Labor supply and government programs: A cross-country analysis |
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Authors: | André s Erosa,Luisa Fuster,Gueorgui Kambourov |
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Affiliation: | 1. IMDEA Social Sciences Institute, Calle Isaac Newton 2, Tres Cantos, 28760 Madrid, Spain;2. University of Toronto, 150 St. George St., Toronto, ON, M5S 3G7 Canada;3. National Bureau of Economic Research, Cambridge, MA, USA;4. Rimini Center for Economic Analysis, Rimini, Italy |
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Abstract: | There are substantial cross-country differences in labor supply late in the life cycle (age 50+). A theory of labor supply and retirement decisions is developed to quantitatively assess the role of social security, disability insurance, and taxation for understanding differences in labor supply late in the life cycle across European countries and the United States. The findings support the view that government policies can go a long way towards accounting for the low labor supply late in the life cycle in the European countries relative to the United States, with social security rules accounting for the bulk of these effects. |
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Keywords: | Social security Disability insurance Labor supply Heterogeneity Life cycle |
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