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

  • Huber, Martin
  • Lechner, Michael
  • Wunsch, Conny

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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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 9574.

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Date of creation: Jul 2013
Handle: RePEc:cpr:ceprdp:9574
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  1. Martin Huber & Michael Lechner & Conny Wunsch, 2011. "Does leaving welfare improve health? Evidence for Germany," Health Economics, John Wiley & Sons, Ltd., vol. 20(4), pages 484-504, April.
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  5. Conny Wunsch, 2009. "Optimal Use of Labor Market Policies: The Role of Job Search Assistance," CESifo Working Paper Series 2890, CESifo Group Munich.
  6. 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.
  7. Machado, C. Sofia & Portela, Miguel, 2012. "Hours of Work and Retirement Behavior," IZA Discussion Papers 6270, Institute for the Study of Labor (IZA).
  8. Lechner, Michael & Wunsch, Conny, 2011. "Sensitivity of Matching-Based Program Evaluations to the Availability of Control Variables," IZA Discussion Papers 5553, Institute for the Study of Labor (IZA).
  9. Alberto Abadie & Guido W. Imbens, 2006. "Large Sample Properties of Matching Estimators for Average Treatment Effects," Econometrica, Econometric Society, vol. 74(1), pages 235-267, 01.
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  13. Christina Robinson & Robert Clark, 2010. "Retiree Health Insurance and Disengagement from a Career Job," Journal of Labor Research, Springer, vol. 31(3), pages 247-262, September.
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  15. Katherine G. Abraham & Susan N. Houseman, 2005. "Work and Retirement Plans among Older Americans," Book chapters authored by Upjohn Institute researchers, in: Robert L. Clark & Olivia S. Mitchell (ed.), Reinventing the Retirement Paradigm, pages 70-91 W.E. Upjohn Institute for Employment Research.
  16. Rajeev H. Dehejia & Sadek Wahba, 1998. "Propensity Score Matching Methods for Non-experimental Causal Studies," NBER Working Papers 6829, National Bureau of Economic Research, Inc.
  17. Imbens, Guido & Abadie, Alberto, 2008. "On the Failure of the Bootstrap for Matching Estimators," Scholarly Articles 3043415, Harvard University Department of Economics.
  18. 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).
  19. Guido W. Imbens, 2004. "Nonparametric Estimation of Average Treatment Effects Under Exogeneity: A Review," The Review of Economics and Statistics, MIT Press, vol. 86(1), pages 4-29, February.
  20. Robert Drago & Mark Wooden & David Black, 2009. "Who Wants and Gets Flexibility? Changing Work Hours Preferences and Life Events," ILR Review, Cornell University, ILR School, vol. 62(3), pages 394-414, April.
  21. Hutchens, Robert, 2010. "Worker characteristics, job characteristics, and opportunities for phased retirement," Labour Economics, Elsevier, vol. 17(6), pages 1010-1021, December.
  22. Michael Hurd & Kathleen McGarry, 1993. "The Relationship Between Job Characteristics and Retirement," NBER Working Papers 4558, National Bureau of Economic Research, Inc.
  23. Ruhm, Christopher J, 1990. "Bridge Jobs and Partial Retirement," Journal of Labor Economics, University of Chicago Press, vol. 8(4), pages 482-501, October.
  24. 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, vol. 58, pages 272-279, November.
  25. Robert Hutchens & Karen Grace-Martin, 2006. "Employer Willingness to Permit Phased Retirement: Why are Some More Willing Than others?," ILR Review, Cornell University, ILR School, vol. 59(4), pages 525-546, July.
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