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Financial Incentives and the Timing of Retirement: Evidence from Switzerland

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Author Info

  • Barbara Hanel
  • Regina Riphahn

Abstract

We use reforms in the Swiss public retirement system to identify the responsiveness of retirement timing to financial incentives. A permanent reduction of retirement benefits by 3.4 percent induces more than 70 percent of females to postpone their retirement. The responsiveness of male workers, who undergo a different treatment, is lower.

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File URL: http://www.bgpe.de/texte/DP/009_hanel_riphahn.pdf
File Function: First version, 2006
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Bibliographic Info

Paper provided by Bavarian Graduate Program in Economics (BGPE) in its series Working Papers with number 009.

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Length: 9 pages
Date of creation: Dec 2006
Date of revision:
Handle: RePEc:bav:wpaper:009_hanel_riphahn

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Web page: http://www.bgpe.de/
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Related research

Keywords: retirement insurance; incentives; social security; labor force exit; natural experiment; Switzerland;

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References

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  1. Chan, Sewin & Stevens, Ann Huff, 2004. "Do changes in pension incentives affect retirement? A longitudinal study of subjective retirement expectations," Journal of Public Economics, Elsevier, vol. 88(7-8), pages 1307-1333, July.
  2. Lumsdaine, Robin L. & Mitchell, Olivia S., 1999. "New developments in the economic analysis of retirement," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 49, pages 3261-3307 Elsevier.
  3. Monika BÜTLER, 2000. "The Political Feasibility of Increasing Retirement Age: Lessons from a Ballot on Female Retirement Age," Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP) 00.27, Université de Lausanne, Faculté des HEC, DEEP.
  4. Monika Bütler, 2002. "The Political Feasibility of Increasing the Retirement Age: Lessons from a Ballot on the Female Retirement Age," International Tax and Public Finance, Springer, vol. 9(4), pages 349-365, August.
  5. Courtney Coile & Jonathan Gruber, 2000. "Social Security and Retirement," NBER Working Papers 7830, National Bureau of Economic Research, Inc.
  6. Alan B. Krueger & Jorn-Steffen Pischke, 1991. "The Effect of Social Security on Labor Supply: A Cohort Analysis of the Notch Generation," NBER Working Papers 3699, National Bureau of Economic Research, Inc.
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Cited by:
  1. Frank van Erp & Niels Vermeer & Daniel van Vuuren, 2013. "Non-financial determinants of retirement," CPB Discussion Paper 243, CPB Netherlands Bureau for Economic Policy Analysis.
  2. Manuel Kallweit, 2009. "Rentenreform und Rentenzugangsentscheidung – Eine numerische Gleichgewichtsanalyse," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 229(4), pages 426-449, August.
  3. Lees, Kirdan, 2013. "Golden years? The impacts of New Zealand’s ageing on wages, interest rates, wealth and macroeconomy," NZIER Working Paper 2013/1, New Zealand Institute of Economic Research.

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