构建了一个内生退休的量化生命周期模型,研究伤残保险(DI)和养老金计划如何与健康和工资相互作用以确定退休年龄。个人面临不确定的未来健康和工资,如果健康状况不佳,他们可以在达到法定退休年龄之前与 DI 一起退休。我使用该模型来评估养老金改革的宏观经济影响。主要贡献是,与标准的宏观养老金模型相比,我的模型将 DI 作为另一个内生退休边际。我表明,在评估福利改革时考虑项目替代是至关重要的。
更新日期:2020-12-17
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