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José de Jesús Rocha Salazar and María del Carmen Boado-Penas
''How Macroeconomic and Financial Fluctuations Affect Retirement: The Case of an Oil Producing Country.''
( 2019, Vol. 39 No.4 )
This paper analyzes the impact of macroeconomic and financial variables on retirement. Special attention is given to petroleum prices since this variable has not been taken into account in previous studies and is essential for those countries immersed in the trade of this natural resource. Not only unemployment rate but also stock market and petroleum prices are considered as explanatory variables in our model. The study considers the reactions of retirement by gender, age and level of education. We conclude that in the long term, there is an increase in the number of new pensioners when oil prices decrease.
Keywords: Financial effect; macroeconomic effect; petroleum prices; retirement decisions
JEL: Q4 - Energy: General
E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General
Manuscript Received : Jun 24 2019 Manuscript Accepted : Dec 21 2019

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