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Economic fluctuations and retirement of older employees

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Author Info
Hallberg, Daniel () (Institute for Future Studies)
Abstract

This paper studies the way in which labor market fluctuations affect the transition to early retirement among older employees in Sweden via the practice of negotiated pensions. The results indicate that downturns (upturns) in aggregated industry employment increases (decreases) the probability of early retirement. This result is driven by the public sector; in general the evidence is much weaker in the private sector. The results also suggest that the replacement levels immediately after early retirement are higher during declining as well as expanding industry employment. The results support an interpretation that 1) the employer and employee agreed on special early retirement pensions, and 2) that these were used in order to persuade older employees to quit voluntarily, but also that they worked to reward older employees.

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Publisher Info
Paper provided by IFAU - Institute for Labour Market Policy Evaluation in its series Working Paper Series with number 2008:2.

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Length: 42 pages
Date of creation: 25 Jan 2008
Date of revision:
Handle: RePEc:hhs:ifauwp:2008_002

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Related research
Keywords: Retirement fluctuating markets buy-outs demand for old workers

Find related papers by JEL classification:
J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped
J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Feldstein, Martin S, 1978. "The Effect of Unemployment Insurance on Temporary Layoff Unemployment," American Economic Review, American Economic Association, vol. 68(5), pages 834-46, December. [Downloadable!] (restricted)
  2. Edin, Per-Anders & Fredriksson, Peter, 2000. "LINDA - Longitudinal INdividual DAta for Sweden," Working Paper Series 2000:19, Uppsala University, Department of Economics. [Downloadable!]
    Other versions:
  3. Topel, Robert H, 1984. "Experience Rating of Unemployment Insurance and the Incidence of Unemployment," Journal of Law & Economics, University of Chicago Press, vol. 27(1), pages 61-90, April.
  4. Courtney C. Coile & Phillip B. Levine, 2006. "Bulls, bears, and retirement behavior," Industrial and Labor Relations Review, ILR Review, ILR School, Cornell University, vol. 59(3), pages 408-429, April.
  5. Eklöf, Matias & Hallberg, Daniel, 2004. "Private Alternatives and Early Retirement Programs," Working Paper Series 2004:5, Uppsala University, Department of Economics. [Downloadable!]
  6. Luc Behaghel & Bruno Crépon & Béatrice Sédillot, 2005. "The Perverse Effects of Partial Employment Protection Reform: Experience Rating and French Older Workers," IZA Discussion Papers 1679, Institute for the Study of Labor (IZA). [Downloadable!]
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  7. Hurd, Michael D, 1990. "Research on the Elderly: Economic Status, Retirement, and Consumption and Saving," Journal of Economic Literature, American Economic Association, vol. 28(2), pages 565-637, June. [Downloadable!] (restricted)
  8. Daron Acemoglu & Joshua D. Angrist, 2001. "Consequences of Employment Protection? The Case of the Americans with Disabilities Act," Journal of Political Economy, University of Chicago Press, vol. 109(5), pages 915-957, October. [Downloadable!] (restricted)
    Other versions:
  9. Charles Brown, 2002. "Early Retirement Windows," Working Papers wp028, University of Michigan, Michigan Retirement Research Center. [Downloadable!]
  10. Eklöf, Matias & Hallberg, Daniel, 2006. "Estimating retirement behavior with special early retirement offers," Working Paper Series 2006:13, Uppsala University, Department of Economics. [Downloadable!]
  11. Feldstein, Martin S, 1976. "Temporary Layoffs in the Theory of Unemployment," Journal of Political Economy, University of Chicago Press, vol. 84(5), pages 937-57, October. [Downloadable!] (restricted)
  12. Hutchens, Robert, 1999. "Social Security Benefits and Employer Behavior: Evaluating Social Security Early Retirement Benefits as a Form of Unemployment Insurance," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 40(3), pages 659-78, August.
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Alexius, Annika & Holmlund, Bertil, 2008. "Monetary policy and Swedish unemployment fluctuations," Working Paper Series 2008:5, IFAU - Institute for Labour Market Policy Evaluation. [Downloadable!]
    Other versions:
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