Social Security and Retirement in Uruguay
利用乌拉圭主要养老金计划的工作记录，估计了退休行为的结构性生命周期模型，发现1995年养老金改革对退休年龄影响很小，许多人受经济激励影响不大。
We estimate a structural life-cycle model for retirement behaviour using work history records of the main Uruguayan pension programme. The estimated coefficient of relative risk aversion is around 1.5 and the estimated discount rate is about 1.8 per cent per annum. The marginal disutility of work increases with age and is larger for women than men, and for private than public employees. Simulations show a very low impact of the 1995 pension reform on retirement ages. Many individuals in this population respond little to economic incentives and some individuals would advance rather than postpone retirement after the reform.