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Microeconometric Analysis of the Retirement Decision: Germany

Listed author(s):
  • Pablo Antolín
  • Stefano Scarpetta

This paper analyses the determinants of the retirement decision in Germany using microdata from the German Socio-Economic Panel over the period 1985-1995. Non-parametric and semi-parametric techniques have been used to describe the exit to retirement. Non-parametric estimates suggest that the incentive structure generated by the different social security schemes play a powerful role in the individual retirement decision. The semi-parametric analysis is conducted using a piece-wise constant hazard model with multiple destinations (i.e. disability scheme and old-age pension scheme) and time-varying covariates. Socio-demographic factors have a strong impact on the retirement decision. Moreover, poor health contributes to early withdrawals from the labour market, especially in the case of disability retirement. Financial incentives offered in the pension system are also powerful in shaping the age profile of retirement. In particular, we used the pension wealth and an estimate of the ... Ce document analyse les facteurs qui déterminent la décision de partir à la retraite, en Allemagne, en utilisant les micro-données tirées de l’Enquête Socio-Economique durant la période 1985-95. Des techniques d’analyse non-paramétrique et semi-paramétrique ont été utilisées pour décrire le processus de départ à la retraite. Les estimations non-paramétriques suggèrent que les incitations produites par les différents éléments du système de sécurité sociale jouent un rôle très important dans la decision individuelle de départ à la retraite.L’analyse semi-paramëtrique est menée en utilisant un modèle à risqué constant “piece-wise” à destinations multiples (pensions d’invalidité et de vieillesse) et des variables explicatives variant dans le temps. Les facteurs socio-démographiques ont un impact important sur la décision de départ à la retraite. De plus une mauvaise santé incite à un départ anticipé à la retraite, surtout dans le cadre d’une pension d’invalidité. Les incitations ...

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Paper provided by OECD Publishing in its series OECD Economics Department Working Papers with number 204.

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Date of creation: 24 Jun 1998
Handle: RePEc:oec:ecoaaa:204-en
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