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Rethinking retirement; from participation towards allocation

Author

Listed:
  • Rob Euwals

    (CPB Netherlands Bureau for Economic Policy Analysis)

  • Ruud de Mooij
  • Daniel van Vuuren

Abstract

This study argues that Dutch policy regarding the labour market for elderly is at a crossroads. Previous reforms in the Netherlands have encouraged labour supply and are expected to boost labour-market participation of individuals aged 55 to 64 to 60% in 2020. Further stimulus of supply is debatable due to perverse distributive implications. The increase in participation reveals inefficiencies in the demand side of the market. Indeed, the Dutch labour market for elderly is characterised by long unemployment duration, long job tenures, low mobility and little investment in human capital. The inefficiencies were previously hidden by massive early retirement, but will become more pressing as the workforce ages and participation rates increase. This imposes a new challenge for Dutch policy, a challenge that has become more urgent due to the current financial crisis that is expected to cause a substantial rise in unemployment. The study offers up-to-date insight in the consequences of policy reforms for the labour market.

Suggested Citation

  • Rob Euwals & Ruud de Mooij & Daniel van Vuuren, 2009. "Rethinking retirement; from participation towards allocation," CPB Special Publication 80, CPB Netherlands Bureau for Economic Policy Analysis.
    • Handle: RePEc:cpb:spcial:80
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    Citations

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    Cited by:

    1. Saint-Paul, Gilles, 2009. "Does the welfare state make older workers unemployable?," CEPR Discussion Papers 7490, C.E.P.R. Discussion Papers.
    2. Jan-Maarten van Sonsbeek & j.m.van.sonsbeek@vu.nl, 2011. "Micro simulations on the effects of ageing-related policy measures: The Social Affairs Department of the Netherlands Ageing and Pensions Model," International Journal of Microsimulation, International Microsimulation Association, vol. 4(1), pages 72-99.
    3. Rob Euwals & Anja Deelen, 2014. "Do Wages Continue Increasing at Older Ages? Evidence on the Wage Cushion in the Netherlands," CPB Discussion Paper 282.rdf, CPB Netherlands Bureau for Economic Policy Analysis.
    4. Rob Euwals & Anja Deelen, 2014. "Do Wages Continue Increasing at Older Ages? Evidence on the Wage Cushion in the Netherlands," CPB Discussion Paper 282, CPB Netherlands Bureau for Economic Policy Analysis.
    5. Anja Deelen & Rob Euwals, 2014. "Do Wages Continue Increasing at Older Ages? Evidence on the Wage Cushion in the Netherlands," De Economist, Springer, vol. 162(4), pages 433-460, December.
    6. Daniel Vuuren, 2014. "Flexible Retirement," Journal of Economic Surveys, Wiley Blackwell, vol. 28(3), pages 573-593, July.
    7. Niels Vermeer, 2016. "Age Anchors and the Expected Retirement Age: An Experimental Study," De Economist, Springer, vol. 164(3), pages 255-279, September.
    8. van Sonsbeek, Jan-Maarten & Alblas, Ridwan, 2012. "Disability benefit microsimulation models in the Netherlands," Economic Modelling, Elsevier, vol. 29(3), pages 700-715.
    9. Anja Deelen, 2011. "Wage-Tenure Profiles and Mobility," CPB Discussion Paper 198, CPB Netherlands Bureau for Economic Policy Analysis.
    10. Euwals, Rob & Trevisan, Elisabetta, 2014. "Early Retirement and Financial Incentives: Differences Between High and Low Wage Earners," IZA Discussion Papers 8466, Institute of Labor Economics (IZA).
    11. Rob Euwals & Elisabetta Trevisan, 2011. "Early Retirement and Financial Incentives: Differences Between High and Low Wage Earners," CPB Discussion Paper 195.rdf, CPB Netherlands Bureau for Economic Policy Analysis.
    12. Mathijs Gerritsen & Jens Høj, 2013. "The Dutch Labour Market: Preparing for the Future," OECD Economics Department Working Papers 1012, OECD Publishing.
    13. Blundell, R. & French, E. & Tetlow, G., 2016. "Retirement Incentives and Labor Supply," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 457-566, Elsevier.
    14. Hendrik P. Van Dalen & Kène Henkens & Joop Schippers, 2010. "Productivity of Older Workers: Perceptions of Employers and Employees," Population and Development Review, The Population Council, Inc., vol. 36(2), pages 309-330, June.
    15. Frank van Erp & Niels Vermeer & Daniel van Vuuren, 2013. "Non-financial determinants of retirement," CPB Discussion Paper 243.rdf, CPB Netherlands Bureau for Economic Policy Analysis.
    16. Deelen, Anja & Euwals, Rob, 2014. "Do Wages Continue Increasing at Older Ages? Evidence on the Wage Cushion in the Netherlands," IZA Discussion Papers 8467, Institute of Labor Economics (IZA).
    17. Coen Teulings & Frits Bos, 2010. "CPB and Dutch fiscal policy in view of the financial crisis and ageing," CPB Document 218.rdf, CPB Netherlands Bureau for Economic Policy Analysis.
    18. Rob Euwals & Elisabetta Trevisan, 2011. "Early Retirement and Financial Incentives: Differences Between High and Low Wage Earners," CPB Discussion Paper 195, CPB Netherlands Bureau for Economic Policy Analysis.
    19. Julián Díaz-Saavedra, 2017. "Tax and transfer programs, retirement behavior, and work hours over the life cycle," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 20(1), pages 64-85, January.

    More about this item

    JEL classification:

    • D6 - Microeconomics - - Welfare Economics
    • H2 - Public Economics - - Taxation, Subsidies, and Revenue
    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
    • J6 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers

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