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The government of Mysteryland has just reformed its social security system. This reform changed two aspects of the system: (1) It abolished its actuarial reduction
The government of Mysteryland has just reformed its social security system. This reform changed two aspects of the system: (1) It abolished its actuarial reduction for early retirement, and (2) it reduced the payroll tax by half for workers who continued to work beyond the early retirement age. Will the average retirement age for Mysteryland workers increase or decrease in response to these two changes, or cant you tell? Explain your answer.
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