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Macroeconomic implications of early retirement in the public sector: The case of Brazil

Glomm, Gerhard; Jung, Juergen; Tran, Chung

Description

In Brazil generous public sector pensions have induced civil servants to retire on average at age 55. In this paper we assess the efficiency gains from eliminating such policy induced early retirement in a two-sector overlapping generations economy. We find the adverse effects of that policy are significant. Specifically, the generosity of public sector pensions which induces civil servants to retire 5 years prematurely (at age 55 rather than at age 60) is often associated with decreases in...[Show more]

CollectionsANU Research Publications
Date published: 2009
Type: Journal article
URI: http://hdl.handle.net/1885/33872
Source: Journal of Economic Dynamics and Control
DOI: 10.1016/j.jedc.2008.08.012

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