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 …

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

This research analyses retirement behaviour in Austria based on a combined administrative dataset. Data from the … comprehensive microsimulation model of the Austrian pension system is developed and applied to calculate retirement benefit …

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 …

-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 …

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 …