Navigating through the Finnish Pension System
The paper constructs a competing risks duration model, explaining the probability of retirement due to old-age, ill health or long-term unemployment. It also attempts to measure the degree of substitution between the various retirement channels, among other things, by using data on pension application rejections. The effect of the economic incentives was tested in a number of alternative specifications. In addition to simple replacement ratio, life-cycle incentives were calculated for each exit channel separately. Both the grace period compensations (unemployment benefits and sick allowances) and the actual pension benefits were considered. The paper concludes that the baseline hazards as well as the effects of a number of explanatory variables differ signficantly between the distinct retirement channels. It also finds some evidence on the channel substitutability between different retirement channels.
|Date of creation:||06 Jul 2000|
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- McCall, Brian P, 1996.
"Unemployment Insurance Rules, Joblessness, and Part-Time Work,"
Econometric Society, vol. 64(3), pages 647-682, May.
- McCall, B.P., 1993. "Unemployment Insurance Rules, Joblessness, and Part-Time Work," Papers 93-07, Minnesota - Industrial Relations Center.
- Kiefer, Nicholas M, 1988. "Economic Duration Data and Hazard Functions," Journal of Economic Literature, American Economic Association, vol. 26(2), pages 646-679, June.
- Svenn-Age Dahl & Oivind Anti Nilsen & Kjell Vaage, 2000. "Work or retirement? Exit routes for Norwegian elderly," Applied Economics, Taylor & Francis Journals, vol. 32(14), pages 1865-1876.
- Dahl, Svenn-Åge & Nilsen, Øivind Anti & Vaage, Kjell, 1999. "Work or Retirement? Exit Routes for Norwegian Elderly," IZA Discussion Papers 32, Institute for the Study of Labor (IZA).
- Dahl, S.-A., Nilsen, O.A. & Vaage, K., 2000. "Work or Retirement? Exit Routes for Norwegian Elderly," Norway; Department of Economics, University of Bergen 213, Department of Economics, University of Bergen.
- Florens, J.-P. & Fougère, D. & Mouchart, M., "undated". "Duration models," CORE Discussion Papers RP 1213, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- FLORENS, Jean-Pierre & FOUGERE, Denis & MOUCHART, Michel, 1995. "Duration Models," CORE Discussion Papers 1995016, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Tomi Kyyrä, 1999. "Post-Unemployment Wages and Economic Incentives to Exit from Unemployment," Research Reports 56, Government Institute for Economic Research Finland (VATT).
- Jensen, P. & Nielsen, M.S. & Rosholm, M., 1999. "The Effects of Benefits, Incentives, and Sanctions on Youth Employment," Papers 99-05, Centre for Labour Market and Social Research, Danmark-.
- Roope Uusitalo, 2001. "Homo entreprenaurus?," Applied Economics, Taylor & Francis Journals, vol. 33(13), pages 1631-1638.
- Roope Uusitalo, 1999. "Homo Entreprenaurus?," Discussion Papers 205, Government Institute for Economic Research Finland (VATT).
- Regina Riphahn, 1997. "Disability retirement and unemployment - substitute pathways for labour force exit? An empirical test for the case of Germany," Applied Economics, Taylor & Francis Journals, vol. 29(5), pages 551-561.
- Heckman, James J. & Singer, Burton, 1984. "Econometric duration analysis," Journal of Econometrics, Elsevier, vol. 24(1-2), pages 63-132.
- Å tÄ›pÃ¡n Jurajda & Frederick J. Tannery, 2003. "Unemployment Durations and Extended Unemployment Benefits in Local Labor Markets," ILR Review, Cornell University, ILR School, vol. 56(2), pages 324-348, January.
- Stepan Jurajda & Frederick J. Tannery, 2001. "Unemployment Durations and Extended Unemployment Benefits in Local Labor Markets," Labor and Demography 0012006, EconWPA.
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