The Side Effect of Pension Reforms on Training: Evidence from Italy
Due to pension reforms, minimum retirement age increased substantially in Italy between the second part of the 1990s and the early 2000s. We compare the training participation of pre- and post-reform cohorts of private sector employees and estimate that adding one year to minimum retirement age increases training incidence by 6.9 to 10.7 percent, depending on the empirical specification. We find that policies that increase the residual working horizon are effective in increasing training participation by senior workers, and that traditional training policies that aim at reducing training costs by providing subsidies are ineffective.
|Date of creation:||Nov 2013|
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|Publication status:||forthcoming in: The Journal of Economics of Aging|
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IZA Discussion Papers
4462, Institute for the Study of Labor (IZA).
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- Montizaan Raymond & Cörvers Frank & Grip Andries de, 2009. "The effects of pension rights and retirement age on training participation: Evidence from a natural experiment," ROA Research Memorandum 012, Maastricht University, Research Centre for Education and the Labour Market (ROA).
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