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The Effect of Firms' Partial Retirement Policies on the Labour Market Outcomes of their Employees

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  • Martin Huber
  • Michael Lechner
  • Conny Wunsch

Abstract

In this paper, we assess the impact of firms introducing part-time work schemes for gradual labour market exit of elderly workers on their employees’ labour market outcomes. The analysis is based on unique linked employer-employee data that combine high-quality survey and administrative data. Our results suggest that partial or gradual retirement options offered by firms are an important tool to alleviate the negative effects of low labour market attachment of elderly workers in ageing societies. When combined with financial incentives to hire unemployed or young jobseekers as replacement, they seem to be particularly beneficial, especially when labour market conditions are difficult. Under such circumstances, they can even have positive spill-over effects on younger workers. Firms should thus be encouraged to offer such schemes.

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File URL: http://www.cesifo-group.de/portal/page/portal/DocBase_Content/WP/WP-CESifo_Working_Papers/wp-cesifo-2013/wp-cesifo-2013-07/cesifo1_wp4343.pdf
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Bibliographic Info

Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 4343.

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Date of creation: 2013
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Handle: RePEc:ces:ceswps:_4343

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Keywords: part-time work; elderly employees; treatment effects; matching;

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References

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  1. Robert M. Hutchens & Karen Grace-Martin, 2006. "Employer willingness to permit phased retirement: Why are some more willing than others?," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 59(4), pages 525-546, July.
  2. Steven Haider & David Loughran, 2001. "Elderly Labor Supply: Work or Play?," Working Papers, RAND Corporation Publications Department 01-09, RAND Corporation Publications Department.
  3. Martin Huber & Michael Lechner & Conny Wunsch, 2009. "Does Leaving Welfare Improve Health? Evidence for Germany," University of St. Gallen Department of Economics working paper series 2009, Department of Economics, University of St. Gallen 2009-21, Department of Economics, University of St. Gallen.
  4. Imbens, Guido & Abadie, Alberto, 2008. "On the Failure of the Bootstrap for Matching Estimators," Scholarly Articles 3043415, Harvard University Department of Economics.
  5. Miquel, Ruth & Lechner, Michael & Wunsch, Conny, 2005. "Long-Run Effects of Public Sector Sponsored Training in West Germany," ZEW Discussion Papers, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research 05-02, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  6. Conny Wunsch, 2009. "Optimal Use of Labor Market Policies: The Role of Job Search Assistance," CESifo Working Paper Series 2890, CESifo Group Munich.
  7. Lechner, Michael & Wunsch, Conny, 2011. "Sensitivity of matching-based program evaluations to the availability of control variables," CEPR Discussion Papers, C.E.P.R. Discussion Papers 8294, C.E.P.R. Discussion Papers.
  8. Rajeev H. Dehejia & Sadek Wahba, 2002. "Propensity Score-Matching Methods For Nonexperimental Causal Studies," The Review of Economics and Statistics, MIT Press, vol. 84(1), pages 151-161, February.
  9. Alan L. Gustman & Thomas L. Steinmeier, 1984. "Partial retirement and the analysis of retirement behavior," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 37(3), pages 403-415, April.
  10. Machado, C. Sofia & Portela, Miguel, 2012. "Hours of Work and Retirement Behavior," IZA Discussion Papers 6270, Institute for the Study of Labor (IZA).
  11. Guido W. Imbens & Jeffrey M. Wooldridge, 2009. "Recent Developments in the Econometrics of Program Evaluation," Journal of Economic Literature, American Economic Association, vol. 47(1), pages 5-86, March.
  12. Marjorie Honig & Giora Hanoch, 1985. "Partial Retirement as a Separate Mode of Retirement Behavior," Journal of Human Resources, University of Wisconsin Press, vol. 20(1), pages 21-46.
  13. Hutchens, Robert, 2010. "Worker characteristics, job characteristics, and opportunities for phased retirement," Labour Economics, Elsevier, Elsevier, vol. 17(6), pages 1010-1021, December.
  14. Christina Robinson & Robert Clark, 2010. "Retiree Health Insurance and Disengagement from a Career Job," Journal of Labor Research, Springer, Springer, vol. 31(3), pages 247-262, September.
  15. Even, William E. & Macpherson, David A., 2004. "Do Pensions Impede Phased Retirement?," IZA Discussion Papers 1353, Institute for the Study of Labor (IZA).
  16. JAMES G. MacKINNON, 2006. "Bootstrap Methods in Econometrics," The Economic Record, The Economic Society of Australia, The Economic Society of Australia, vol. 82(s1), pages S2-S18, 09.
  17. Guido W. Imbens, 2004. "Nonparametric Estimation of Average Treatment Effects Under Exogeneity: A Review," The Review of Economics and Statistics, MIT Press, vol. 86(1), pages 4-29, February.
  18. Joffe, Marshall M. & Ten Have, Thomas R. & Feldman, Harold I. & Kimmel, Stephen E., 2004. "Model Selection, Confounder Control, and Marginal Structural Models: Review and New Applications," The American Statistician, American Statistical Association, American Statistical Association, vol. 58, pages 272-279, November.
  19. Huber, Martin & Lechner, Michael & Wunsch, Conny, 2013. "The performance of estimators based on the propensity score," Journal of Econometrics, Elsevier, Elsevier, vol. 175(1), pages 1-21.
  20. Michael Hurd & Kathleen McGarry, 1993. "The Relationship Between Job Characteristics and Retirement," NBER Working Papers 4558, National Bureau of Economic Research, Inc.
  21. Alberto Abadie & Guido W. Imbens, 2006. "Large Sample Properties of Matching Estimators for Average Treatment Effects," Econometrica, Econometric Society, Econometric Society, vol. 74(1), pages 235-267, 01.
  22. Katherine G. Abraham & Susan N. Houseman, 2004. "Work and Retirement Plans among Older Americans," Upjohn Working Papers and Journal Articles, W.E. Upjohn Institute for Employment Research 04-105, W.E. Upjohn Institute for Employment Research.
  23. Ruhm, Christopher J, 1990. "Bridge Jobs and Partial Retirement," Journal of Labor Economics, University of Chicago Press, University of Chicago Press, vol. 8(4), pages 482-501, October.
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