Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/237990 
Erscheinungsjahr: 
2020
Schriftenreihe/Nr.: 
BGPE Discussion Paper No. 199
Verlag: 
Friedrich-Alexander-Universität Erlangen-Nürnberg, Erlangen und Nürnberg
Zusammenfassung: 
We study causal effects of two early retirement reforms. Reform 1 (NRA) increased normal retirement age stepwise from 60 to 63. 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: 
early retirement
program substitution
labor force participation
causal effects
difference-in-differences
effect heterogeneity
JEL: 
H55
J26
C21
Dokumentart: 
Working Paper

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