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Does Raising the Retirement Age Increase Employment of Older Workers?
Staubli, Stefan; Zweimüller, Josef - C.E.P.R. Discussion Papers - 2011
This paper studies how an increase in the minimum retirement age affects the labor market behavior of older workers. Between 2000 and 2006 the Austrian government gradually increased the early retirement age from 60 to 62.2 for men and from 55 to 57.2 for women. Using administrative data on the...
Persistent link: https://www.econbiz.de/10009275966
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Fatal Attraction? Access to Early Retirement and Mortality
Kuhn, Andreas; Wuellrich, Jean-Philippe; Zweimüller, Josef - C.E.P.R. Discussion Papers - 2010
We estimate the causal effect of early retirement on mortality for blue-collar workers. To overcome the problem of endogenous selection, we exploit an exogenous change in unemployment insurance rules in Austria that allowed workers in eligible regions to withdraw from the workforce up to 3.5...
Persistent link: https://www.econbiz.de/10008677238
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Career Length: Effects of Curvature of Earnings Profiles, Earnings Shocks, and Social Security
Ljungqvist, Lars; Sargent, Thomas J - C.E.P.R. Discussion Papers - 2010
The high labor supply elasticity in an indivisible-labor model with employment lotteries emerges also without lotteries when individuals must instead choose career lengths. The more elastic are earnings to accumulated working time, the longer is a worker's career. Negative (positive)...
Persistent link: https://www.econbiz.de/10008468641
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Social Security and Retirement Decision: A Positive and Normative Approach
Cremer, Helmuth; Lozachmeur, Jean-Marie; Pestieau, Pierre - C.E.P.R. Discussion Papers - 2006
Social insurance for the elderly is judged responsible for the widely observed trend towards early retirement. In a world of laissez-faire or in a first-best setting, there would be no such trend. However, when first-best instruments are not available, because health and productivity are not...
Persistent link: https://www.econbiz.de/10005662373
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Personal Pensions with Risk sharing: Affordable, Adequate and Stable Private Pensions in Europe
Bovenberg, A Lans; Nijman, Theo E - C.E.P.R. Discussion Papers - 2015
these developments, policyholders desire pensions tailored to their individual needs. This paper proposes a new type of … risk-sharing functions of pensions, PPRs allow risk management and (dis)saving to be customized to the specific features of … illiquid capital, complementing public retirement provision, reducing the interest-rate sensitivity of pensions and smoothing …
Persistent link: https://www.econbiz.de/10011252616
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Time Inconsistent Preferences and the Annuitization Decision
Schreiber, Philipp; Weber, Martin - C.E.P.R. Discussion Papers - 2015
When entering retirement most people face the decision whether they would like their defined contribution account balance paid as a lump sum or to annuitize the amount. The fact that people tend to choose the lump sum even if economic reasons suggest not to is called the annuity puzzle. In a...
Persistent link: https://www.econbiz.de/10011165648
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The effect of firms' partial retirement policies on the labour market outcomes of their employees
Huber, Martin; Lechner, Michael; Wunsch, Conny - C.E.P.R. Discussion Papers - 2013
In this paper, we assess the impact of firms introducing part-time work schemes for gradual labour market exit of elderly workers on their employees’ labour market outcomes. The analysis is based on unique linked employer-employee data that combine high-quality survey and administrative data....
Persistent link: https://www.econbiz.de/10011084617
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An Econometric Analysis of the Mental-Health Effects of Major Events in the Life of Elderly Individuals
Lindeboom, Maarten; Portrait, France; den Berg, Gerard J van - C.E.P.R. Discussion Papers - 2001
Major events in the life of an elderly individual, such as retirement, a significant decrease in income, death of the spouse, disability, and a move to a nursing home, may affect the mental health status of the individual. For example, the individual may enter a prolonged depression. We...
Persistent link: https://www.econbiz.de/10005666455
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Taxes, Benefits, and Careers: Complete Versus Incomplete Markets
Ljungqvist, Lars; Sargent, Thomas J - C.E.P.R. Discussion Papers - 2007
An incomplete markets life-cycle model with indivisible labour makes career lengths and human capital accumulation respond to labour tax rates and government supplied non-employment benefits. We compare aggregate and individual outcomes in this individualistic incomplete markets model with those...
Persistent link: https://www.econbiz.de/10005656326
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Longevity and Lifetime Labour Input: Data and Implications
Hazan, Moshe - C.E.P.R. Discussion Papers - 2006
The Ben-Porath (1967) mechanism suggests that prolonging the period during which individuals may receive returns on their investment spurs investment in human capital and causes growth. An important, albeit implicit implication of this mechanism is that the total labour input over a lifetime...
Persistent link: https://www.econbiz.de/10005498180