We study the effects of demographic shocks and changes in the pension system on themacroeconomic performance of an advanced small open economy. An overlappinggenerationsmodel is constructed which includes a realistic description of the mortalityprocess. Individual agents choose their optimal...

This paper reviews changes in pension policies in EU countries between 1995 and2005 and describes how they might affect risk of poverty for future pensionerpopulations. The pension landscape in Europe has changed considerably in the pastdecade and the paper highlights commonalities as well as...

Using unique representative data containing self-reported functional and clinically measuredhearing ability for the Danish population aged 50-64, we estimate the effect of hearing losson receipt of disability benefits accounting for potential endogeneity of functional hearing...

Despite the increased frequency of job loss for older workers in Europe, little is known on itseffect on the work-retirement decision. Employing individual data from the EuropeanCommunity Household Panel for Germany, Italy, Spain, and the U.K., a multivariatecompeting-risks hazard model is...

The labor market is often asserted to be characterized by rigidities that make it difficult forolder workers to carry out their desired trajectory from work to retirement. An importantsource of rigidity is restrictions on hours of work imposed by firms that use team productionor face high fixed...

This paper studies the presence of hours constraints on the UK labor market and its effect onolder workers labor supply, both at the extensive and the intensive margin. Using panel datafor the period 1991-2004, the results from a competing risks model show that over-employedmale workers can...

In this paper we document the importance of framing effects in the retirement savingsdecisions of college professors. Pensions in many post-secondary institutions are funded bya combination of an employer contribution and a mandatory employee contribution.Employees can also make tax-deferred...

According to the Hutchens (1999) model, early retirement is not explained as a result ofmaximizing expected individual utility but rather as a demand-side phenomenon arising froma firm’s profit-maximizing behaviour...

In the past decade, Switzerland has experienced a large increase in the number ofindividuals that went into early retirement. This paper takes a look at the determinants of earlyretirement using data from the 2002 Swiss Labor Force Survey that contains an interestingmodule on this topic...

In this paper, the course-related training of elderly workers in Switzerland isanalysed with data from the Swiss Labour Force Survey. Elderly individuals invest substantialamounts in their human capital via course-related training...