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Early Retirement: The Impact of Changes in the Benefit Level

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Author Info

  • Jan H.M. Nelissen

    ()
    (Faculty of Economics, Erasmus University Rotterdam)

Abstract

In the Netherlands a transition takes place fromearly retirement schemes, which are characterizedby high implicit tax rates to schemes that have ahigher degree of actuarial fairness. in this paperwe look at the impact of this change at the laborparticipation rates of 55 to 65 years old persons.The analysis has been applied on repeated choiceson the basis of stated preferences. We estimate amixed (or random parameters) logit model. The mostimportant finding is the independent role that isplayed by the number of years for which has builtup pension claims. Its impact does not only run viathe discounted value of future pension streams. Theresults indicate that the change in the earlyretirement schemes will considerably increaselabor participation. A participation rate of 50%for the age group under consideration is within reach.

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Bibliographic Info

Paper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 02-031/3.

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Date of creation: 21 Mar 2002
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Handle: RePEc:dgr:uvatin:20020031

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Web page: http://www.tinbergen.nl

Related research

Keywords: preretirement; labour participation; mixed logit; stated preferences;

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References

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  1. Maarten Lindeboom, 1998. "Microeconometric Analysis of the Retirement Decision: The Netherlands," OECD Economics Department Working Papers 207, OECD Publishing.
  2. Courtney Coile & Jonathan Gruber, 2000. "Social Security and Retirement," NBER Working Papers 7830, National Bureau of Economic Research, Inc.
  3. Borsch-Supan, Axel, 2000. "Incentive effects of social security on labor force participation: evidence in Germany and across Europe," Journal of Public Economics, Elsevier, vol. 78(1-2), pages 25-49, October.
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Cited by:
  1. Jan-Maarten van Sonsbeek & j.m.van.sonsbeek@vu.nl, 2011. "Micro simulations on the effects of ageing-related policy measures: The Social Affairs Department of the Netherlands Ageing and Pensions Model," International Journal of Microsimulation, Interational Microsimulation Association, vol. 4(1), pages 72-99.

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