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This study provides the first empirical evidence of the causal impact of fertility outcomes on old-age labor supply, by … exogenous instruments of fertility. The results show strong impact of children on preventing old parents from strenuous works at …
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China?s pension system is in need of comprehensive reform in that it is fragmented in its coverage and significantly under-funded. Attempts to improve the coverage will likely exacerbate the financial strains. Thus it is urgent to improve the financial sustainability of the system and one policy...
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This paper analyzes behavioral responses to a reform in the German public pension system that allowed individuals with a long contribution history to retire without deductions before reaching the regular retirement age. Following the 2014 reform, individuals with 45 contribution years could...
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