NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
loading...

Health Status, Disability Insurance, and Incentives to Exit the Labor Force in Italy: Evidence from SHARE

Agar Brugiavini, Franco Peracchi

Chapter in NBER book Social Security Programs and Retirement Around the World: Disability Insurance Programs and Retirement (2016), David A. Wise, editor (p. 411 - 454)
Conference held September 26-28, 2013
Published in January 2016 by University of Chicago Press
© 2016 by the National Bureau of Economic Research
in NBER Book Series - International Social Security

This chapter analyzes the retirement behavior of Italian employees by considering different pathways to retirement such as old age, early retirement and disability insurance. In particular, we focus on the role played by health conditions and socio-economic factors beyond and above the financial incentives associated to each pathway. These incentives are measured by the option value of working an extra year vis-à-vis leaving the labor force through one of the alternative routes. The Italian experience has been characterized for many years by a relevant early retirement option, but a renewed interest by workers for disability pensions could stem from the recent pension reforms, which introduced tighter eligibility criteria for early exits.

The financial incentives of the different pathways are used in a dynamic way, controlling for health conditions measured by an overall health index. The econometric estimates are based on the SHARE data: we find that the recent reforms have induced some delay in the retirement decision and that health has important effects on the decision of working in old age.

download in pdf format
   (1395 K)

email paper

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): https://doi.org/10.7208/chicago/9780226262604.003.0010

Users who downloaded this chapter also downloaded* these:
García-Gómez, Jimenez-Martin, and Vall Castelló Financial Incentives, Health, and Retirement in Spain
Jürges, Thiel, Bucher-Koenen, Rausch, Schuth, and Börsch-Supan Health, Financial Incentives, and Early Retirement: Microsimulation Evidence for Germany
Jousten, Lefebvre, and Perelman Health Status, Disability, and Retirement Incentives in Belgium
Coile, Milligan, and Wise Introduction to "Social Security Programs and Retirement Around the World: Disability Insurance Programs and Retirement"
Bingley, Gupta, Jorgensen, and Pedersen Health, Disability Insurance, and Retirement in Denmark
 
Publications
Activities
Meetings
NBER Videos
Themes
Data
People
About

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us