Aggregate effects of social security reform in 2008

Official URL: http://192.168.1.20/record=b1379293 (Table of Contents)

In this study, we investigate the effects of social security reform in 2008 on aggregate variables. We focus only on to the change in retirement age of this reform by leaving the other structural and administrative changes aside. Our main results are as follows: (i) social security reform has a great positive effect on capital accumulation; (ii) aggregate labor supply in efficiency units increases while mean labor hours remain relatively costant; (ii) social security tax rate to balance the budget of social security system decreases dramatically.