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Retirement incentives, individual heterogeneity and labor transitions of employed and unemployed workers

  • García-Pérez, J. Ignacio
  • Jiménez-Martín, Sergi
  • Sánchez-Martín, Alfonso R.

In this paper, we analyze the sensitivity of the labor market decisions of workers close to retirement with respect to the incentives created by public regulations. We improve upon the extensive prior literature on the effect of pension incentives on retirement by jointly modeling the transitions between employment, unemployment and retirement, paying special attention to the transition from unemployment to retirement (which is particularly important in Spain and other European countries, and whose relevance is increasing as a result of the recent economic crisis).

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Article provided by Elsevier in its journal Labour Economics.

Volume (Year): 20 (2013)
Issue (Month): C ()
Pages: 106-120

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Handle: RePEc:eee:labeco:v:20:y:2013:i:c:p:106-120
Contact details of provider: Web page: http://www.elsevier.com/locate/labeco

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  1. Sergi Jiménez-Martín & Alfonso R. Sánchez, 2003. "An evaluation of the life-cycle effects of minimum pensions on retirement behavior," Economics Working Papers 715, Department of Economics and Business, Universitat Pompeu Fabra, revised Jun 2006.
  2. Eric French, 2000. "The effects of health, wealth, and wages on labor supply and retirement behavior," Working Paper Series WP-00-2, Federal Reserve Bank of Chicago.
  3. Olympia Bover & Manuel Arellano & Samuel Bentolila, 1996. "Unemployment duration, benefit duration, and the business cycle," Estudios Económicos, Banco de España;Estudios Económicos Homepage, number 57, December.
  4. Aguirregabiria, Victor & Mira, Pedro, 2010. "Dynamic discrete choice structural models: A survey," Journal of Econometrics, Elsevier, vol. 156(1), pages 38-67, May.
  5. Peracchi, Franco & Jiménez-Martín, Sergi & Boldrin, Michele, 1997. "Social security and retirement in Spain," UC3M Working papers. Economics 6043, Universidad Carlos III de Madrid. Departamento de Economía.
  6. Coile Courtney C & Levine Phillip B, 2011. "The Market Crash and Mass Layoffs: How the Current Economic Crisis May Affect Retirement," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 11(1), pages 1-42, April.
  7. Jose Ignacio Garcia Perez, 1997. "Las tasas de salida del empleo y del desempleo en España (1978-1993)," Investigaciones Economicas, Fundación SEPI, vol. 21(1), pages 29-53, January.
  8. J. Ignacio García Pérez & Alfonso R Sánchez Martín, 2008. "Social Security and the search behaviour of workers approaching retirement," Working Papers 08.03, Universidad Pablo de Olavide, Department of Economics.
  9. John Rust & Christopher Phelan, 1994. "How Social Security and Medicare Affect Retirement Behavior in a World of Incomplete Markets," Public Economics 9406005, EconWPA, revised 06 Jul 1994.
  10. Michele Belloni & Rob Alessie, 2008. "Retirement Choices: New Evidence for Italy," CeRP Working Papers 73, Center for Research on Pensions and Welfare Policies, Turin (Italy).
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