This paper develops a structural dynamic retirement model to investigate effects and corresponding underlying … mechanisms of a partial retirement program on labor supply, fiscal balances, and the pension income distribution. The structural … approach allows for disentangling the two counteracting mechanisms that drive the employment effects of partial retirement: 1 …

could be achieved if people retire from the work force later in life. Partial retirement, the option to work part-time while … drawing a pension before reaching the normal retirement age, could create the necessary conditions for reaching this goal. The … impact of partial retirement on employment will be simulated below. The results show that unrestricted access to partial …

effects of early retirement disincentives on retirement behavior, individual welfare, pensions and public budget. We employ … retirement model. We find that labor market participation and retirement behavior in general are strongly influenced by the level …

effects of early retirement disincentives on retirement behavior, individual welfare, pensions and public budget. We employ … retirement model. We find that retirement behavior is strongly influenced by the level of disincentives. Further, disincentives …

We evaluate the actual effectiveness of disincentives that have been introduced for early retirement in Germany … are able to estimate the parameters of a structural dynamic retirement model. This allows us to answers the question …, whether and to what degree disincentives are able to steer retirement behavior of German pensioners. These estimates are based …

Using Italian data, we estimate an option value model to quantify the effectof financial incentives on retirement …

-calculation window, combined with the discrete change in the probability of retirement at the minimum retirement age. We find that … retirement age, reaching a 3% increase on average. This is not the case for employees of large firms, where earnings …

supply and endogenous retirement. When the fixed cost of work is increasing in wage, the optimal retirement wedge provides … stronger incentives for delayed retirement with age. Retirement benefits that resemble the US Social Security system can … implement the optimum. Calibrated numerical simulations suggest that a mix of retirement benefits that increase with claiming …

A central question for pension design is how benefits should vary with the age of retirement beyond early eligibility … age. It is often argued that in order to be neutral with respect to individual retirement decisions benefits should be … actuarially fair, that is, the present value of additional contributions and benefits ("Delayed Retirement Credit" - DRC) due to …