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Income Security Programs and Retirement in Sweden

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Author Info

  • Palme, Mårten

    ()
    (Dept. of Economic Statistics, Stockholm School of Economics)

  • Svensson, Ingemar

    ()
    (National Social Insurance Board)

Abstract

We examine the effects of economic incentives inherent in pension schemes and income security programs on retirement behavior in the Swedish labor market. We use social security wealth and three alternative measures of accrual (one-year benefit accrual, peak value and option value). The social security system, occupational pensions as well as insurance on the labor market, i.e., unemployment, sickness and disability insurance are considered. We estimate a model using panel data on about 30 000 men and women born between 1927 and 1940, observed between 1983 and 1997. The model is then used to simulate the effects of two alternative systems: one where eligibility for benefits in the prevailing system is delayed by three years and another where replacement levels are reduced.

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Bibliographic Info

Paper provided by Stockholm School of Economics in its series Working Paper Series in Economics and Finance with number 422.

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Length: 85 pages
Date of creation: 10 Jan 2001
Date of revision:
Handle: RePEc:hhs:hastef:0422

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Postal: The Economic Research Institute, Stockholm School of Economics, P.O. Box 6501, 113 83 Stockholm, Sweden
Phone: +46-(0)8-736 90 00
Fax: +46-(0)8-31 01 57
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Web page: http://www.hhs.se/
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Related research

Keywords: benefit accrual; peak value; option value; disability insurance;

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Citations

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Cited by:
  1. Thomas Aronsson & James R. Walker, 2010. "Labor Supply, Tax Base and Public Policy in Sweden," NBER Chapters, in: Reforming the Welfare State: Recovery and Beyond in Sweden, pages 127-158 National Bureau of Economic Research, Inc.
  2. Mårten Palme & Ingemar Svensson, 2010. "Incentives to Retire, the Employment of the Old, and the Employment of the Young in Sweden," NBER Chapters, in: Social Security Programs and Retirement around the World: The Relationship to Youth Employment, pages 295-318 National Bureau of Economic Research, Inc.
  3. Daniel Hallberg & Matias Eklöf, 2010. "Do buy-outs of older workers matter?: Estimating retirement behavior with special early retirement offers," International Journal of Manpower, Emerald Group Publishing, vol. 31(3), pages 337-359, July.
  4. Meghir, Costas & Palme, Mårten & Simeonova, Emilia, 2012. "Education, Health and Mortality: Evidence from a Social Experiment," IZA Discussion Papers 6462, Institute for the Study of Labor (IZA).
  5. Courtney C. Coile & Phillip B. Levine, 2007. "Labor market shocks and retirement: Do government programs matter?," NBER Chapters, in: Trans-Atlantic Public Economics Seminar (TAPES), Public Policy and Retirement, pages 1902-1919 National Bureau of Economic Research, Inc.
  6. Anders Karlstrom & Marten Palme & Ingemar Svensson, 2004. "A dynamic programming approach to model the retirement behaviour of blue-collar workers in Sweden," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 19(6), pages 795-807.
  7. Roman Rabb, 2009. "Financial Incentives in the Austrian PAYG-Pension System: Micro-Estimation," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper0902, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
  8. Larsen, Mona & Pedersen, Peder J., 2005. "Pathways to Early Retirement in Denmark, 1984-2000," IZA Discussion Papers 1575, Institute for the Study of Labor (IZA).
  9. Anders Karlström & Mårten Palme & Ingemar Svensson, 2011. "Assessing the welfare change from a pension reform," International Tax and Public Finance, Springer, vol. 18(6), pages 634-657, December.
  10. Eklöf, Matias & Hallberg, Daniel, 2004. "Private Alternatives and Early Retirement Programs," Working Paper Series 2004:5, Uppsala University, Department of Economics.
  11. Tibor Hanappi, 2012. "Retirement Behaviour in Austria: Incentive Effects on Old-Age Labor Supply," NRN working papers 2012-13, The Austrian Center for Labor Economics and the Analysis of the Welfare State, Johannes Kepler University Linz, Austria.
  12. Håkan Selin, 2012. "What Happens to the Husband's Retirement Decision when the Wife's Retirement Incentives Change?," CESifo Working Paper Series 3772, CESifo Group Munich.
  13. 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, vol. 92(10-11), pages 2071-2082, October.
  14. Asch, Beth & Haider, Steven J. & Zissimopoulos, Julie, 2005. "Financial incentives and retirement: evidence from federal civil service workers," Journal of Public Economics, Elsevier, vol. 89(2-3), pages 427-440, February.
  15. Hallberg, Daniel, 2003. "A Description of Routes out of the Labor Force for Workers in Sweden," Working Paper Series 2003:23, Uppsala University, Department of Economics.

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