期刊名称：Hacienda Pública Española. Revista de Economía Pública
印刷版ISSN：0210-1173
出版年度：2006
卷号：2006
期号：179
页码：9-9
出版社：Ministerio de Hacienda, Instituto de Estudios Fiscales
摘要：Pension systems are often blamed for distorting the retirement age and they are held responsible for the widely observed
trend towards early retirement. In a world of laissez-faire or in a first-best setting, there would be no such distortions.
However, they may be unavoidable when first-best instruments are not available, because health and productivity
are not observable. We show that while there is no doubt that retirement age is too low in many countries, a
complete elimination of this bias is not the right answer. In other words, reforms that involve a switch to an
actuarially fair system would be overshooting. We present normative and positive arguments. First, some distortions
are second-best optimal. Second, and on the positive side, the elimination of the bias might be problematic from a
political perspective.
关键词：social security, early retirement, optimal income taxation, majority voting.
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