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...

We present quasi-experimental evidence on the employment effects of an unprecedented large increase in the early retirement age (ERA). Raising the ERA has the potential to extend contribution periods and to reduce the number of pension beneficiaries at the same time, if employment exits are...