Journal of Population Economics

, Volume 5, Issue 3, pp 229–243 | Cite as

Retirement decisions in a discrete choice model and implications for the government budget The case of Belgium

  • G. Pepermans


The purpose of this paper is to examine the determinants of the retirement decision of the elderly in Belgium. The model used is an extension of the participation model. It offers three choices: full-time work, part-time work and retirement. A CES-utility function is maximised over this opportunity set. Estimation was done on two separate samples for men and women. Using the estimation results, the financial consequences of some policy changes in the social security system are calculated.


Social Security Estimation Result Policy Change Choice Model Security System 
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Copyright information

© Springer-Verlag 1992

Authors and Affiliations

  • G. Pepermans
    • 1
  1. 1.Center for Economic StudiesCatholic University of LeuvenLeuvenBelgium

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