Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/89807
Authors: 
Jousten, Alain
Lefèbvre, Mathieu
Perelman, Sergio
Year of Publication: 
2013
Series/Report no.: 
IZA Discussion Paper 7783
Abstract: 
Many Belgian retire well before the statutory retirement age. Numerous exit routes from the labor force can be identified: old-age pensions, conventional early retirement, disability insurance, and unemployment insurance are the most prominent ones. We analyze the retirement decision of Belgian workers adopting an option value framework, and pay special attention to the role of health status. We estimate probit models of retirement using data from SHARE. The results show that health and incentives matter in the decision to exit from the labor market. Based on these results, we simulate the effect of potential reforms on retirement.
Subjects: 
unemployment
early retirement
disability
social security
pensions
labor force participation
JEL: 
H55
J21
J26
J14
Document Type: 
Working Paper

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