Raising the Age of Retirement: An Example of Political Ratchet Effect

18 Pages Posted: 8 Mar 2012

See all articles by Mathieu Lefèbvre

Mathieu Lefèbvre

University of Strasbourg

Sergio Perelman

University of Liege - Department of Economics

Pierre Pestieau

University of Liege - Research Center on Public and Population Economics; Centre for Economic Policy Research (CEPR); CESifo (Center for Economic Studies and Ifo Institute); Catholic University of Louvain (UCL) - Center for Operations Research and Econometrics (CORE)

Jean-Pierre Vidal

European Central Bank (ECB)

Date Written: March 31, 2005

Abstract

Political resistance to a progressive increase in the retirement age is widespread in a number of European countries. We present a simple model explaining why such a reform can be opposed even when it is profitable to a majority of citizens. Then, we try to explain the existence of wide differences in the average length of retirement across countries and over time.

Suggested Citation

Lefèbvre, Mathieu and Perelman, Sergio and Pestieau, Pierre and Vidal, Jean-Pierre, Raising the Age of Retirement: An Example of Political Ratchet Effect (March 31, 2005). Available at SSRN: https://ssrn.com/abstract=2017711 or http://dx.doi.org/10.2139/ssrn.2017711

Mathieu Lefèbvre (Contact Author)

University of Strasbourg ( email )

Strasbourg
France

Sergio Perelman

University of Liege - Department of Economics ( email )

7 Boulevard du Rectorat
Batiment B31
4000 Liege
Belgium
+32 4 156 3098 (Phone)
+32 4 156 2958 (Fax)

Pierre Pestieau

University of Liege - Research Center on Public and Population Economics ( email )

Boulevard du Rectorat, 7, Batiment 31
Sart-Tilman
B-4000 Liege, 4000
Belgium
+32 4 366 3108 (Phone)
+32 4 366 3106 (Fax)

Centre for Economic Policy Research (CEPR)

London
United Kingdom

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5
Munich, DE-81679
Germany

HOME PAGE: http://www.CESifo.de

Catholic University of Louvain (UCL) - Center for Operations Research and Econometrics (CORE) ( email )

34 Vopie Roman Pays
Louvain la Neuve
Belgium

Jean-Pierre Vidal

European Central Bank (ECB) ( email )

Sonnemannstrasse 22
Frankfurt am Main, 60314
Germany

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