In a large online experiment, we relate the retirement timing decision to the disparity between the willingness … order to delay retirement is elicited. Our results reveal that the framing of the decision problem strongly influences … participants' reservation price for early retirement. The willingness-to-accept for early retirement is more than twice as high as …

In 2007 Germany has introduced a pension reform which increases the normal retirement age from currently age 65 to 67 … effective retirement age by about one year and redistribute towards future cohorts. However, it hardly reduces old-age poverty … since rich people are more flexible in adjusting retirement. Overall, the efficiency gains of the reform are very modest …

employed. Observed covariates including wages and retirement benefits help to explain these patterns, but unobserved …

retirement behavior as low-skilled Germans. The results are consistent with low-skilled workers in Germany being frozen in a …

We use nationally representative panel data from Australia to consider the impact of retirement on individual locus of … causality via cohort-specific eligibility age for the Australian Age Pension. We show that retirement leads to increased … effects of retirement on health and subjective well-being, respectively. The impact of retirement on control beliefs varies …

This paper documents and analyzes an important and puzzling stylized fact about retirement behavior: the large … three statutory retirement ages, although there is often no incentive or even a disincentive to retire at these thresholds … covering the universe of German retirees, and I exploit unique variation in financial retirement incentives as well as …

The public pension system in Germany allows early retirement albeit at the cost of pension deductions. Deductions are … calculated under the assumption that life expectancy is independent of the age of retirement and apply equally for men and women … show that remaining lifetime and thus the perpetuity period vary with the age of retirement. In a survival analysis using …

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 …