Financial incentives in the Austrian PAYG-pension system: micro-estimation
The scope of this paper is to investigate the impact of financial incentives on the retirement decision of private sector workers in Austria.How do financial incentives embedded in the Austrian pension system impact individual retirement behavior? We are using a unique dataset of individual social insurance spells. Micro-estimating the impact of financial incentives on the probability of retirement shows that the behavioral response to financial incentives in Austria is relatively large in international comparison. Also, there are striking behavioral differences between men and women. Using the estimates to simulate the response to reform shows that actual retirement ages could be most successfully brought up by a 6 percentage point deduction in pension benefits per year of early retirement.
(This abstract was borrowed from another version of this item.)
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
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.:
- Axel Börsch-Supan & Reinhold Schnabel & Simone Kohnz & Giovanni Mastrobuoni, 2004.
"Micro-Modeling of Retirement Decisions in Germany,"
in: Social Security Programs and Retirement around the World: Micro-Estimation, pages 285-344
National Bureau of Economic Research, Inc.
- Helmut Hofer & Reinhard Koman, 2006. "Social security and retirement incentives in Austria," Empirica, Springer, vol. 33(5), pages 285-313, December.
- Palme, Mårten & Svensson, Ingemar, 2001.
"Income Security Programs and Retirement in Sweden,"
SSE/EFI Working Paper Series in Economics and Finance
422, Stockholm School of Economics.
- Courtney Coile & Jonathan Gruber, 2000. "Social Security and Retirement," NBER Working Papers 7830, National Bureau of Economic Research, Inc.
- Falkinger, Josef & Winter-Ebmer, Rudolf & Zweimüller, Josef, 1994.
"Retirement of Spouses and Social Security Reform,"
CEPR Discussion Papers
855, C.E.P.R. Discussion Papers.
- Markus Knell & Walpurga Köhler-Töglhofer & Doris Prammer, 2006. "The Austrian Pension System – How Recent Reforms Have Changed Fiscal Sustainability and Pension Benefits," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 2, pages 69–93.
- Feldstein, Martin S, 1974. "Social Security, Induced Retirement, and Aggregate Capital Accumulation," Journal of Political Economy, University of Chicago Press, vol. 82(5), pages 905-26, Sept./Oct.
- Ronan Mahieu & Didier Blanchet, 2004. "Estimating Models of Retirement Behavior on French Data," NBER Chapters, in: Social Security Programs and Retirement around the World: Micro-Estimation, pages 235-284 National Bureau of Economic Research, Inc.
- Andrew A. Samwick, 1998.
"New Evidence on Pensions, Social Security, and the Timing of Retirement,"
NBER Working Papers
6534, National Bureau of Economic Research, Inc.
- Samwick, Andrew A., 1998. "New evidence on pensions, social security, and the timing of retirement," Journal of Public Economics, Elsevier, vol. 70(2), pages 207-236, November.
- Gary S. Fields & Olivia S. Mitchell, 1984. "Retirement, Pensions, and Social Security," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262060914, June.
- Jonathan Gruber & David A. Wise, 2004.
"Social Security Programs and Retirement around the World: Micro-Estimation,"
National Bureau of Economic Research, Inc, number grub04-1, March.
- Jonathan Gruber & David A. Wise, 2002. "Social Security Programs and Retirement Around the World: Micro Estimation," NBER Working Papers 9407, National Bureau of Economic Research, Inc.
- Milton Friedman, 1957. "A Theory of the Consumption Function," NBER Books, National Bureau of Economic Research, Inc, number frie57-1, March.
- Agar Brugiavini & Franco Peracchi, 2004. "Micro-Modeling of Retirement Behavior in Italy," NBER Chapters, in: Social Security Programs and Retirement around the World: Micro-Estimation, pages 345-398 National Bureau of Economic Research, Inc.
- Courtney Coile & Jonathan Gruber, 2004. "The Effect of Social Security on Retirement in the United States," NBER Chapters, in: Social Security Programs and Retirement around the World: Micro-Estimation, pages 691-730 National Bureau of Economic Research, Inc.
When requesting a correction, please mention this item's handle: RePEc:kap:empiri:v:38:y:2011:i:2:p:231-257. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)or (Christopher F. Baum)
If references are entirely missing, you can add them using this form.