retirement age (FRA) of individuals with a long contribution history by up to two years and framed the new FRA as reference age … for retirement. Using administrative data from public pension insurance accounts, we first document a substantial bunching …

In this paper, we consider how the hours of work and retirement age ought to respond to a change in the uncertainty of … individuals' labor supply and retirement-decisions, the results show that a decrease in the standard deviation of life …-length leads to an increase in the optimal retirement age and a decrease in the hours of work per period spent working. This result …

advocated policy response is to increase retirement age. Ironically, however, the political support for this policy may actually …) from pension reforms referenda, we show in fact that individuals close to retirement tend to oppose policies that postpone … retirement, whereas young and elderly individuals are more favorable. The current process of population aging, and the associated …

We investigate the unemployment pathway to retirement in Germany and study the causal effects of two early retirement … reforms. Reform 1 (NRA) increased normal retirement age stepwise from 60 to 65. Simultaneously, it became possible to use … early retirement with benefit discounts. Reform 2 (ERA) increased the age of early retirement stepwise from 60 to 63. We …

Within a politico-economic model we first establish three hypotheses: (i) Retirees generally prefer a higher retirement … age than workers, whereby just retired individuals prefer the highest retirement age, (ii) in equilibrium the level of the … legal retirement age is increasing in longevity and (iii) decreasing in the public pension replacement rate. We then test …

We find that segments of society who have shorter life expectancy can expect a lower retirement income and lifetime … utility due to the longevity of other groups participating in the same pension scheme. Linking retirement age to average life …

examine a generous partial retirement reform in Germany that led to a massive increase in early retirement. Using county …

observed trend towards early retirement. In a world of laissez-faire or of first-best efficiency, there would be no such … variables are not observable, the optimal policy does imply a distortion of the retirement decision. Consequently, the … inducement of early retirement may be part of the optimal tax-transfer policy. We consider a model in which individuals differ in …

relevance of the labor demand component in retirement decisions, we consider a trade liberalization between Switzerland and the … early retirement behavior in three periods (pre-liberalization, announcement, and implementation) for three groups of …, and that the employment of young (30-years old) male workers increases. The distribution of wages by age is instead …

behind the recent incredible rise in old age employment in Germany. …