Business, Management and Accounting
4 years ago

Early retirement policy shifts tax burden to future generations, hinders economic growth.

Journal of Public Economics
The macroeconomics of early retirement
J. Ignacio Conde‐Ruiz, Vincenzo Galasso

Paper Summary

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The article discusses why early retirement was implemented, even though it hinders economic growth by reducing human capital accumulation. The policy was chosen over alternatives that would have been more costly for current workers. High-income workers who didn't plan to retire early and low-income workers who expected to benefit from early retirement pensions formed a coalition to support this policy.