Working Paper: NBER ID: w25375
Authors: Annelore Fraikin; Alain Jousten; Mathieu Lefebvre
Abstract: The paper traces labor market reforms over the last four decades. It provides estimates of retirement incentives for a selected set of typical worker profiles across time and socioeconomic groups and links these series to the labor market performance in Belgium. The results show that the numerous retirement and social security program reforms have had a marked impact on incentives at the micro level. At the aggregate level, results are less clear-cut given the extreme diversity of programs and features in the Belgian institutional context.
Keywords: Social Security; Retirement Incentives; Labor Market Reforms; Belgium
JEL Codes: H55; J26
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| Social security reforms (H55) | retirement incentives (J26) |
| Old-age pension system reforms (OAP) (H55) | retirement ages (J26) |
| Old-age pension system reforms (OAP) (H55) | incentives for early retirement (J26) |
| Increase in statutory eligibility age (SEA) (H55) | disincentives to remain employed (J63) |
| Changes in unemployment insurance (UI) system (J65) | retirement pathways (J26) |
| Eligibility conditions (I24) | proportion of retirees accessing OAP benefits (H55) |
| Introduction of seniority supplements (H55) | retirement decisions (J26) |
| Interaction between retirement incentives and labor market conditions (J26) | retirement patterns (J26) |