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Private Alternatives and Early Retirement Programs

Author

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  • Eklöf, Matias

    () (Department of Economics)

  • Hallberg, Daniel

    () (Department of Economics)

Abstract

This paper describes early retirement option programs in collective agreements in Sweden during the 1990s. We highlight the differences between actual pension benefits and those stipulated in the standard agreements. We find that the individuals frequently face far better options than those given by standard agreements. The mix and the timing of pensions is usually done in a non-trivial way. Thus, if we just relied on the standard agreement text, one important implication of these findings is that the effects of economic incentives on retirement very well might be over-estimated.

Suggested Citation

  • Eklöf, Matias & Hallberg, Daniel, 2004. "Private Alternatives and Early Retirement Programs," Working Paper Series 2004:5, Uppsala University, Department of Economics.
  • Handle: RePEc:hhs:uunewp:2004_005
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    File URL: http://www.nek.uu.se/pdf/wp2004_5.pdf
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    References listed on IDEAS

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    1. Palme, Mårten & Svensson, Ingemar, 2002. "Pathways to Retirement and Retirement Incentives in Sweden," Arbetsrapport 2002:9, Institute for Futures Studies.
    2. Mårten Palme & Ingemar Svensson, 2004. "Income Security Programs and Retirement in Sweden," NBER Chapters,in: Social Security Programs and Retirement around the World: Micro-Estimation, pages 579-642 National Bureau of Economic Research, Inc.
    3. Marten Palme & lngemar Svensson, 1999. "Social Security, Occupational Pensions, and Retirement in Sweden," NBER Chapters,in: Social Security and Retirement around the World, pages 355-402 National Bureau of Economic Research, Inc.
    4. Courtney Coile & Jonathan Gruber, 2000. "Social Security and Retirement," NBER Working Papers 7830, National Bureau of Economic Research, Inc.
    5. Hallberg, Daniel, 2003. "A Description of Routes out of the Labor Force for Workers in Sweden," Working Paper Series 2003:23, Uppsala University, Department of Economics.
    6. Edin, P.-A. & Fredriksson, P., 2000. "LINDA - Longitudinal INdividual DAta for Sweden," Papers 2000:19, Uppsala - Working Paper Series.
    7. Stock, James H & Wise, David A, 1990. "Pensions, the Option Value of Work, and Retirement," Econometrica, Econometric Society, vol. 58(5), pages 1151-1180, September.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Daniel Hallberg, 2011. "Economic Fluctuations and Retirement of Older Employees," LABOUR, CEIS, vol. 25(3), pages 287-307, September.
    2. Anders Stenberg & Xavier Luna & Olle Westerlund, 2012. "Can adult education delay retirement from the labour market?," Journal of Population Economics, Springer;European Society for Population Economics, vol. 25(2), pages 677-696, January.
    3. Österholm, Pär, 2004. "Estimating the Relationship between Age Structure and GDP in the OECD Using Panel Cointegration Methods," Working Paper Series 2004:13, Uppsala University, Department of Economics.
    4. Daniel Hallberg & Matias Eklöf, 2010. "Do buy-outs of older workers matter?: Estimating retirement behavior with special early retirement offers," International Journal of Manpower, Emerald Group Publishing, vol. 31(3), pages 337-359, June.
    5. Sören Blomquist & Vidar Christiansen, 2008. "Taxation and Heterogeneous Preferences," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 64(2), pages 218-244, June.
    6. Karlström, Anders & Palme, Mårten & Svensson, Ingemar, 2008. "The employment effect of stricter rules for eligibility for DI: Evidence from a natural experiment in Sweden," Journal of Public Economics, Elsevier, vol. 92(10-11), pages 2071-2082, October.
    7. Anders Stenberg & Olle Westerlund, 2013. "Education and retirement: does University education at mid-age extend working life?," IZA Journal of European Labor Studies, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 2(1), pages 1-22, December.

    More about this item

    Keywords

    Retirement; early retirement programs; occupational pension;

    JEL classification:

    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure

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