). At a relatively low real return on the pension capital, the fiscal subsidy in terms of net present value comes to 7 …

's retirement decision. Using administrative pension insurance records from Germany, I examine the impact of a pension subsidy …-of-the-envelope calculation suggests the ratio of behavioral cost to mechanical cost of this subsidy program is 0.3, which is smaller than other … subsidy program can account for one third of the increase in women's age of claiming pension over the past decade …

subsidy program for low-pay workers. The subsidies have a kinked relationship with the recipients' past contributions …-of-the-envelope calculation suggests that the ratio of behavioral to mechanical costs for this subsidy program is 0.3, which is smaller than that …

's retirement decision. Using administrative pension insurance records from Germany, I examine the impact of a pension subsidy …-of-the-envelope calculation suggests the ratio of behavioral cost to mechanical cost of this subsidy program is 0.3, which is smaller than other … subsidy program can account for one third of the increase in women's age of claiming pension over the past decade. …

consumers from the shocks making a funded pension scheme equivalent to a research and production subsidy for the economy …