The Effect of Pension Generosity on Early Retirement: A Microdata Analysis for Europe from 1967 to 2004
AbstractUsing pseudo-panel microdata we show that pension generosity affects early retirement decisions. The changes in the average replacement rate and decreases in wealth accrual between 1967 and 2004 have caused an increase in early retirement probabilities from 16% to 63%.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 15940.
Date of creation: Jun 2009
Date of revision:
Early Retirement; Pension Systems; Pension Neutrality; Pension Generosity; SHARE.;
Other versions of this item:
- 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 fÃ¼r Volkswirtschaftslehre der UniversitÃ¤t Hohenheim 311/2009, Department of Economics, University of Hohenheim, Germany.
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
- J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
This paper has been announced in the following NEP Reports:
- NEP-AGE-2009-07-03 (Economics of Ageing)
- NEP-ALL-2009-07-03 (All new papers)
- NEP-EEC-2009-07-03 (European Economics)
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.:
- Romain Duval, 2003. "The Retirement Effects of Old-Age Pension and Early Retirement Schemes in OECD Countries," OECD Economics Department Working Papers 370, OECD Publishing.
- 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.
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- Moulton, Brent R, 1990. "An Illustration of a Pitfall in Estimating the Effects of Aggregate Variables on Micro Unit," The Review of Economics and Statistics, MIT Press, vol. 72(2), pages 334-38, May.
- Richard Johnson, 2001. "Effects of old-age insurance on female retirement : evidence from cross-country time-series data," Research Working Paper RWP 01-08, Federal Reserve Bank of Kansas City.
- Justina A.V. Fischer & Alfonso Sousa-Poza, 2010.
"The Impact of Institutions on Firms’ Rejuvenation Policies: Early Retirement with Severance Pay versus Simple Lay-Off. A Cross-European Analysis,"
034, Chair for Economic Policy, University of Hamburg.
- Fischer, Justina AV & Sousa-Poza, Alfonso, 2010. "The impact of institutions on firms’ rejuvenation policies: Early retirement with severance pay versus simple lay-off. A Cross-European Analysis," MPRA Paper 20343, University Library of Munich, Germany.
- Goulão, Catarina & Gouveia, Miguel, 2011. "Are we doing enough to discourage early retirement?," TSE Working Papers 11-220, Toulouse School of Economics (TSE).
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