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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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File URL: http://www1.vwa.unisg.ch/RePEc/usg/econwp/EWP-1316.pdf
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Paper provided by University of St. Gallen, School of Economics and Political Science in its series Economics Working Paper Series with number 1316.

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Length: 38 pages
Date of creation: Aug 2013
Date of revision:
Handle: RePEc:usg:econwp:2013:16
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  1. Alan L. Gustman & Thomas L. Steinmeier, 1984. "Partial retirement and the analysis of retirement behavior," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 37(3), pages 403-415, April.
  2. 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.
  3. Michael Lechner & Ruth Miquel & Conny Wunsch, 2011. "Long‐Run Effects Of Public Sector Sponsored Training In West Germany," Journal of the European Economic Association, European Economic Association, vol. 9(4), pages 742-784, 08.
  4. Imbens, Guido W. & Wooldridge, Jeffrey M., 2008. "Recent Developments in the Econometrics of Program Evaluation," IZA Discussion Papers 3640, Institute for the Study of Labor (IZA).
  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. Lechner, Michael & Wunsch, Conny, 2013. "Sensitivity of matching-based program evaluations to the availability of control variables," Labour Economics, Elsevier, vol. 21(C), pages 111-121.
  7. 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.
  8. Huber, Martin & Lechner, Michael & Wunsch, Conny, 2009. "Does Leaving Welfare Improve Health? Evidence for Germany," CEPR Discussion Papers 7421, C.E.P.R. Discussion Papers.
  9. Alberto Abadie & Guido W. Imbens, 2006. "On the Failure of the Bootstrap for Matching Estimators," NBER Technical Working Papers 0325, National Bureau of Economic Research, Inc.
  10. 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.
  11. Hutchens, Robert, 2010. "Worker characteristics, job characteristics, and opportunities for phased retirement," Labour Economics, Elsevier, vol. 17(6), pages 1010-1021, December.
  12. 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.
  13. JAMES G. MacKINNON, 2006. "Bootstrap Methods in Econometrics," The Economic Record, The Economic Society of Australia, vol. 82(s1), pages S2-S18, 09.
  14. Michael Hurd & Kathleen McGarry, 1993. "The Relationship Between Job Characteristics and Retirement," NBER Working Papers 4558, National Bureau of Economic Research, Inc.
  15. 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.
  16. 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.
  17. Ruhm, Christopher J, 1990. "Bridge Jobs and Partial Retirement," Journal of Labor Economics, University of Chicago Press, vol. 8(4), pages 482-501, October.
  18. Steven Haider & David Loughran, 2001. "Elderly Labor Supply: Work or Play?," Working Papers 01-09, RAND Corporation Publications Department.
  19. Machado, C. Sofia & Portela, Miguel, 2012. "Hours of Work and Retirement Behavior," IZA Discussion Papers 6270, Institute for the Study of Labor (IZA).
  20. 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.
  21. 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.
  22. William Even & David Macpherson, 2004. "Do Pensions Impede Phased Retirement?," Labor and Demography 0407001, EconWPA.
  23. 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.
  24. Robert M. Hutchens & Karen Grace-Martin, 2006. "Employer willingness to permit phased retirement: Why are some more willing than others?," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 59(4), pages 525-546, July.
  25. Huber, Martin & Lechner, Michael & Wunsch, Conny, 2013. "The performance of estimators based on the propensity score," Journal of Econometrics, Elsevier, vol. 175(1), pages 1-21.
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