Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/250569 
Erscheinungsjahr: 
2021
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 14908
Verlag: 
Institute of Labor Economics (IZA), Bonn
Zusammenfassung: 
We investigate the unemployment pathway to retirement in Germany and study the causal effects of two early retirement reforms. Reform 1 (NRA) increased normal retirement age stepwise from 60 to 65. Simultaneously, it became possible to use early retirement with benefit discounts. Reform 2 (ERA) increased the age of early retirement stepwise from 60 to 63. We investigate behavioral responses to the reforms using administrative data and difference-in-differences strategies. We find strong and significant causal effects of both reforms. Individuals postponed retirement, stayed employed longer, postponed unemployment, and shifted to alternative pathways into retirement. The overall use of the retirement system declined by about 1.5 and 2 months per person after each of the two reforms. Individuals with low pension wealth and those who were affected immediately by the reform responded more strongly.
Schlagwörter: 
difference-in-differences
causal effects
labor force participation
program substitution
early retirement
effect heterogeneity
JEL: 
H55
J26
C21
Dokumentart: 
Working Paper

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