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oo busy to stay at work. How willing are Italian workers “to pay†for earlier retirement?

Author

Listed:
  • Flavia Coda Moscarola

    (CeRP - Collegio Carlo Alberto)

  • Riccardo Calcagno

    (Emlyon Business School)

  • Elsa Fornero

    (Università di Torino and CeRP- Collegio Carlo Alberto)

Abstract

Using a representative sample of Italian workers aged 55+, we survey their understanding of the recent (2011) pension reform and analyse their preference for earlier retirement and willingness to pay for exiting the workforce a year earlier. The preference for earlier retirement is particularly strong for women and for workers who were obliged by the reform to postpone retirement. As for the willingness to pay, we find that women who are involved in informal care of children are willing to pay significantly more than women who are not caregivers, and more than men. In terms of policy, our findings point to the need for considering side effects of reforms and of integrating policy measures. In particular, when a pension system compensates for gaps in other welfare programs (like providing early retirement as a substitute for lack of public care services), its reform may cause social mismatches unless supplemented by appropriate changes in these other programs.

Suggested Citation

  • Flavia Coda Moscarola & Riccardo Calcagno & Elsa Fornero, 2017. "oo busy to stay at work. How willing are Italian workers “to pay†for earlier retirement?," Economics Bulletin, AccessEcon, vol. 37(3), pages 1694-1707.
    • Handle: RePEc:ebl:ecbull:eb-17-00149
    as

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    References listed on IDEAS

    as
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    Cited by:

    1. Cerciello, Massimiliano & Agovino, Massimiliano & Garofalo, Antonio, 2019. "The caring hand that cripples? The effects of the European regional policy on local labour market participation in Southern Italy," Socio-Economic Planning Sciences, Elsevier, vol. 68(C).
    2. Agovino Massimiliano & Garofalo Antonio & Cerciello Massimiliano, 2019. "Do Local Institutions Affect Labour Market Participation? The Italian Case," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 19(2), pages 1-21, April.
    3. Elsa Fornero & Noemi Oggero & Riccardo Puglisi, 2019. "Information and Financial Literacy for Socially Sustainable NDC Pension Schemes," World Bank Publications - Reports 31703, The World Bank Group.

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    More about this item

    Keywords

    pension reforms; anticipated retirement; gender bias; caregiving;
    All these keywords.

    JEL classification:

    • H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents
    • J2 - Labor and Demographic Economics - - Demand and Supply of Labor

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