Resumen

This paperinvestigates early retirement determinants across several European countries using therich 2005 SHARE (Survey of Health, Aging and Retirement in Europe) microdataset,which produces more precise estimates of the effects of institutional and economicfactors like pension systems, unemployment, and employment protection legislation.The analysis shows that pension systems offering generous early retirement optionsencourage early departure from the labor market. In addition, pension wealth accrualrate exerts a greater influence on early retirement decisions than does the averagereplacement rate, while stricter employment protection legislation has no significantimpact.