micro modelling of retirement behavior in spain michele boldrin univ minnesota and cepr sergi jim enez mart n universidad carlos iii franco peracchi universit adiromatorvergata this version december 3 2000 we thank paqui nez aitor deleyto for excellent research assistance contents 1 introduction 2 institutional features 4 publicprogramsforold ageworkers socialsecurityregimesandtheirrules 5 thegeneralregime specialschemes 8 self employed farmers 9 governmentemployees 6 disabilityandunemploymentpensions 10 7 pathwaystoretirement 3datadescription 11 themaindataset dataproblemsinhlss 13 sampleselectionrules 15 keyelementsindatahandling earnings distribution histories projections 21 earningsdistribution coveredearningsandprojectionsforindividualsinrgss rtmc 26 coveredearningsandprojectionsforindividualsinress evaluation social security incentives assumptionsmadeinthecomputations calculatingssincentives 27 resultsunderthe1985system 28 models the year 1995 32 sampleevidence retirementmodels policy simulations 35 descriptionofthesimulations resultsformaleworkersinthergss 37 resultsforfemaleworkersinthergss resultsforindividualsinthereta e ectsofreformsonaverageretirementages 38 final remarks a from covered earning to
