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  • 1
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    Bonn: Institute of Labor Economics (IZA)
    Publication Date: 2018-07-17
    Description: We present quasi-experimental evidence on the employment effects of an unprecedented large increase in the early retirement age (ERA). Raising the ERA has the potential to extend contribution periods and to reduce the number of pension beneficiaries at the same time, if employment exits are successfully delayed. However, workers may not be able to work longer or may choose other social support programs as exit routes from employment. We study the effects of the ERA increase on employment and potential program substitution in a regression-discontinuity framework. Germany abolished an important early retirement program for women born after 1951, effectively raising the ERA for women by three years. We analyze the effects of this huge increase on employment, unemployment, disability pensions, and inactivity rates. Our results suggest that the reform increased both employment and unemployment rates of women age 60 and over. However, we do not find evidence for active program substitution from employment into alternative social support programs. Instead employed women remained employed and unemployed women remained unemployed. The results suggest an increase in inequality within the affected cohorts.
    Keywords: J14 ; J18 ; J22 ; J26 ; ddc:330 ; retirement age ; early retirement ; regression discontinuity ; pension reform ; unemployment ; labor supply ; disability pension
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 2
    Publication Date: 2018-07-18
    Description: We evaluate the labor market and distributional effects of an increase in the early retirement age (ERA) from 60 to 63 for women. We use a regression discontinuity design which exploits the immediate increase in the ERA between women born in 1951 and 1952. The analysis is based on the German micro census which includes about 370,000 households per year. We focus on heterogeneous labor market effects on the individual and on the household level and we study the distributional implications using net household income. In this respect we extend the previous literature which mainly studied employment effects on the individual level. Our results show sizable labor market effects which strongly differ by subgroups. We document larger employment effects for women who cannot rely on other income on the household level, e.g. women with a low income partner. The distributional analysis shows on average no significant effects on female or household income. This result holds as well for heterogeneous groups: Even for the most vulnerable groups, such as single women, women without higher education, or low partner income, we do not find significant reductions in income. One reason for this result is program substitution.
    Keywords: J14 ; J18 ; J22 ; J26 ; H31 ; ddc:330 ; retirement age ; pension reform ; labor supply ; early retirement ; distributional effects ; spillover effects ; household
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 3
    Publication Date: 2018-11-27
    Description: We evaluate the labor market and distributional effects of an increase in the early retirement age (ERA) from 60 to 63 for women. We use a regression discontinuity design which exploits the immediate increase in the ERA between women born in 1951 and 1952. The analysis is based on the German micro census which includes about 370,000 households per year. We focus on heterogeneous labor market effects on the individual and on the household level and we study the distributional implications using net household income. In this respect we extend the previous literature which mainly studied employment effects on the individual level. Our results show sizable labor market effects which strongly differ by subgroups. We document larger employment effects for women who cannot rely on other income on the household level, e.g. women with a low income partner. The distributional analysis shows on average no significant effects on female or household income. This result holds as well for heterogeneous groups: Even for the most vulnerable groups, such as single women, women without higher education, or low partner income, we do not find significant reductions in income. One reason for this result is program substitution.
    Keywords: J14 ; J18 ; J22 ; J26 ; H31 ; ddc:330 ; retirement age ; pension reform ; labor supply ; early retirement ; distributional effects ; spillover effects ; household
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 4
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    Berlin: Deutsches Institut für Wirtschaftsforschung (DIW)
    Publication Date: 2016-11-16
    Description: In this paper we exploit a cohort-specific pension reform to estimate the causal labour market effects of changes in the financial incentives to retire. In particular, we analyze the effects of the introduction of cohort-specific deductions for early retirement on female retirement, employment and unemployment. For the empirical analysis we use high-quality administrative data from the German pension insurance. We present evidence for sizable labour market effects. In addition to direct effects on women older than 60 we find important anticipation effects before reaching the pension eligibility age. Overall we document that the pension reform leads to a postponement of retirement, an increase in employment and a shifting in unemployment over age rather than a substitution into unemployment.
    Keywords: J14 ; J18 ; J22 ; J26 ; H21 ; ddc:330 ; retirement age ; pension reform ; labour supply ; actuarial deductions ; cohort-specific pension reform ; labour market effects
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 5
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    Kiel und Hamburg: ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
    Publication Date: 2017-01-27
    Description: In this paper we exploit a cohort specific pension reform to estimate the causal employment effect of changes in the financial incentives to retire. In particular we analyze the effect of the introduction of pension deductions for early retirement on female employment. For the empirical analysis we use high-quality administrative data from the German Federal Pension Insurance (VSKT) and find positive and significant effects of the reform on employment.
    Keywords: J18 ; J26 ; J14 ; ddc:330
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 6
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    Berlin: Deutsches Institut für Wirtschaftsforschung (DIW)
    Publication Date: 2017-04-07
    Description: We present quasi-experimental evidence on the employment effects of an unprecedented large increase in the early retirement age (ERA). Raising the ERA has the potential to extend contribution periods and to reduce the number of pension beneficiaries at the same time, if employment exits are successfully delayed. However, workers may not be able to work longer or may choose other social support programs as exit routes from employment. We study the effects of the ERA increase on employment and potential program substitution in a regression-discontinuity framework. Germany abolished an important early retirement program for women born after 1951, effectively raising the ERA for women by three years. We analyze the effects of this huge increase on employment, unemployment, disability pensions, and inactivity rates. Our results suggest that the reform increased both employment and unemployment rates of women age 60 and over. However, we do not find evidence for active program substitution from employment into alternative social support programs. Instead employed women remained employed and unemployed women remained unemployed. The results suggest an increase in inequality within the affected cohorts.
