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, we show that employees respond to within-year variation in their retirement incentives and, consistent with peer effects …, that they respond more strongly to these incentives when more of their coworkers face similar incentives. Finally …
Persistent link: https://www.econbiz.de/10010969253
We study the empirical determinants of intertemporal choice by analyzing a unique decision Croatian retirees made recently about whether to accept an immediate pension payment or a larger stream of delayed payments. Individual decisions are correlated in sensible ways with income, liquidity...
Persistent link: https://www.econbiz.de/10010969313
Why are public-sector workers so heavily compensated with pensions and other non-pecuniary benefits? In this paper, we present a political economy model of shrouded compensation in which politicians compete for taxpayers' and public employees' votes by promising compensation packages, but some...
Persistent link: https://www.econbiz.de/10010969337
framing experiment, which shows that how the incentives for delayed claiming are presented has an impact on hypothetical …
Persistent link: https://www.econbiz.de/10010969349
how financial incentives induce DI recipients to return to work. We find that many DI recipients have considerable … capacity to work that can be effectively induced by providing financial work incentives. We further show that providing work … incentives to DI recipients may both increase their disposable income and reduce program costs. Our findings also suggest that …
Persistent link: https://www.econbiz.de/10010969414
have income below the poverty level in their last years of life. Many of these individuals have few assets to draw on to …
Persistent link: https://www.econbiz.de/10010969443
This paper calculates the effect that introducing risk-sharing during either retirement or the working life would have on public sector pension liabilities. We begin by considering the introduction of a variable annuity for the retirement phase, modeled on the Wisconsin Retirement System, in...
Persistent link: https://www.econbiz.de/10010969448
Disability insurance (DI) applications and awards are countercyclical. One potential explanation is that unemployed individuals who exhaust their Unemployment Insurance (UI) benefits use DI as a form of extended benefits. We exploit the haphazard pattern of UI benefit extensions in the Great...
Persistent link: https://www.econbiz.de/10010969455
Retirement Around the World. The first phase described the retirement incentives inherent in plan provisions and documented the … strong relationship across countries between social security incentives to retire and the proportion of older persons out of …
Persistent link: https://www.econbiz.de/10010950785
We describe the risks faced by the ageing population and survey the corresponding insurance markets for these risks. We focus on income risk, health expenditure risk, long-term care expenditure risk and mortality risk. We also discuss the interactions between social insurance and private...
Persistent link: https://www.econbiz.de/10010950891