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Retirement: Does Individual Unemployment Matter? Evidence from Danish Panel Data 1980–2009

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Author Info

  • Filges, Trine

    ()
    (SFI - Danish National Centre for Social Research)

  • Larsen, Mona

    ()
    (SFI - Danish National Centre for Social Research)

  • Pedersen, Peder J.

    ()
    (Aarhus University)

Abstract

The paper studies the impact from variations in unemployment on retirement among older workers. We integrate unemployment variations with early retirement programs and other pathways out of the labor force. The paper describes retirement programs, policy changes, labor force participation among older workers and presents a new estimate of the trend in the average age of retirement. Individual panel data for the last 25 years are used in estimations of the impact from individual unemployment on the retirement decision. Unemployment is found highly significant and quantitatively important for the retirement decision. We conclude that there is a clear risk of a cyclical downturn resulting in a more long run reduction in productive capacity with negative consequences for the budget of the public sector.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 6538.

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Length: 26 pages
Date of creation: May 2012
Date of revision:
Handle: RePEc:iza:izadps:dp6538

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Related research

Keywords: unemployment; labor force participation; retirement;

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  1. Sewin Chan & Ann Huff Stevens, 1999. "Employment and Retirement Following a Late Career Job Loss," Departmental Working Papers 199903, Rutgers University, Department of Economics.
  2. Tomi Kyyrä & Ralf Wilke, 2004. "Reduction in the Long-Term Unemployment of the Elderly: A Success Story from Finland," Discussion Papers 346, Government Institute for Economic Research Finland (VATT).
  3. Clemens Hetschko & Andreas Knabe & Ronnie Schöb, 2011. "Changing Identity: Retiring from Unemployment," FEMM Working Papers 110017, Otto-von-Guericke University Magdeburg, Faculty of Economics and Management.
  4. Courtney C. Coile & Phillip B. Levine, 2011. "Recessions, Retirement, and Social Security," American Economic Review, American Economic Association, vol. 101(3), pages 23-28, May.
  5. Jean-Olivier Hairault & Francois Langot & Thepthida Sopraseuth, 2010. "Distance to Retirement and Older Workers' Employment: The Case for Delaying the Retirement Age," Journal of the European Economic Association, MIT Press, vol. 8(5), pages 1034-1076, 09.
  6. Romain Duval & Mehmet Eris & Davide Furceri, 2011. "The Effects of Downturns on Labour Force Participation: Evidence and Causes," OECD Economics Department Working Papers 875, OECD Publishing.
  7. Cremer, Helmuth & Lozachmeur, Jean-Marie & Pestieau, Pierre, 2009. "Use and misuse of unemployment benefits for early retirement," European Journal of Political Economy, Elsevier, vol. 25(2), pages 174-185, June.
  8. Chan, Sewin & Stevens, Ann Huff, 2001. "Job Loss and Employment Patterns of Older Workers," Journal of Labor Economics, University of Chicago Press, vol. 19(2), pages 484-521, April.
  9. Tatsiramos, Konstantinos, 2010. "Job displacement and the transitions to re-employment and early retirement for non-employed older workers," European Economic Review, Elsevier, vol. 54(4), pages 517-535, May.
  10. David H. Autor & Mark G. Duggan, 2003. "The Rise In The Disability Rolls And The Decline In Unemployment," The Quarterly Journal of Economics, MIT Press, vol. 118(1), pages 157-205, February.
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