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A model is presented that explains the mix between funded and unfunded pension systems. It turns out that total pension and the relative shares of the two systems may be explained and are determined by the population growth rate, technological growth, the time-preference discount rate, the...
Persistent link: https://www.econbiz.de/10011257498
incentives matter for the retirement behavior of the self-employed. We also provide evidence of the self-employed not wanting to … retire as early as possible, and contrast these expectation data with realized retirement transitions. The overall picture …
Persistent link: https://www.econbiz.de/10011256137
We estimate and explain the impact of early retirement of husbands on their wives’ probability to retire within one … approach in which the retirement choice of husbands is instrumented with eligibility rules for generous early retirement … benefits that were temporarily and unexpectedly available to them. We find that early retirement opportunities of husbands …
Persistent link: https://www.econbiz.de/10011256670
pension wealth, accrual and peak value are significant determinants of retirement decisions, although their effect is weaker …We estimate the impact of health and financial incentives on the retirement transitions of older workers in Spain …. Individual measures of pension wealth, peak and accrual values are constructed using labor market histories and health shocks are …
Persistent link: https://www.econbiz.de/10011255520
scheme contains within-cohort redistribution and induces early retirement. Such a Pareto-improving reform entails the …-neutrality that stimulates later retirement further improves such a flexibility reform. …
Persistent link: https://www.econbiz.de/10011256966
Using Italian data, we estimate an option value model to quantify the effectof financial incentives on retirement …
Persistent link: https://www.econbiz.de/10011257328
This study explored the psychological mechanisms that underlie the retirement planning and saving tendencies of Dutch … analysis models to identify the mechanisms that underlie perceived financial preparedness for retirement. Findings revealed … psychological and retirement planning constructs, but also in the robustness of the path models. These findings suggest that policy …
Persistent link: https://www.econbiz.de/10011256396
Theoretical models predict a positive impact of the level of individual wealth on the job exit probability. Empirically … this prediction is most likely to be relevant for elderly workers who have accumulated wealth throughout their working life … the introduction of more individual freedom of choice in pension schemes. The individual level of wealth will become an …
Persistent link: https://www.econbiz.de/10011256556
Private wealth holdings are likely to become an increasingly important determinant in the job exit decision of elderly … workers. Net wealth may correlate with worker's characteristics that also determine the exit out of a job. It is therefore … important to include a rich set of observed characteristics in an empirical model for retirement in order to measure the …
Persistent link: https://www.econbiz.de/10011256927
rights over the pension funds’ wealth. The problem is best resolved by the introduction of generational accounts. Modern …
Persistent link: https://www.econbiz.de/10011255727