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exposure. This implies a labour supply elasticity with respect to pension wealth of -0.05, and with respect to current returns …
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We study the effect of an increase in the UK state pension age from 65 to 66, a high level internationally, on labour market activity. Despite there being limited financial incentives to retire at the state pension age, we find large effects: the employment rate of 65-year-olds increased by 7.4...
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This study provides novel evidence about the pension wealth elasticity of employment. For the identification we exploit …
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