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The effect of firms' partial retirement policies on the labour market outcomes of their employees

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  • Huber, Martin

    ()

  • Lechner, Michael

    ()

  • Wunsch, Conny

    ()

Abstract

In this paper, we assess the impact of firms introducing part-time work schemes for gradual labour market exit of elderly workers on their employees’ labour market outcomes. The analysis is based on unique linked employer-employee data that combine high-quality survey and administrative data. Our results suggest that partial or gradual retirement options offered by firms are an important tool to alleviate the negative effects of low labour market attachment of elderly workers in ageing societies. When combined with financial incentives to hire unemployed or young jobseekers as replacement, they seem to be particularly beneficial, especially when labour market conditions are difficult. Under such circumstances, they can even have positive spill-over effects on younger workers. Firms should thus be encouraged to offer such schemes.

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File URL: http://www1.vwa.unisg.ch/RePEc/usg/econwp/EWP-1316.pdf
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Bibliographic Info

Paper provided by University of St. Gallen, School of Economics and Political Science in its series Economics Working Paper Series with number 1316.

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Length: 38 pages
Date of creation: Aug 2013
Date of revision:
Handle: RePEc:usg:econwp:2013:16

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Keywords: part-time work; elderly employees; treatment effects; matching;

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  1. Ruhm, Christopher J, 1990. "Bridge Jobs and Partial Retirement," Journal of Labor Economics, University of Chicago Press, University of Chicago Press, vol. 8(4), pages 482-501, October.
  2. Alan L. Gustman & Thomas L. Steinmeier, 1981. "Partial Retirement and the Analysis of Retirement Behavior," NBER Working Papers 0763, National Bureau of Economic Research, Inc.
  3. Alberto Abadie & Guido W. Imbens, 2006. "On the Failure of the Bootstrap for Matching Estimators," NBER Technical Working Papers 0325, National Bureau of Economic Research, Inc.
  4. Rajeev H. Dehejia & Sadek Wahba, 2002. "Propensity score matching methods for non-experimental causal studies," Discussion Papers, Columbia University, Department of Economics 0102-14, Columbia University, Department of Economics.
  5. C. Sofia Machado & Miguel Portela, 2011. "Hours of work and retirement behavior," NIPE Working Papers, NIPE - Universidade do Minho 02/2011, NIPE - Universidade do Minho.
  6. Conny Wunsch, 2013. "Optimal Use of Labor Market Policies: The Role of Job Search Assistance," The Review of Economics and Statistics, MIT Press, vol. 95(3), pages 1030-1045, July.
  7. Katherine G. Abraham & Susan N. Houseman, 2005. "Work and Retirement Plans among Older Americans," Book chapters authored by Upjohn Institute researchers, W.E. Upjohn Institute for Employment Research, in: Robert L. Clark & Olivia S. Mitchell (ed.), Reinventing the Retirement Paradigm, pages 70-91 W.E. Upjohn Institute for Employment Research.
  8. Lechner, Michael & Wunsch, Conny, 2011. "Sensitivity of matching-based program evaluations to the availability of control variables," Economics Working Paper Series 1105, University of St. Gallen, School of Economics and Political Science.
  9. Guido Imbens & Jeffrey Wooldridge, 2008. "Recent developments in the econometrics of program evaluation," CeMMAP working papers, Centre for Microdata Methods and Practice, Institute for Fiscal Studies CWP24/08, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
  10. Lechner, Michael & Miquel, Ruth & Wunsch, Conny, 2004. "Long-Run Effects of Public Sector Sponsored Training in West Germany," IZA Discussion Papers 1443, Institute for the Study of Labor (IZA).
  11. William Even & David Macpherson, 2004. "Do Pensions Impede Phased Retirement?," Labor and Demography, EconWPA 0407001, EconWPA.
  12. Huber, Martin & Lechner, Michael & Wunsch, Conny, 2009. "Does Leaving Welfare Improve Health? Evidence for Germany," IZA Discussion Papers 4370, Institute for the Study of Labor (IZA).
  13. Alberto Abadie & Guido W. Imbens, 2006. "Large Sample Properties of Matching Estimators for Average Treatment Effects," Econometrica, Econometric Society, Econometric Society, vol. 74(1), pages 235-267, 01.
  14. Huber, Martin & Lechner, Michael & Wunsch, Conny, 2013. "The performance of estimators based on the propensity score," Journal of Econometrics, Elsevier, Elsevier, vol. 175(1), pages 1-21.
  15. Michael Hurd & Kathleen McGarry, 1993. "The Relationship Between Job Characteristics and Retirement," NBER Working Papers 4558, National Bureau of Economic Research, Inc.
  16. Guido W. Imbens, 2003. "Nonparametric Estimation of Average Treatment Effects under Exogeneity: A Review," NBER Technical Working Papers 0294, National Bureau of Economic Research, Inc.
  17. Joffe, Marshall M. & Ten Have, Thomas R. & Feldman, Harold I. & Kimmel, Stephen E., 2004. "Model Selection, Confounder Control, and Marginal Structural Models: Review and New Applications," The American Statistician, American Statistical Association, American Statistical Association, vol. 58, pages 272-279, November.
  18. James G. MacKinnon, 2006. "Bootstrap Methods in Econometrics," Working Papers, Queen's University, Department of Economics 1028, Queen's University, Department of Economics.
  19. Hutchens, Robert, 2010. "Worker characteristics, job characteristics, and opportunities for phased retirement," Labour Economics, Elsevier, Elsevier, vol. 17(6), pages 1010-1021, December.
  20. Christina Robinson & Robert Clark, 2010. "Retiree Health Insurance and Disengagement from a Career Job," Journal of Labor Research, Springer, Springer, vol. 31(3), pages 247-262, September.
  21. Marjorie Honig & Giora Hanoch, 1985. "Partial Retirement as a Separate Mode of Retirement Behavior," Journal of Human Resources, University of Wisconsin Press, vol. 20(1), pages 21-46.
  22. Steven Haider & David Loughran, 2001. "Elderly Labor Supply: Work or Play?," Working Papers, RAND Corporation Publications Department 01-09, RAND Corporation Publications Department.
  23. Robert M. Hutchens & Karen Grace-Martin, 2006. "Employer willingness to permit phased retirement: Why are some more willing than others?," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 59(4), pages 525-546, July.
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