Retirement in Italy and Norway

Arbeitspapier

A structural model for retirement and employment based on a flexible, parametric utility function is developed. The model requires only cross section data and is estimated on survey data for Italy and register data for Norway. The estimates indicate that the preference structure among middle-aged Italian males and Norwegian males and females who are approaching retirement has strong similarities. The utility function estimates from a model with no consumption smoothing, seem more reasonable than estimates from a model with a perfect credit market. Policy simulations indicate a somewhat stronger response to cuts in pension benefits in Norway than in Italy.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Memorandum ; No. 2003,10

Classification and Topics

• Classification: Wirtschaft ; Household Behavior: General ; Social Security and Public Pensions ; Retirement; Retirement Policies
• Subject: Retirement ; inter-temporal interpretation ; estimates and policy ; simulations ; Italy ; Norway ; Altersgrenze ; Zeitpräferenz ; Schätzung ; Italien ; Norwegen

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Colombino, Ugo ; Hernæs, Erik ; Jia, Zhyiang ; Strøm, Steinar
• Event: Veröffentlichung
• (who): University of Oslo, Department of Economics
• (where): Oslo
• (when): 2003

Further information

• Handle: http://hdl.handle.net/10419/63129
• Last update: 10.03.2025, 11:44 AM CET