Réformer le système de retraite pour accroître l'emploi et la productivité des seniors/Reforming the pension system to increase employment and productivity of older workers

• Published in: Revue d'économie politique no. 5; p. 755
• Main Authors: Khaskhoussi, Tarek, Langot, François
• Format: Magazine Article
• Language: French
• Published: Paris Editions Dalloz Sirey 01-09-2014
• Subjects: Employment; Impact analysis; Older workers; Pension plans; Productivity; Regulatory reform; Training; France
• ISSN: 0373-2630; 2105-2883

  In this paper, we show that a short distance to the age of the full rate is one factor explaining not only the lowest employment rate of the seniors, but also to their low investment in training. This gives a new dividend to the incentive policies to postpone the retirement age: extending the worker horizon gives incentives to better train seniors. This increase in the labor productivity raises the earnings of the employment recovery. A model of job search where the age of retirement and the investments in human capital are simultaneously endogenous, provides the theoretical basis for these mechanisms. Its simulation, based on a calibration of the French case, shows that the contribution of the workers over 55 years old in total output increases from 9.5% to 16%, with progression more than 10% of individual productivity on these age groups.