    Keywords: J14 ; J18 ; J22 ; J26 ; ddc:330 ; retirement age ; early retirement ; regression discontinuity ; pension reform ; unemployment ; labor supply ; disability pension
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 7
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    Kiel, Hamburg: ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
    Publication Date: 2017-10-02
    Description: Unemployment benefits are one important option to bridge time between employment exit and claiming retirement benefits for older workers. We develop an option value model that explicitly accounts for the pension system and unemployment insurance in Germany. We use administrative panel data and implement the model for female birth cohorts of 1940 to 1949, exploiting exogenous variation in social security wealth by the pension reform 1992 and the reform of unemployment benefits in 2004.
    Keywords: H55 ; J14 ; J22 ; J26 ; J65 ; ddc:330
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 8
    Publication Date: 2019-04-17
    Description: Im Jahr 1999 wurde die sogenannte 'Altersrente für Frauen' für die Jahrgänge ab 1952 abgeschafft. Dadurch erhöhte sich das frühestmögliche Renteneintrittsalter für viele Frauen schlagartig von 60 auf 63 Jahre. In der vorliegenden Studie werden anhand von Daten der deutschen Rentenversicherung und des Mikrozensus die Arbeitsmarkteffekte der Reform untersucht. Die Analysen zeigen im Durchschnitt positive Beschäftigungseffekte: Die Erwerbsquote der betroffenen Frauen steigt insgesamt um rund acht Prozentpunkte. Allerdings steigen auch Arbeitslosigkeit und Nichterwerbstätigkeit im selben Ausmaß. Der Beschäftigungseffekt geht vor allem darauf zurück, dass erwerbstätige Frauen länger arbeiten. Arbeitslose oder nichterwerbstätige Frauen wechseln durch die Erhöhung des Renteneintrittsalters kaum in Beschäftigung. Die Beschäftigungseffekte fallen für Frauen ohne hohe Bildung geringer aus. Der Wiedereingliederung von Arbeitslosen und Nichterwerbstätigen muss daher bei der künftigen Ausgestaltung der Altersgrenzen eine höhere Bedeutung zukommen. In diesem Zusammenhang sollte auch verstärkt in die Weiterbildung von älteren Menschen investiert werden.
    Keywords: J14 ; J18 ; J22 ; J26 ; ddc:330 ; retirement age ; early retirement ; regression discontinuity ; pension reform ; unemployment ; labor supply ; disability pension
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: German
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  • 9
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    Bonn: Institute for the Study of Labor (IZA)
    Publication Date: 2019-03-13
    Description: We analyse the role of health in determining the difference between desired and actual hours of work in a sample of German men using the Socio-Economic Panel Data for years 1996-2007. The effects of both self-assessed health and legal disability status are examined. About 60% of employees report working more than they would wish with the mean difference of -3.9 hours/week. We estimate static and dynamic model specifications allowing for autoregressive nature of the dependent variable and testing for the role of lagged health status. Important differences are found between east and west German Länder. In the west we find statistically significant role of general health measures in determining the disequilibrium. Employees in bad health want to work on average by about 0.4 hour/week less according to the static specification, and by about 1 hour/week less if dynamics of health and of the disequilibrium are taken into account. This is respectively 10% and 25% of the mean difference. We find no effects of legal disability status on the disequilibrium which we interpret as a reflection of stronger legal position of disabled employees. In both east and west we find significant state dependence in the hours disequilibrium.
    Keywords: J21 ; J14 ; ddc:330 ; hours worked ; health ; disability ; labour market flexibility ; Arbeitszeitflexibilisierung ; Gesundheit ; Meinung ; Erwerbsunfähigkeit ; Schätzung ; Deutschland
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 10
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    München, Berlin: Ludwig-Maximilians-Universität München und Humboldt-Universität zu Berlin, Collaborative Research Center Transregio 190 - Rationality and Competition
    Publication Date: 2018-11-28
    Description: We evaluate the labor market and distributional effects of an increase in the early retirement age (ERA) from 60 to 63 for women. We use a regression discontinuity design which exploits the immediate increase in the ERA between women born in 1951 and 1952. The analysis is based on the German micro census which includes about 370,000 households per year. We focus on heterogeneous labor market effects on the individual and on the household level and we study the distributional implications using net household income. In this respect we extend the previous literature which mainly studied employment effects on the individual level. Our results show sizable labor market effects which strongly differ by subgroups. We document larger employment effects for women who cannot rely on other income on the household level, e.g. women with a low income partner. The distributional analysis shows on average no significant effects on female or household income. This result holds as well for heterogeneous groups: Even for the most vulnerable groups, such as single women, women without higher education, or low partner income, we do not find significant reductions in income. One reason for this result is program substitution.
    Keywords: J14 ; J18 ; J22 ; J26 ; H31 ; ddc:330 ; retirement age ; pension reform ; labor supply ; early retirement ; distributional effects ; spillover effects ; household
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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