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Rentenreform und Rentenzugangsentscheidung – Eine numerische Gleichgewichtsanalyse

  • Manuel Kallweit

    ()

    (Universität Wuerzburg)

The paper presents a numerical general equilibrium model in which agents decide about their retirement age. In this context policy reforms like an increase of the normal retirement age, higher discounts for early retirement or the introduction of flat or minimum pensions are simulated. While future generations benefit from the first two reforms, they suffer from the latter. There are three central findings : First, higher discounts have a stronger effect on the retirement decision than an increase in normal retirement age. Second, the timing of retirement is significantly affected by an introduction of flat pensions. Third, models with an explicit retirement decision can lead to different policy implications compared to models in which retirement age is exogenous.

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Article provided by Justus-Liebig University Giessen, Department of Statistics and Economics in its journal Journal of Economics and Statistics.

Volume (Year): 229 (2009)
Issue (Month): 4 (August)
Pages: 426-449

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Handle: RePEc:jns:jbstat:v:229:y:2009:i:4:p:426-449
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  1. Euwals, Rob & van Vuuren, Daniel & Wolthoff, Ronald, 2006. "Early Retirement Behaviour in the Netherlands - Evidence from a Policy Reform," CEPR Discussion Papers 5596, C.E.P.R. Discussion Papers.
  2. Eric French, 2004. "The Effects of Health, Wealth and Wages on Labor Supply and Retirement Behavior," 2004 Meeting Papers 96, Society for Economic Dynamics.
  3. Fehr, Hans, 1999. "Pension reform during the demographic transition," W.E.P. - Würzburg Economic Papers 8, University of Würzburg, Chair for Monetary Policy and International Economics.
  4. Christian Jaag & Christian Keuschnigg & Mirela Keuschnigg, 2007. "Pension Reform, Retirement and Life-Cycle Unemployment," University of St. Gallen Department of Economics working paper series 2007 2007-43, Department of Economics, University of St. Gallen.
  5. Beetsma, Roel & Bettendorf, Leon & Broer, Peter, 2003. "The budgeting and economic consequences of ageing in the Netherlands," Economic Modelling, Elsevier, vol. 20(5), pages 987-1013, September.
  6. Fehr, Hans, 1999. "Welfare Effects of Dynamic Tax Reforms," Beiträge zur Finanzwissenschaft, Mohr Siebeck, Tübingen, edition 1, volume 5, number urn:isbn:9783161470165, June.
  7. Barbara Berkel & Axel Börsch-Supan, 2004. "Pension Reform in Germany: The Impact on Retirement Decisions," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 60(3), pages 393-, September.
  8. Mathias Kifmann, 2004. "Age-dependent taxation and the optimal retirement benefit formula," Working Papers of the Research Group Heterogenous Labor 04-20, Research Group Heterogeneous Labor, University of Konstanz/ZEW Mannheim.
  9. Alfonso R Sánchez-Martín, 2008. "Endogenous Retirement and Public Pension System Reform in Spain," Working Papers 08.06, Universidad Pablo de Olavide, Department of Economics.
  10. Oliver Ehrentraut & Matthias Heidler, 2008. "Zur nachhaltigen Finanzierung der GRV: Der Beitrag der Altersgrenzenanhebung im Rentenreformprozess," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 9(4), pages 424-445, November.
  11. repec:ner:tilbur:urn:nbn:nl:ui:12-383717 is not listed on IDEAS
  12. Tabea Bucher-Koenen & Christina Benita Wilke, 2008. "Zur Anhebung der Altersgrenzen: Eine Simulation der langfristigen Auswirkungen auf die gesetzliche Rentenversicherung bei unterschiedlichem Renteneintrittsverhalten," MEA discussion paper series 08159, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
  13. Hanel, Barbara & Riphahn, Regina T., 2006. "Financial Incentives and the Timing of Retirement: Evidence from Switzerland," IZA Discussion Papers 2492, Institute for the Study of Labor (IZA).
  14. repec:dgr:uvatin:20060021 is not listed on IDEAS
  15. Gaobo Pang & University of Maryland, 2006. "Tax-Deferred Savings and Early Retirement," Computing in Economics and Finance 2006 31, Society for Computational Economics.
  16. Martin Werding, 2007. "Versicherungsmathematisch korrekte Rentenabschläge für die gesetzliche Rentenversicherung," Ifo Schnelldienst, Ifo Institute for Economic Research at the University of Munich, vol. 60(16), pages 19-32, 08.
  17. Axel Börsch-Supan & Barbara Berkel, 2004. "Pension Reform in Germany: The Impact on Retirement Decisions," MEA discussion paper series 04062, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
  18. Hirte, Georg, 2001. "Pension Policies for an Aging Society," Beiträge zur Finanzwissenschaft, Mohr Siebeck, Tübingen, edition 1, volume 14, number urn:isbn:9783161475399, June.
  19. Fehr, H. & Sterkeby, W.I. & Thogersen, O., 2000. "Social Security Reforms and Early Retirement," Papers 16/00, Norwegian School of Economics and Business Administration-.
  20. Christian Habermann & Fabian Kindermann, 2007. "Multidimensional Spline Interpolation: Theory and Applications," Computational Economics, Society for Computational Economics, vol. 30(2), pages 153-169, September.
  21. Bucher-Koenen, Tabea & Wilke, Christina, 2008. "Zur Anhebung der Altersgrenzen: Eine Simulation der langfristigen Auswirkungen auf die gesetzliche Rentenversicherung bei unterschiedlichem Renteneintrittsverhalten," Sonderforschungsbereich 504 Publications 08-44, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
  22. Barbara Hanel & Regina T. Riphahn, 2009. "New Evidence on Financial Incentives and the Timing of Retirement," Working Papers 076, Bavarian Graduate Program in Economics (BGPE).
  23. Breyer, Friedrich & Kifmann, Mathias & Stolte, Klaus, 1997. "Rentenzugangsalter und Beitragssatz zur Rentenversicherung," Discussion Papers, Series II 332, University of Konstanz, Collaborative Research Centre (SFB) 178 "Internationalization of the Economy".
  24. Javier Diaz-Gimenez & Julian Diaz-Saavedra, 2009. "Delaying Retirement in Spain," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 12(1), pages 147-167, January.
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