Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/193254 
Year of Publication: 
2018
Series/Report no.: 
IZA Discussion Papers No. 11960
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
Pension reforms, which imply a reduction in the generosity of pension benefits, are becoming widespread in response to the demographic transition. The scale, the timing, and the pace of these reforms vary across countries. In this theoretical article, authors analyse individual migration decisions, by adding a component linked to the expected old-age pension benefits in sending and receiving countries in two cases: when the pension system rules are known, and when there is a risk of the pension systems reforms. The results indicate that when individuals fail to take future pension wealth into account, they can make sub-optimal migration decisions.
Subjects: 
migration decision
pension benefits
pension reforms
institutional uncertainty
JEL: 
F22
J24
J26
J61
Document Type: 
Working Paper

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