Showing 1 - 10 of 261
retirement behavior as low-skilled Germans. The results are consistent with low-skilled workers in Germany being frozen in a …
Persistent link: https://www.econbiz.de/10011143941
The paper provides a framework for the conceptualization, definition and estimation of legacy costs that need to be addressed in a reform that transforms an unfunded defined contribution (NDB) scheme into a notional (or non-financial) defined contribution (NDC) scheme. As the new contribution...
Persistent link: https://www.econbiz.de/10008694992
Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...
Persistent link: https://www.econbiz.de/10008632739
We exploit a comprehensive restructuring of the early retirement system in Norway in 2011 to examine labor supply …
Persistent link: https://www.econbiz.de/10011163476
As a preliminary step, we first provide some new empirical evidence that labor market conditions affect retirement … propose an equilibrium unemployment approach to retirement decisions that allows us to unveil the factors which explain why …: the retirement decision of unemployed workers depends on the labor-market frictions whereas that of employed workers does …
Persistent link: https://www.econbiz.de/10011279299
participation in the 60+ group. We analyze trends for the early retirement age interval 60-64 and for the age group 65-74 where … has been most pronounced among 60-64-year-olds and among women. We find significant impact on work after retirement from … education, gender, home ownership, aggregate unemployment at the time of retirement, age and education. Being married has a …
Persistent link: https://www.econbiz.de/10011279364
This paper presents results on the effect of formal life-long learning on the decision to retire early. Specifically, I estimate an Option Value model based on individual employer-employee longitudinal data including comprehensive government co-sponsored training records dating back more than 30...
Persistent link: https://www.econbiz.de/10009646304
employed. Observed covariates including wages and retirement benefits help to explain these patterns, but unobserved …
Persistent link: https://www.econbiz.de/10005822123
Consumption expenditure declines sharply at the time of retirement for many households, but the majority maintain a … smooth consumption path. A simple life cycle model with uncertainty about the time of retirement can account for this pattern …. A richer version of the model is calibrated to data from the Health and Retirement Study. The median change in …
Persistent link: https://www.econbiz.de/10005822183
We study the welfare effects of earnings testing flat-rate old-age benefits in a quantitative overlapping generations model with idiosyncratic labor income risk. In our model economy, even a moderate earnings testing reduces individuals’ expected lifetime utility, whenever other taxes are...
Persistent link: https://www.econbiz.de/10005763479