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Effects of old-age insurance on female retirement : evidence from cross-country time-series data

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  • Richard Johnson
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    Abstract

    I examine the effect of Old-Age Insurance (OAI) on older women’s labour-force participation in fourteen countries since around 1930. Older women’s participation has risen in the US, but has fallen over time in some European countries. The discontinuity of incentives at the state pension age helps separate OAI’s effects from those of social mores and husbands’ retirements. Clear effects of OAI on female retirement emerge slowly in time series. I find that, were Germany to adopt the US Social Security system, the participation rate of German women aged 60-4 would increase by 7 percentage points.

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    File URL: http://www.kansascityfed.org/PUBLICAT/RESWKPAP/pdf/rwp01-08.pdf
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    Bibliographic Info

    Paper provided by Federal Reserve Bank of Kansas City in its series Research Working Paper with number RWP 01-08.

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    Date of creation: 2001
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    Handle: RePEc:fip:fedkrw:rwp01-08

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    Keywords: Insurance ; Retirement;

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    1. Claudia Goldin, 1983. "Life-Cycle Labor Force Participation of Married Women: Historical Evidence and Implications," NBER Working Papers 1251, National Bureau of Economic Research, Inc.
    2. Hahn, Jinyong & Todd, Petra & Van der Klaauw, Wilbert, 2001. "Identification and Estimation of Treatment Effects with a Regression-Discontinuity Design," Econometrica, Econometric Society, vol. 69(1), pages 201-09, January.
    3. Joseph F. Quinn, 1999. "Has the Early Retirement Trend Reversed?," Boston College Working Papers in Economics 424, Boston College Department of Economics.
    4. Sandra E. Black, 1997. "Do better schools matter? Parental valuation of elementary education," Research Paper 9729, Federal Reserve Bank of New York.
    5. Kahn, James A., 1988. "Social security, liquidity, and early retirement," Journal of Public Economics, Elsevier, vol. 35(1), pages 97-117, February.
    6. Feldstein, Martin & Samwick, Andrew A., 1992. "Social Security Rules and Marginal Tax Rates," National Tax Journal, National Tax Association, vol. 45(1), pages 1-22, March.
    7. Courtney Coile & Jonathan Gruber, 2000. "Social Security and Retirement," NBER Working Papers 7830, National Bureau of Economic Research, Inc.
    8. Didier Blanchet & Louis-Paul Pele, 1997. "Social Security and Retirement in France," NBER Working Papers 6214, National Bureau of Economic Research, Inc.
    9. John Bound & Michael Schoenbaum & Timothy Waidmann, 1996. "Race Differences in Labor Force Attachment and Disability Status," NBER Working Papers 5536, National Bureau of Economic Research, Inc.
    10. 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.
    11. Samwick, Andrew A., 1998. "New evidence on pensions, social security, and the timing of retirement," Journal of Public Economics, Elsevier, vol. 70(2), pages 207-236, November.
    12. Richard Johnson, 2000. "The effect of old-age insurance on male retirement : evidence from historical cross-country data," Research Working Paper RWP 00-09, Federal Reserve Bank of Kansas City.
    13. Sveinbjörn Blöndal & Stefano Scarpetta, 1999. "The Retirement Decision in OECD Countries," OECD Economics Department Working Papers 202, OECD Publishing.
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    Cited by:
    1. Justina A. V. Fischer & Alfonso Sousa-Poza, 2009. "The Effect of Pension Generosity on Early Retirement: A Microdata Analysis for Europe from 1967 to 2004," Diskussionspapiere aus dem Institut für Volkswirtschaftslehre der Universität Hohenheim 311/2009, Department of Economics, University of Hohenheim, Germany.

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