2015
DOI: 10.1080/00220388.2014.983911
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Social Security and Retirement in Uruguay

Abstract: We estimate a structural life-cycle model for retirement behaviour using work history records of the main Uruguayan pension programme. The estimated coefficient of relative risk aversion is around 1.5 and the estimated discount rate is about 1.8 per cent per annum. The marginal disutility of work increases with age and is larger for women than men, and for private than public employees. Simulations show a very low impact of the 1995 pension reform on retirement ages. Many individuals in this population respond… Show more

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Cited by 2 publications
(1 citation statement)
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“…The Uruguayan social security system has undergone important changes in the last decades. In 1996 several key parameters in the pay as you go (PAYG) system were changed, and individual accounts were gradually introduced (see Forteza & Sanroman, ). Workers who exceed an income threshold have to contribute to both systems.…”
Section: The Uruguayan Caregiver Credit Program: Who Is Benefiting Anmentioning
confidence: 99%
“…The Uruguayan social security system has undergone important changes in the last decades. In 1996 several key parameters in the pay as you go (PAYG) system were changed, and individual accounts were gradually introduced (see Forteza & Sanroman, ). Workers who exceed an income threshold have to contribute to both systems.…”
Section: The Uruguayan Caregiver Credit Program: Who Is Benefiting Anmentioning
confidence: 99%