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Early retirement policy in the presence of competing exit pathways: Evidence from policy reforms in Finland

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  • Tomi Kyyrä

Abstract

A majority of older Finns withdraw from employment via early retirement schemes years before the statutory retirement age. Over the past 15 years, a series of policy reforms have been introduced to reduce the widespread use of early exit pathways. By exploiting variation in eligibility rules between different cohorts, this study examines the effects of changes in the eligibility age thresholds for unemployment and part-time pension schemes and the effect of tightening medical criteria for disability pension eligibility. The findings imply that these reforms have jointly raised the average age at which older workers leave employment by 3.9 months. This increase is mainly due to a sharp drop in disability pension enrolment from age 58 upwards and to a lower incidence of unemployment at younger ages. The policy effects are found to be heterogeneous, so that different subgroups were affected by different reforms.

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Bibliographic Info

Paper provided by Government Institute for Economic Research Finland (VATT) in its series Working Papers with number 17.

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Date of creation: 12 Nov 2010
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Handle: RePEc:fer:wpaper:17

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Keywords: Early retirement; policy reform; disability; unemployment;

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  1. Tomi Kyyrä & Ralf Wilke, 2004. "Reduction in the Long-Term Unemployment of the Elderly: A Success Story from Finland," Discussion Papers, Government Institute for Economic Research Finland (VATT) 346, Government Institute for Economic Research Finland (VATT).
  2. Karlström, Anders & Palme, Mårten & Svensson, Ingemar, 2008. "The employment effect of stricter rules for eligibility for DI: Evidence from a natural experiment in Sweden," Journal of Public Economics, Elsevier, Elsevier, vol. 92(10-11), pages 2071-2082, October.
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Cited by:
  1. Lukas Inderbitzin & Stefan Staubli & Josef Zweimüller, 2013. "Extended unemployment benefits and early retirement: program complementarity and program substitution," ECON - Working Papers, Department of Economics - University of Zurich 119, Department of Economics - University of Zurich.

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